Nandagopal J. Nair writes:
The biggest drag is is a strong Australian dollar, which is making local manufacturing uncompetitive compared to imports. Over the past 12 months the currency has traded about 30% above its three-decade average. Its strength has pushed up manufacturing costs, making Australia the third most expensive country to do business in, according to the IMF.
Read more at GM and Toyota may follow Ford’s lead and shut plants in Australia – Quartz.