GM Holden to cease manufacturing operations in Australia by 2017
GM Holden has decided to shut down its manufacturing operations in Australia in 2017, citing unsustainable manufacturing costs, a strong local currency, and a highly fragmented domestic market.
GM Holden has announced in a company press release that it is to cease manufacturing operations in Australia by the end of 2017. In the press release, outgoing General Motors (GM) CEO Dan Akerson states, "We are completely dedicated to strengthening our global operations while meeting the needs of our customers. The decision to end manufacturing in Australia reflects the perfect storm of negative influences the automotive industry faces in the country, including the sustained strength of the Australian dollar, high cost of production, small domestic market and arguably the most competitive and fragmented auto market in the world."
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