Car profits driven overseas 

Car profits driven overseas

Oct 07, 2012 (Menafn - The Sydney Morning Herald - ABIX via COMTEX) --The GM Holden and Toyota automobile makers in Australia in 2011-12 gained a combined A222m in subsidies from the Federal Government. At the same time, their accounts show that A221.4m of their earnings were paid as royalties to their respective overseas parents, General Motors in the US and Toyota in Japan. The third domestic manufacturer, Ford, has not released the statistics for its local operations. The groups had costs of A13.15bn per annum, with gross margins as low as 10% compared to 50% in other sectors. During 2011-12 Toyota Australia posted a loss of A33m and GM Holden a profit decline of A23m to A89m.

Publication Date: 8 October 2012

GM HOLDEN LIMITED
GENERAL MOTORS CORPORATION
TOYOTA MOTOR CORPORATION
TOYOTA MOTOR CORPORATION AUSTRALIA LIMITED
FORD MOTOR COMPANY
FORD MOTOR COMPANY AUSTRALIA LIMITED

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