CANBERRA – Australian auto makers are forecasting a 50% increase in annual production to 500,000 vehicles by 2010. The prediction follows the federal government’s recent announcement of an auto industry aid program worth A$4.2 billion ($2.4 billion) that will run from 2006-2015. (see related story: Aussie Government Extends Auto Industry Subsidies) In return, the auto makers agree to import tariffs being cut to 10% in 2006 and 5% in 2010. The Productivity Commission will review the ...
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