Ford's failure: a gamble on low oil prices

The loss of 440 jobs at Ford was a foreseeable result of a company that chose to bet its entire Australian manufacturing business on low oil prices. And Australian governments have been complicit in the disaster, failing to apply tough love and disciplined fleet purchasing practices.

Yesterday car manufacturer Ford announced 440 people, primarily from its manufacturing operations located in Melbourne and Geelong, will lose their jobs.  According to Ford Australia, the closures are a direct response to changing customer preferences, which have driven a continued industry-wide decline in the sale of large vehicles.

Ford Australia president Bob Graziano said: “Customer preferences are continuing to move rapidly towards more fuel efficient vehicles.”  

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