Firms face big losses as Asian cuts bite
Article Abstract:
The Asian economic crisis has affected automobile industry firms in Australia. Millard Design Group, based in Melbourne, lost about $15 million when the Indonesia Maleo small car project died. Indonesia had planned on making the Maleo the country's second indigenous car. Orbital Engine Company lost about $5 million in the deal. In addition, Holden's production fell off 50% when Daewoo, in Korea, was financially affected by the crisis.
Publication Name: Business Review Weekly
Subject: Business, general
ISSN: 0727-758X
Year: 1998
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Hybrid cars get ready for the green scene
Article Abstract:
Automobile manufacturers Toyota and Honda have developed earth-friendly cars that exceed world emission standards. Huge research and development outlays have kept the costs of these vehicles high. Consumers in countries with lower gas prices are unwilling to pay $55,000 for cars like the Saturn EV-1 electric vehicle. Mass production is not feasible mainly due to the lack of an inexpensive yet efficient storage battery.
Publication Name: Business Review Weekly
Subject: Business, general
ISSN: 0727-758X
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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