Rescuing the car industry from its collision course

General Motors' exit from manufacturing will raise questions about Toyota's viability in Australia. The Abbott government must seriously consider throwing a lifeline to parts makers to stem inevitable job losses.

Treasurer Joe Hockey and the federal government are looking down the barrel at a loss of between 100,000 and 150,000 jobs in Australia if the decision to close General Motors in Australia leads to Toyota also closing.

General Motors would probably have shut anyway, given the uncertainty of government assistance. But Treasurer Joe Hockey’s statement yesterday sealed its fate.

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