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I work for a first tier automotive supplier and I can tell you that the from where I sit, the automotive industry is in trouble. We build components for Holden, Toyota, Mitsubishi and a little bit of Ford. Over the last 3 - 6 months, we have lost a lot of business, especially from Holden and Toyota.
Holden sourced most of the products we made overseas at a cheaper rate, and cancelled contracts here. Things that we had devolved from scratch, and told would be put into cars, got scrapped and sourced globally.
Toyota is a bit different, they wanted to expand their supplier base and so gave some of our business to another Japanese based company.
In my opinion, automotive suppliers are in alot more trouble than the EOM's. I mean, all manufactures are going global, which opens the doors for cheaper cars and development, but it means that suppliers in Aus have to bite the bullet and start sourcing their own components from the global market.
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