The peak body representing the Australian automotive industry, the Federal Chamber of Automotive Industries (FCAI) has welcomed new investment announcements by local car makers that provide encouraging signs for vehicle production and exports.
Toyota Australia has announced it will invest around $300 million to manufacture the next generation engine for its locally produced Camry and Hybrid Camry sedans.
“This is a great boost for local manufacturing and demonstrates car makers are committed to the long term viability of the industry and will continue to deliver significant benefits to the Australian economy,” FCAI Chief Executive Andrew McKellar said.
This follows other recent announcements by local car makers:
GM Holden has secured an export program to Brazil and has begun the recruitment of additional staff for the re-introduction of a second shift at its manufacturing plant in South Australia.
Ford has invested $20 million on an environmental and technical upgrade of its Geelong Casting Plant, securing the jobs of 100 people and creating 50 new positions.
“This adds to evidence that local vehicle manufacturing has reached a positive turning point and is now exhibiting signs of renewed growth,” Mr McKellar said.
In the eight months to August, a total of 166,109 vehicles have been manufactured in Australia – up 21.4 per cent on the same period last year.
Exports of Australian made vehicles are also up, by around 55 per cent, with more than 62,000 vehicles being exported so far this year.
“Local vehicle manufacturing makes a significant contribution to the Australian economy, directly employing about 60,000 people and generates around $5 billion in export sales each year,” he said.
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