Ford Australia is planning to end car production in Australia. It is expected that the company will announce the closure of its Broadmeadows car factory and its Geelong engine plant.
According to reports by News.com.au, the automotive manufacturer will make the announcement at 10.45am this morning.
The company was expected to announce its financial results today but News Ltd claims the closures will be also announced.
According to confidential sources, Ford Australia will become an import-only brand. There was no information received regarding the date of the factory closures.
There has been much debate of late regarding the viability of automotive manufacturing in Australia and doubts about how the heavily subsidised sector can survive. Such a closure was always on the cards.
The big three car companies employ 17,000 people directly in Australia. When suppliers are added, this figure rises to 55,000.
In Victoria alone, 25,000 people work in the industry.