General Motors abruptly announced it now plans to stop building and engineering cars in Australia by the end of 2017. The decision will end almost 90 years of car making in Australia by GM’s Australian subsidiary, Holden.
The announcement follows testimony before a parliamentary commission by GM’s ranking executive in Australia that GM could no longer sustain its manufacturing operations “Down Under” without help from substantial subsidies from the Australian government.
Currently only GM’s Holden, Ford and Toyota currently manufacture vehicles there. Ford already announced it planned to close its Australia car factories by the end of 2016 and Toyota is expected to follow suit shortly. (more…)