Nissan bows out: car maker to shut Australian plant

Article Abstract:

Nissan Motor Company Ltd will shut down its automobile plant in Clayton, Melbourne, Australia. The plant closure follows a 29% reduction in Nissan vehicle registration, a loss of $94 million which marked the lowest market share recorded among car manufacturers in Australia in 1991. The shutdown is expected to layoff some 1,800 employees and to affect 6,000 more employees of parts suppliers. Although Nissan is closing down its manufacturing operations, it is expected to continue selling imported cars in Australia and is likely to capture 5% of the market.

Management, Automobile industry, Market share, Plant shutdowns, Nissan Motor Company Ltd., Toyota Motor Corporation Australia Ltd., Nissan Motor Manufacturing Company Australia Ltd.

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Australian revival

Article Abstract:

Demand for Australian paintings has increased as half of 2,400 paintings auctioned in Melbourne were sold, some for much higher than their reserve prices. Bidding was strong among a wide range of private collectors and dealers who were attracted by the first chance to buy works that were previously held in private collections for years and had no reference price. Falling interest rates and dealers having sold stock accumulated during the slump of 1990-1992 proved to be factors in the success of the auctions.

Australia, Marketing, Art, Painting, Painting (Art)

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