AUSTRALIA’s car industry is said to receive a boost after General Motors Holden announced on Friday that it will build and export luxury cars to South Korea.
The six cylinder Veritas, a luxury sedan based on the Holden Statesman, are targeted at the limited elite market, such as government and embassy officials, with 300 already sent to Korea.
The Daewoo Veritas V6 engine is being built at Holden’s plant in Port Melbourne and the vehicle will be assembled in Elizabeth, South Australia.
Representatives from Holden along with Victorian and federal government ministers attended the official launch held in Melbourne on Friday and used it as an opportunity to talk up the future of Australia’s car exporting industry.
Holden chairman and managing director Mark Reuss said programs like these highlight just how important the automotive industry is to Australia, but was unable to say whether the Veritas would create jobs, or give details on such things as sales figures.
Victorian Industries Minister Theo Theophanous also had no figures on jobs involved but said the move was “the start of something significant” adding that all car makers would have to start boosting export targets.
Federal Trade Minister Simon Crean said the government was working to reduce overseas tariffs to boost car exports.
He said this was where manufacturers should be looking “because that’s where our future lies”.
“I think if we can get a solid basis on which the industry can invest securely and confidently for the future, we will not only see the security of jobs in this sector, we can even look to growth in the sector,” Crean said.
Preceding Holden’s announcement, more than 3,000 car industry jobs have been cut across Victoria and South Australia in just over a year.
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