Car production takes a dive

Bowan Spanbroek | 11/01/2010 4:04:05 PM

Australian car production has slumped to a low of 225,713 vehicles produced in 2009, a staggering 100,000 fewer cars than 2008. The high Australian dollar has hindered the already diminished demand from foreign importers in the US and Middle East. On top of this local producers are hurting from the recent tariff cut that has lowered foreign importers costs considerably. These combined factors mean local producers will be relying heavily on tax-payer funded assistance in the coming year, w...

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