General Motors has recently issued a press release in which they have stated that Holden will stop local production by the end of the year 2017.
In May we had heard from Holden’s chairman Mike Devereux that production in Australia will be continued beyond the year 2016 when Ford will stop making cars. But now after this recent press release, it seems that they have changed their minds as Holden will put an end to local production by late 2017. As a consequence of this decision, a significant number of 1,600 jobs will be terminated at the Elizabeth vehicle manufacturing plant and another 1,300 jobs will be axed from the firm’s Victorian factory.
After Ford and Holden will stop Australian production, Toyota could also go down the same route and may decide to stop production as well on account of the uncertainty of the local automotive parts supply chain. The decision will be taken somewhere next year when we will also come to know if Toyota will get the rights to build the next-gen Camry after 2017.
Well it is not a good news for the Australian auto industry as two major car makers have already announced their plans to leave the country and it could very soon become three!
