Ford to Close Australian Car Plants in 2016 on High Costs
A view across an empty car park outside the
Ford Broadmeadows Assembly Plant
is seen in Melbourne.
*Photographer: Hamish Blair/Getty Images
Ford Motor Co. (F) will stop making cars in Australia, nine decades after founder Henry Ford first began building Model Ts in the country, after a surge in the currency destroyed the local industry’s ability to compete with imports.
The logo of Ford Motor Co. is displayed outside
the company's Geelong Casting Plant in Geelong,
Australia.
*Photographer: Carla Gottgens/Bloomberg
Ford Broadmeadows Assembly Plant
is seen in Melbourne.
*Photographer: Hamish Blair/Getty Images
Ford Motor Co. (F) will stop making cars in Australia, nine decades after founder Henry Ford first began building Model Ts in the country, after a surge in the currency destroyed the local industry’s ability to compete with imports.
The logo of Ford Motor Co. is displayed outside
the company's Geelong Casting Plant in Geelong,
Australia.
*Photographer: Carla Gottgens/Bloomberg
Ford Australia faces costs double those in Europe and four times those of its Asian divisions, its local president Bob Graziano told reporters today as he announced the loss of 1,200 jobs from October 2016 at two plants in Melbou and Geelong. “Australian manufacturing can’t keep its head above water,” said Katrina Ell, an economist at Moody’s Analytics in Sydney. “High labour costs mean we can’t compete long-term against lower cost countries, especially in Asia. The strong exchange rate is exacerbating Australia’s lack of competitiveness.”....[...]
*ΕΔΩ: http://www.bloomberg.com/
*ΕΔΩ: http://www.bloomberg.com/
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