Australian car manufacturing is speeding ahead and the quick sand of its industry cannot deter its onward progress. Three car manufacturing giants, Ford, Holden and Toyota left the country placing a big dent in the economy. This, however has not dissuaded Australia. Car manufacturing led by innovation within the country is the way forward according to a research.
Research commissioned by the Australian Automotive Aftermarket Association (AAAA) with ACA Research to assess current market conditions, has revealed a total of 300 automotive manufacturing companies currently operating in Australia, up from 260 in 2015. This revelation and others in the report acted as the impetus to encourage further redirection in the automotive manufacturing industry.
They had to quickly makeup for the void left, which also left behind some excess. OEM parts suppliers diversified into other markets with new products and skilled workers created niche markets, honing their enterprising capabilities. Reinvention and innovation have been impetus in setting up new manufacturing units and business in the country.
Businesses are focusing on the production of parts for 4WDs, passenger vehicles, light commercial and performance vehicles. There is a never-ending demand for this in the international market, and the countering in catering to demand within and overseas. The collective revenue achieved from exports is $640 million. Research by AAAA prove that the Australian car manufacturing industry can take off in spite of the recent setback.
ACA Research Director, Steve Nuttall reinforced this positive business sentiment that is prevalent in the industry. “The highlight of this research for us is the positive outlook for the future of the Australian automotive manufacturing sector, despite an uncertain economic environment,” he said.