GMH needs funding to stay in OZ

[dmacey]

Found this info also,

Prime Minister Julia Gillard announced the scrapping of the Green Car Innovation Fund back in January to allow the Government to contribute to rebuilding efforts due to the Queensland floods. With the scheme now revived, and with cash-strapped GM reluctant to splurge on engineering projects, Holden is no doubt glad that it has secured the funds to help engineer VF. The $39.8 million government grant announced today is in addition to the $149 million the company received to build the Cruze small car in Australia.

This was 19th May 2011,

 

[VZ Thunder SS]

The vf looked alot like the VE, Just a bit more tough looking.

 

[Reaper]

The vf looked alot like the VE, Just a bit more tough looking.

You have seen one???

Reaper

 

[greenacc]

What 's gone so wrong with the automotive industry that means all the manufacuters need handouts to stay in business ?
Sounds a bit like Armerican farmers subsidies.

 

[Reaper]

What 's gone so wrong with the automotive industry that means all the manufacuters need handouts to stay in business ?
Sounds a bit like Armerican farmers subsidies.

For Australia the high value of the $ plays a big part. Overall Auto assembly is a massive employer for wherever it sets up and thus various states/countries and even cities will essentially bid to get the plants set up there. It is not only for Automotive, most big business that employs a lot of people enjoy similar tax breaks/subsidies. This has been going on for nearly as long as there has been a car industry world wide.

Reaper

 

[c2105026]

Here is a thought; what is the difference between handouts to car companies and like those the american banks at the peak of the GFC? Do more profitable companies like BMW and Toyota get similar assistance I wonder?

 

[exec24]

The vf looked alot like the VE, Just a bit more tough looking.

from what i've been told it's the same roof and floorpan as VE, everything else is new

I've also been told holden will be axing jobs(Casual and Contract work) within the next few weeks

also Mitsubishi (at Tonsley park) got a Government handout, look where there are now....

 

[Reaper]

Here is a thought; what is the difference between handouts to car companies and like those the american banks at the peak of the GFC?

The US government took an ownership stake of the banks (and GM) during the GFC. In theory that stake could be sold into the future assuming it was worth something. The current injection of $$$ into the Australian car industry does not involve an equity stake.

Do more profitable companies like BMW and Toyota get similar assistance I wonder?

NFI about BMW but Toyota defiantly receive assistance to stay in Australia. Thailand government invested a huge amount to attract Toyota to set up there. Low wages and relatively (to Australia) lax environmental and OHS laws also helped.

from what i've been told it's the same roof and floorpan as VE, everything else is new

Most of the hard points remain. My information says think of a current Commodore with the next generation of Cruze styling. Look towards the Malibu for styling cue's too. Haven't heard but I'd be a amazed if the dash/centre console didn't get a substantial makeover too.

also Mitsubishi (at Tonsley park) got a Government handout, look where there are now....

Mitsubishi situation was worlds different to Holden.

Reaper

 

[Immortality]

I haven't read the entire thread but can anybody confirm the future of the long wheel base models being built in Aussie?

My Neighbour works for a taxi company who almost exclusively use the Caprice model and the have been told that it's very likely that they won't be able to get any more in the future.

 

[Reaper]

I haven't read the entire thread but can anybody confirm the future of the long wheel base models being built in Aussie?

My Neighbour works for a taxi company who almost exclusively use the Caprice model and the have been told that it's very likely that they won't be able to get any more in the future.

Will be safe whilst they are still building Commodores here and still run the current platform.

Reaper