Holden receives twice as much Govt funding as Ford or Toyota

[Pepscobra]

http://www.news.com.au/national-news...-1226610949671

HOLDEN gets twice as much government funding as Australia's two other car manufacturers - even though it does not build as many cars as market leader Toyota.
Figures released by Holden show it received $2.17 billion in state and federal government assistance over the past 12 years, compared to $1.1 billion for Ford and $1.2 billion for Toyota, News Limited can reveal.

This equates to Holden receiving an average of $180 million a year compared to Toyota taking $95.8 million a year and Ford getting $87.8 million a year.

Holden’s taxpayer support is comparatively high given Toyota has been the biggest producer and exporter of vehicles over the past decade - and Holden last year posted its lowest sales in 19 years.

But Ford’s government funding is also disproportionately high given that it has hit record low production levels in the past three years.

Using the funding average and last year’s production numbers as a guide, Holden received $2117 per car built in 2012 compared to $944 for every locally made Toyota and $2372 per locally-made Ford.

Defending the government generosity, Holden says it invested $32.7 billion and paid $1.4 billion in income tax for its workforce over the same 12-year period it received $2.17 billion in taxpayer assistance.

Holden boss Mike Devereux says without this level of government support "it is absolutely impossible to make cars in this country" and the subsidies were "in line with or lower than" those in other countries.

The comparative figures among Australia’s three car manufacturers have emerged as senior Ford executives in North America last week again refused to commit to producing cars locally beyond 2016.

Ford Australia is yet to apply for government funding beyond its current 2016 deadline, while Holden has signed on until 2022 and Toyota Australia is negotiating on the next generation Camry that will run to 2024.

The cost-per-locally-made-car data comes as confidential industry figures show Holden was bumped outside the top-three sellers for the second month in a row in March.

For the first time ever, Korean car maker Hyundai ranked third in the new-car sales race - behind Toyota and Mazda and ahead of Nissan, which outsold Holden for the second month in a row.

"The strength of the Australian dollar has had a huge impact on the market for new cars," Holden spokesman Matt Hobbs told News Limited.

"We are at near record levels with all major currencies and the quick depreciation of the Yen to the Aussie dollar since October has just increased the pressure (on the local market)."

"This intervention by the Bank of Japan is the equivalent of Australian Government devaluing the AUD from parity with USD to $0.75 to support its manufacturing industry."

Government funding over the past 12 years (2001 to 2012):
Holden: $2.17 billion
Toyota: $1.2 billion
Ford: $1.1 billion

Annual average over the past 12 years (2001 to 2012):
Holden: $180 million
Toyota: $95.8 million
Ford: $87.8 million

Cars made locally in 2012:
Holden: 85,000
Toyota: 101,500
Ford: 37,000

Average taxpayer dollars per car built in 2012:
Holden: $2117
Toyota: $944
Ford: $2372

[Jason[98.EL]]

being discussed here

http://fordforums.com.au/showthread.php?t=11392644

[blackf6]

Meat pies, football, kangaroo's and Holden cars. Haven't you been brainwashed also?

[aussie muscle]

That meat pies jingle is based on a american advert (hot dogs, baseball, etc).

"Holden says it invested $32.7 billion and paid $1.4 billion in income tax for its workforce over the same 12-year period it received $2.17 billion in taxpayer assistance."
plus add to that how much tax each individual worker paid in tax and GST, it all adds up.

[xxx000]

just like the bogan chant 'aussie, aussie, aussie, oi, oi, oi,' that's become fashionable originated in Scotland or nearby.