General Motors Co.'s subsidary Holden, is all set to withdraw as a cars manufacturer from Autralia by the end of the year 2017. They released the statement after Ford said they'll stop making cars in the country in the year 2016.
This has rattled the automotive industry in Australia. This move woud have a disastrous impact on 3000 jobs in Victoria and South Australia, and the government is scramming to try and help the people losing thier jobs after the exit of the two companies.
"We will make an announcement early next week that I think will help to restore confidence in the areas most impacted by the impending departure of Ford and Holden, because I don't believe for a second that these are areas without fundamental economic strengths," Mr Abbott, the Prime Minister of Australia said after discussing the scope of the package with Victorian Premier Denis Napthine and South Australian Premier Jay Weatherill at the Council of Australian Governments meeting in Canberra.
Toyota, the Japanese automotive giant is also not unaffected by the turmoil this industry in Australia is in. Dr Napthine said that they are willing to provide Toyata with support to help them make use of all the opportunities available.
Federal Employment Minister Eric Abetz said, "The Coalition Government wants the Australian automotive industry to survive and flourish.
"Toyota is seeking variations to its agreement that would unlock its ability to improve competitiveness and secure future work in Australia.
"Becoming more productive is clearly beneficial for employees not only of Toyota but of the many companies that supply Toyota."