The news have confirmed that in Australia Ford car manufacturing plants will be closed by Oct 2016 as the Australian government is seeking out bail with the influx of other sectors that may substitute decline of the mining boom.
The increasing cost of manufacturing process is posing detrimental to the growth of FORD cars resulting in the job loss of about 1200 laborers. Ford, one of the oldest manufacturing plants in Broadmeadows of Victoria state built almost 37,000 vehicles has been in the country since 1925 with about 3000 people. However the escalating cost of manufacturing and the rising labor cost eventually have declined the production and sale of the car. It has simultaneously affected the business potentiality in the European market since Australian dollar traded above the US currency in the money market globally.
Ford therefore decided to close the production locally and bring in the detailed introspection of the challenges that the country faced economically and socially after the decline of the mining heritage. The government hopes that manufacturing; construction and retail sectors will give a thrust on the sliding market and will gradually boost the ongoing indiscipline and the mismanagement of the country.