Jump to content
Create New...
  • William Maley
    William Maley

    Holden Cuts 500 Jobs Due To Strong Australian Dollar

    By William Maley

    Staff Writer - CheersandGears.com

    April 9, 2013

    Holden is cutting 500 jobs due to the strengthening Australian dollar, which has caused country's labor rates to be one of the highest in the world.

    “I can’t control what central banks do. The value of the Australian dollar, and importantly the currency plays being made by other countries, mean that we are not competing on a level playing field,” said Holden managing director, Mike Devereux yesterday.

    The Australian dollar has surged 83% when compared to the Japenese Yen since 2008. This has prompted an increase in Japenese imports into Australia. This is further compounded by the rise in costs of plants in Australia. Devereux said this makes the operation “one of the most expensive, if not the most expensive” in GM.

    The job cuts will take place in two facilities: Holden's Elizabeth plant, where the Commodore and Cruze are built, and Holden's Victorian product development facility.

    These new cuts come five months after Holden announced 170 jobs would be cut for similar reasons.

    Source: Bloomberg, Drive.com.au

    William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster.

    User Feedback

    Recommended Comments

    There was a mis-configuration with the Holden forum where news articles from the front page weren't getting posted. I fixed it the other day, so now all the old articles got dumped into the Holden forum all at once. This was from April 9th

    Link to comment
    Share on other sites



    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.


  • google-news-icon.png



  • google-news-icon.png

  • Subscribe to Cheers & Gears

    Cheers and Gears Logo

    Since 2001 we've brought you real content and honest opinions, not AI-generated stuff with no feeling or opinions influenced by the manufacturers.

    Please consider subscribing. Subscriptions can be as little as $1.75 a month, and a paid subscription drops most ads.*
     

    You can view subscription options here.

    *a very limited number of ads contain special coupon deals for our members and will show

  • Similar Content

  • Posts

    • Yep, BYD (and other Chinese brands) will take over Asia, Mexico, South America, etc were they need lower priced cars and they are making some inroads to Europe also.  And at the improvement rate of Chinese cars with all these 1,000+ hp, 400 mile range, charge in 5 minutes they will move into luxury and performance segments.  Which forces legacy auto into the middle and upper market in the US and Europe and I don't know if that is enough volume for them to survive, probably half will die after getting beat up by tariffs when BYD swoops in to pick up the pieces.
    • Yup. If BYD's battery system tech is true with 100% charging in 5 minutes.   Pretty much everybody is toast. And it does not matter if the US and Canada tariff the crap out of BYD and Chinese EVs from their respective markets.  BYD is already in the process of flooding their EVs all OVER the planet.  Including Mexico.   And if Trump pisses off Canada even more with tariffs, forget about Canada banning Tesla from the Canadian market in retaliation, Canada might just  erase the 100% tariffs on Chinese EVs and will let   BYD flood our market too.   If GM  and FoMoCo Ontario plants close, BYD might be welcomed to use them.  China last week or two punished us with 100% tariffs on our porc and other food products that we sell to them.  Retaliatory. (where have  I heard that word before?)  Chinese importers will simply buy porc from other countries hurting our industry... If American tariffs on GM of Canada vehicles and FoMoCo Canada vehicles is still a go, our factories might close, but maybe if we let BYD flood our market, it will hurt GM and FoMoCo THAT much more.  And it doesnt matter actually, Trump's economic war with ALL of its allies will doom GM and FoMoCo anyway.  
    • Ive thought about it.  And there are literally no luxury sedans (the big ones) in this modern era of the 2020s (and to be more precise to use 2025) that I currently lust for.   Nothing from Bentley or Rolls Royce.  Nothing from Mercedes or BMW.  The Audi A8?  I dont like it.  I like the medium version of the A8. The A6.  Precisely, the RS6 Avant.   This.     Americans dont do sedans anymore.  OK...Cadillac has got the CT5.  But it aint a big cruiser sedan.  I do like the Black Wing V Series.   I dont lust after it anymore.  I got over it.
    • Cadillac's EV's seem to be selling though and Genesis's are not.  The Lyriq is more GV80 sized the Optic is GV70 size.  I think Cadillac could still step up the interiors a bit and the Ultium platform cars are still a bit heavy compared to other EVs, but I think they have a better line up than Genesis.  And Cadillac will have an EV sedan or 2 to replace the CT4/CT5, although rumor is one is mid-size and the other full size. Either way, I was just reading about the BYD Yangwang U7, which is a full size sedan, interior looks on par to a Genesis G90 but it has 1,287 hp and costs $86,000.  And it charges at 500 kw, and BYD has 1,000 kw charging cars going on sale this year.  And the Yangwang U8 SUV also is a boat, which the Escalade IQ cannot drive across rivers.  All these guys are toast anyway.
  • Who's Online (See full list)

  • My Clubs

×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

Write what you are looking for and press enter or click the search icon to begin your search