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5 Pages • Essays / Projects • Year: Pre-2019
The Prime Minister, Tony Abbott, has declared he was powerless to prevent Toyota from ceasing its Australian car manufacturing operations by the end of 2017. This is Australia’s last remaining carmaker after the announcements that Ford will cease production by 2016 and Holden by 2017. The closure not only means the shutdown of a few corporations, but also implies the demise of a car component industry that may lead to a significant number of job losses. There are three main reasons behind the issue, including the increasing cost of production, shrinking market and planned cut of government assistance.
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