Archive for January, 2010

Carr upbeat on local car industry

Industry minister, Senator Kim Carr, says the transformation the Australian automotive sector is undergoing gives him cause for great optimism about future economic growth and environmental sustainability in the industry.

“Australian vehicle production volumes for 2009 have fallen to the lowest level since 1957, yet car manufacturers in Australia have emerged as survivors from the global recession.

“This is a testament to both the sacrifices made within the industry, and to the effectiveness of the support it has received from the Rudd Labor Government.

“The strength of the partnerships developed by the Government with companies and unions has allowed the Australian automotive industry to pull through the crisis with productive capacity in place and workforce substantially intact – and this is a cause for celebration.

“Australia’s automotive industry has shown a resilience that has gone unmatched by the majority of its global counterparts.

“Annual vehicle sales in the United States and Japan were down 21.2 per cent and 9.3 per cent respectively on the previous year, compared to only a 7.4 per cent drop in Australia over the same period.

“Encouragingly, automotive markets locally and overseas are showing signs of rejuvenating with end of year increases in sales, including record-highs for Australian vehicle sales in December.

“Automotive manufacturing in Australia is poised to take advantage of this upward trend with the industry already moving forward in the production of greener, more fuel-efficient vehicles.

“The Rudd Government’s $6.2 billion A New Car Plan for a Greener Future is driving this transformation and moving the industry steadily towards a stronger footing.

“The sector is a strategically important part of Australia’s economy and provides employment to 51,700 Australians directly and another 100,000 in dependent industries.

“Investment in research and development in the automotive industry accounts for 18.5 per cent of total manufacturing R&D expenditure.

“This level of commitment to innovation bodes well for the future of this important industry.

“I look forward to seeing the benefits of this investment emerge with the introduction of the Toyota Hybrid Camry, Ford’s new eco-boost technology and Holden’s new locally manufactured small car, to name but a few exciting developments in store for the sector,” Carr said.

Sourced via manmonthly.com.a

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10,000 car jobs lost and sales fall as industry stalls

The number of motor industry companies in the UK going bust is accelerating, according to global information services company Experian.

In November, 50 automotive businesses went under, a 13.3 per cent rise on November 2008. The insolvency rate in the industry is now at its highest since December 2008.

Last year more than 10,000 workers lost their jobs in the car industry as demand slumped by ten per cent.

he Society of Motor Manufacturers and Traders said new car sales in 2009 were expected to be down by about 100,000 to 2.13 million.

Only the introduction of the scrappage scheme, where Government and industry combined to knock £2,000 off the price of a car, saved the industry from further damage.

But there is only £100 million left in the scheme, which is expected to run out by the end of next month. As a result, sales figures could plunge in the spring.

Further damage to the industry is expected to be caused by the return of VAT to 17.5 per cent from 15 per cent, which is likely to add £500 to the average price of a car.

Car sales in 2010 are expected to slump to 1.77 million in what the industry believes will be a ‘very tough year’. But there is some good news for the remainder of the automotive industry. Experian said that car businesses paid their bills quicker than at any time since June 2006.

On average, car businesses paid 15 days beyond agreed terms in November, down from 16.96 days in November, 2008.

Mark Nuttall, general manager of Experian’s automobile business, said: ‘The automotive insolvency rate has further emphasised what a volatile market dealers are having to do business in. However, although insolvencies are up in the car industry, the outlook for the car companies that have survived is more encouraging.

The improvement in payment performance has had a really positive effect on the industry’s strength.’

Crunch time for Saab bid

The General Motors board will meet in Detroit this week to continue to consider a new offer for the Swedish car maker Saab from Spyker, the Dutch sports car firm. The December 31 deadline has been extended by GM. Hundreds of UK jobs are at risk if Saab goes bust.

Sourced viadailymail.co.uk