Politicians are scrounging for reasons to blame or deny the imminent demise of Australia’s automotive manufacturing industry. Automotive’s future script has been clear for over two decades since Dr John Hewson announced a zero tariff regime for automotive products in 1992.
Indeed, the writing has been on the wall for the majority of Australia’s manufacturing industries for sometime, yet one industry is a clear performer. Australia’s $4 billion aerospace manufacturing industry is a minnow when compared to the automotive industry, but it still employs more than 14,000 people. Subject to aviation’s global fiscal uncertainty, it still continues to grow delivering consistent profit and growth as other industries shrink.