Monday, October 16, 2006

Bad year for Ford or automotive in Australia?

Ford AustraliaThe Australian is reporting on new job losses across Australias besieged automotive parts industry this week, after Ford Australia unveiled plans to cut new car production by 20%.

The news come following previously reported new car sales figures drop for Holden and Toyota, in September last year.

Ford also warned of job losses from its 5000-strong workforce after blaming declining sales for the decision to cuts its daily new car production from 450 to 360 from November 20.

Industry analysts warned that Ford's decision would put significant pressure on cash-strapped car part makers.

Ford sales have been hit by rising petrol prices and declining sales on the the back of strong competition from rivals marketing newer products.

Industry insiders confirmed that the car industry is facing a difficult period.


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