Aussie dollar has nosedived, what now for GM?
10-14-2008, 06:13 AM
#1
Registered User
Thread Starter
Join Date: Mar 2005
Location: Melbourne, Australia
Posts: 3,123
Aussie dollar has nosedived, what now for GM?
Although it's good news for GM in regards to the Pontiac G8, if Camaro happens to land here it might be just too expensive for some (me included)! 
I wonder if GM will also take advantage of the favorable exchange rates and accelerate plans to develop the Alpha/Torana platform for global consumption?
$AUD = $USD 0.66
$AUD = $CAD 0.76
I wonder if GM will also take advantage of the favorable exchange rates and accelerate plans to develop the Alpha/Torana platform for global consumption?
$AUD = $USD 0.66
$AUD = $CAD 0.76
10-14-2008, 06:31 AM
#2
Registered User
Join Date: Sep 2001
Location: Calgary
Posts: 1,308
Although it's good news for GM in regards to the Pontiac G8, if Camaro happens to land here it might be just too expensive for some (me included)!
I wonder if GM will also take advantage of the favorable exchange rates and accelerate plans to develop the Alpha/Torana platform for global consumption?
$AUD = $USD 0.66
$AUD = $CAD 0.76
I wonder if GM will also take advantage of the favorable exchange rates and accelerate plans to develop the Alpha/Torana platform for global consumption?
$AUD = $USD 0.66
$AUD = $CAD 0.76
10-14-2008, 06:42 AM
#3
Registered User
Join Date: Mar 2001
Location: The Golden State
Posts: 13,711
When I read this post of yours, I had to check it out myself.
To say I'm absolutely astounded would be a understatement. Not sure how that happened almost overnight (or a month), but I'm still shocked.... admittedly in a positive way.
When I met up with you almost a couple of years ago, the Aussie dollar was something like 90 cents US and it threw me for a loop because when I was there a couple of years before that, it was around 60. Before bthings started melting down here, it took pretty close to $1.20.... and I was seriously kicking myself in the ****.
Now, it's back down to 65-72 cents depending where you go.
Dollar also seems to be stronger (though not THAT strong) against other currencies. I guess having credit all but frozen here in the US has made the dollar stronger.
As for automobiles, I suspect that after GM figures out how to finance their operations for another year, the currency exchanges certainly helps the case for a G8 coupe.
To say I'm absolutely astounded would be a understatement. Not sure how that happened almost overnight (or a month), but I'm still shocked.... admittedly in a positive way.
When I met up with you almost a couple of years ago, the Aussie dollar was something like 90 cents US and it threw me for a loop because when I was there a couple of years before that, it was around 60. Before bthings started melting down here, it took pretty close to $1.20.... and I was seriously kicking myself in the ****.
Now, it's back down to 65-72 cents depending where you go.
Dollar also seems to be stronger (though not THAT strong) against other currencies. I guess having credit all but frozen here in the US has made the dollar stronger.
As for automobiles, I suspect that after GM figures out how to finance their operations for another year, the currency exchanges certainly helps the case for a G8 coupe.
10-14-2008, 07:13 AM
#4
Registered User
Join Date: Mar 2002
Location: Yadkinville, NC USA
Posts: 3,180
Sorry to see the painful aspects hitting the shores of Oz.
What it will do for you short-term is make your manufacturing of parts and also your labor appear to be "on sale" for someone looking to have parts made globally. That can be a good thing for your economy as now, many companies in the US, Europe, and the Pacific rim will be looking at what is basically a coupon for 30% off anything they can buy or get from you fine folks in Australia.
Long term, it stinks for you citizens and small business owners. Anything you try to buy - especially those coming in from outside countries - now takes more of your work-hours to pay for. It makes it tougher to maintain your level of lifestyle. Also, it makes it tough to afford travel to other countries. Converse of the example above, you now have a coupon for travel or buying things from other countries but your coupon says "you pay 30% MORE" for anything you buy.
