The ignorance that pervades early posts in this thread, regarding the reintroduction of tariffs and high levels of protection for our local industry, completely ignores the historical facts and the reasons why we don't have them today.
We had very high tariff levels until the mid 1980's. Those high barriers, and a restriction on the numbers of cars that could be imported, gave our industry far too much protection, and as a consequence, the quality of the local car production was absolute rubbish by the international standards that existed at the time. Holden was building the VK, Ford the XE and Chrysler had given up on the Valiant and was focussed on Mitsubishi products. With the exception of some of the Mitsu's, they were all absolute rubbish. Large, inefficient carburettor six cylinder engines that were bloody thirsty and ran on leaded petrol. Drum brakes on the rear of all of them - disc front brakes had only been made standard within the previous few years, leaf rear springs, live rear axles (on the Falcon), column shift 3 speed manuals on the Fords, 4 speed manuals on the others, virtually no luxury equipment as standard. The quality of assembly depended on how far back from the production line the assemblers stood when they threw the parts at the car as it passed. I owned a few local cars from that era and I loved nearly all of them (except the Valiant), despite all their faults, but that was because I had never experienced anything else from overseas.
The Hawke government, with the Button Plan, kicked the locals into the next decade and made them wake up to the advances they had to make for our car industry to compete. Tariffs were to be gradually reduced and of course, all the local manufacturers bitched like crazy, saying it was the end of local production. Well, it's taken thirty years for their messages to become reality, and the local cars have improved out of sight in that time, but some things can't be overcome. The high cost of production, the legal requirements car manufacturers have to comply with here, (workplace safety, compulsory superannuation, leave loading, intrusive unionism) and the wrong car mix have put paid to locally designed and built cars.
Holden has tried all the tricks in the book to remain here but so long as they sell less and less local models, and have to rely on the imports to remain viable, then local production is doomed. I really hate the thought that everything with a Holden badge will probably eventually originate from Daewoo (hell, I drive one now and it's insomnia on wheels) because I have yet to see a single Daewoo model that wasn't abso-bloody-lutely dull and ordinary.