Holden Cuts Production to Half – Good News?
According to PM Kevin Rudd, Holden is the bright star in the GM firmament, the only good GM news anywhere in the world. This because a new four cylinder car is due to come into production in 2010.
But Holden’s Australian sales fell by 20% in the first quarter of this year, with sales to some export markets falling by 80%. An entire shift at the Adelaide factory is being cancelled. Staff have the option of losing their jobs or working one week on, one week off, at reduced pay. Production is forecast to be about 310 vehicles per day, down from a peak of about 600.
This is good news?