Economics
Australia Marks the Death of Its Auto Industry
- Holden closure marks end of Aussie car manufacturing industry
- Victoria better placed to absorb shocks than South Australia
Death of Australia Car-Making
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As thousands of people attended an automobile rally in Australia’s blue-collar heartland on Sunday, many knew it was also a funeral procession for the nation’s car industry.
General Motors Co. will close its Holden factory in the South Australian suburb of Elizabeth on Friday, ending more than a century of car manufacturing in the country. Hundreds of workers will be left jobless, just weeks after Toyota Motor Corp. shut its plant in neighboring Victoria state, where Ford Motor Co. closed two sites last year.