Future Car Fund - Holden - Aussie Stock Forums

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  1. #1

    Default Future Car Fund - Holden

    News story today about Holden developing a new model Cruze, using about 39 million in funding from the now obsolete future car fund...

    Is this a car with a new type of fuel system? Environmentally more sound? Is there a huge future benefit? Are they using new components and newly developed materials? Not really... they're going to replace some of the steel parts with aluminium.

    This will make the car a whole 7% more fuel efficient.

    I don't really care about corporate welfare or what govt's throw money at... but this one just seems a bit silly... I think what annoys me more is the ooh ahh factor that the news trumpet the story with, I can't see that its revolutionary.

    As a side note, smelting aluminium requires huge amounts of water and electricity.

  2. #2
    Money can't buy Poverty Glen48's Avatar
    Join Date
    Sep 2008

    Default Re: Future Car Fund - Holden

    Sounds like Government Motors USA they spent some thing like 96M to save a few jobs the saving jobs part got the mention not the Taxpayers funds supporting them..
    I can see Oz doing the same thing wasting money for the next lot of taxpayers victim's to foot the bill and now the banks are getting a down grade the rot is setting in so watch what USA does and you can tell the future for OZ.

  3. #3
    Mod: Call me Dendrobranchiata prawn_86's Avatar
    Join Date
    May 2007
    Los Angeles
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    Default Re: Future Car Fund - Holden

    Yet another waste of taxpayer funds propping up a failing industry who have extremely powerful (and successful) lobbyists

  4. #4
    Calliope's Avatar
    Join Date
    Jul 2008
    Sunshine Coast

    Default Re: Future Car Fund - Holden

    General Motors Holden Football, Meat Pies, Kangaroos and Holden Cars. Football and kangaroos are going OK. I guess we will have to prop up the meat pie industry next.

    CAR giant Holden says it won't be able to do business in Australia unless governments come to its financial aid.

    Holden boss Mike Devereux today said the loss of 100 casual and temporary job losses at the car maker's Elizabeth site, north of Adelaide, were unavoidable.

    As Industry Minister Greg Combet rejected Toyota claims that the nation had a poor workplace culture, Mr Devereux said Holden's local operations would ultimately fail without assistance from government.

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