The Federal Chamber of Automotive Industries (FCAI) has welcomed a major review of Australia's automotive manufacturing industry by the Federal Government, calling for a renewed policy framework to ensure future local model development. Pictured is FCAI chief executive Andrew McKellar.
The Federal Chamber of Automotive Industries (FCAI) today welcomed the announcement of a major review of Australia's automotive manufacturing industry by the Federal Government.
"It is essential this review leads to a renewed policy framework, capable of underpinning the future investment required for on-going model development in Australia," FCAI Chief Executive Andrew McKellar said.
"The automotive industry makes a very significant contribution to the national economy. It is the core of Australia's manufacturing industry and an essential source of industrial innovation.
"The industry accounts for more than $700 million in R&D spending each year.
"Over the past five years, Australian car makers have invested in excess of $4.5 billion to develop and build new models in Australia
"Last year, the Australian industry produced around 330,000 cars and, of these, more than 140,000 were exported to the world.
"There has been a significant change in the competitive environment faced by the local manufacturing industry since the last major review of policy arrangements in 2002.
"It is timely for the Australian Government to undertake this review.
"It is essential that we keep pace with the rapid change affecting the manufacturing sector."
Mr McKellar said he expected the review to be broad-ranging, addressing all competitive challenges facing automotive manufacturing in Australia.
"We are confident the process outlined for the review will be rigorous," he said.
"It will provide an opportunity for the industry to clearly put forward its vision for the future."
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