Car dealers operate on 2.6 percent profit margins, automotive employs 379,365 people, and electric vehicles make up 0.01 percent of the nation’s fleet, a new report into Australia’s automotive industry reveals.
The first comprehensive analysis of the nation’s automotive industry in three years, launched today by Senator Nick Xenophon at Parliament House, Canberra, explores the full scope of the industry.
At a time of unprecedented change, the report uncovers the automotive industry’s economic contribution to the nation, business operating conditions, and detailed analysis of skills shortages and training requirements, along with insights into the direction automotive is headed.
“A key finding in the report is that Australia’s automotive industry is here to stay. Passenger vehicle manufacturing will cease in October this year, but that is, and always has been, a small component of the entire automotive industry, which is still very robust with 69,365 businesses operating across the country,” said VACC Executive Director, Geoff Gwilym.