Automotive Industry in Australia
Based on IBISWorld data, the Australian automotive industry is comprised of the following industry components:
The Australian automotive industry is going through a period of unprecedented change culminating in the closure of car manufacturers Toyota, Holden and Ford, in Australia in 2017. The impact of these closures will mean an abrupt decline in the forecast of employment and revenue growth between 2016 and 2018. These closures will have the biggest impact on businesses involved in manufacturing, whether it be the vehicles themselves, or parts for vehicles. However, the industry will continue to adapt and evolve. Businesses involved in wholesale and retail will benefit from greater access to imported vehicles and parts. There is already evidence that new car sales are on the rise driven by a combination of low interest rates and Government incentives. And as long as there are more vehicles on the road there will be a need for servicing and repair. So it is forecast that the Australian automotive industry as a whole will return to a period of positive growth sometime after 2018.
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