Auto industry died because 1) other countries subsidize theirs, we canned it 2) SE Asia tooled up for mass manufacture to a broader market 3) Australians have a persistent cultural cringe about Oz made 4) hangover legacy from GFC.
Yes it was little to do with labour costs and both majors acknowledged that and was borne out when the financials were released.
Constant bogey of class bigotry never relents from the inculcated too lazy to objectively analyse for themselves. If that translates in share purchases:- emotion costs opportunity..
