The main reason Holden and Toyota are closing up shop is because we pay our the workers at these factories too much. It increases the price of the cars they make and make them uncompetitive. Especially so here when the government decided to lower tariffs on imported cars. Why buy Australian when a European import is cheaper and does the job just as well?
Really both sides of government should have seen this coming, and prepared for it. 20 years ago they should have done something about the high wages of auto manufacturing workers to keep us competitive on a domestic and international scale...or 5 years ago they should have implemented a transition plan for automotive industry employees.
BMW, Audi, Mercedes etc underpay their workers?