Ford to End an Operation Running Since 1925

High costs prompt it to leave Australia
By Matt Cantor,  Newser User
Posted May 23, 2013 3:29 AM CDT
In this July 24, 2011 file photo, the Ford logo is displayed at an auto dealership.   (AP Photo/Seth Perlman, File)

(Newser) – Starting in October 2016, Ford will no longer produce vehicles in Australia, the company says. "Our costs are double that of Europe and nearly four times Ford in Asia," says Ford Australia CEO Bob Graziano. Facing struggling sales and citing high wages, the firm will close its two plants in Victoria state, Reuters reports. The move will cut 1,200 jobs, the Wall Street Journal adds, noting that the company has made cars in the country since 1925. Last month, a strong Australian dollar pushed General Motors' Aussie operation to announce it would slash 500 jobs. (Read more Ford stories.)

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