Best thing you can hope for is that your Ministry of Finance sells your manufacturing to the world aggressively to get work and jobs into your economy. Tighten down on credit. If/When you get the work/jobs, pay off your debt first and liberate your cash flow. Regardless, try to get things paid off and don't go deeper into hock - especially not NOW when it's really 30-40% worse that it would normally be. Then look at your trade status with countries like China and Japan. If there are any regulatory loopholes that could be closed or tightened, now is the time. You have bargaining power due to your low exchange rate - use it to leverage those trade deficits and get positioned for a good recovery.
Honestly, I don't know if 30% of the cost to produce would cover the cost of shipping and any tarriffs at port, but it sure would have been nice to see some LHD products from Ford and Holden come over to the States at a good price. Ford and GM would be kicking themselves to have cars available on our lots at a 30% reduction in cost-to-produce right now.
What it will do for you short-term is make your manufacturing of parts and also your labor appear to be "on sale" for someone looking to have parts made globally. That can be a good thing for your economy as now, many companies in the US, Europe, and the Pacific rim will be looking at what is basically a coupon for 30% off anything they can buy or get from you fine folks in Australia.
Long term, it stinks for you citizens and small business owners. Anything you try to buy - especially those coming in from outside countries - now takes more of your work-hours to pay for. It makes it tougher to maintain your level of lifestyle. Also, it makes it tough to afford travel to other countries. Converse of the example above, you now have a coupon for travel or buying things from other countries but your coupon says "you pay 30% MORE" for anything you buy.
Best thing you can hope for is that your Ministry of Finance sells your manufacturing to the world aggressively to get work and jobs into your economy. Tighten down on credit. If/When you get the work/jobs, pay off your debt first and liberate your cash flow. Regardless, try to get things paid off and don't go deeper into hock - especially not NOW when it's really 30-40% worse that it would normally be. Then look at your trade status with countries like China and Japan. If there are any regulatory loopholes that could be closed or tightened, now is the time. You have bargaining power due to your low exchange rate - use it to leverage those trade deficits and get positioned for a good recovery.
Honestly, I don't know if 30% of the cost to produce would cover the cost of shipping and any tarriffs at port, but it sure would have been nice to see some LHD products from Ford and Holden come over to the States at a good price. Ford and GM would be kicking themselves to have cars available on our lots at a 30% reduction in cost-to-produce right now.
10-14-2008, 04:40 PM
#5
Registered User
Thread Starter
Join Date: Mar 2005
Location: Melbourne, Australia
Posts: 3,123
When I read this post of yours, I had to check it out myself.
To say I'm absolutely astounded would be a understatement. Not sure how that happened almost overnight (or a month), but I'm still shocked.... admittedly in a positive way.
When I met up with you almost a couple of years ago, the Aussie dollar was something like 90 cents US and it threw me for a loop because when I was there a couple of years before that, it was around 60. Before bthings started melting down here, it took pretty close to $1.20.... and I was seriously kicking myself in the ****.
Now, it's back down to 65-72 cents depending where you go.
Dollar also seems to be stronger (though not THAT strong) against other currencies. I guess having credit all but frozen here in the US has made the dollar stronger.
As for automobiles, I suspect that after GM figures out how to finance their operations for another year, the currency exchanges certainly helps the case for a G8 coupe.
To say I'm absolutely astounded would be a understatement. Not sure how that happened almost overnight (or a month), but I'm still shocked.... admittedly in a positive way.
When I met up with you almost a couple of years ago, the Aussie dollar was something like 90 cents US and it threw me for a loop because when I was there a couple of years before that, it was around 60. Before bthings started melting down here, it took pretty close to $1.20.... and I was seriously kicking myself in the ****.
Now, it's back down to 65-72 cents depending where you go.
Dollar also seems to be stronger (though not THAT strong) against other currencies. I guess having credit all but frozen here in the US has made the dollar stronger.
As for automobiles, I suspect that after GM figures out how to finance their operations for another year, the currency exchanges certainly helps the case for a G8 coupe.
Sorry to see the painful aspects hitting the shores of Oz.
What it will do for you short-term is make your manufacturing of parts and also your labor appear to be "on sale" for someone looking to have parts made globally. That can be a good thing for your economy as now, many companies in the US, Europe, and the Pacific rim will be looking at what is basically a coupon for 30% off anything they can buy or get from you fine folks in Australia.
Long term, it stinks for you citizens and small business owners. Anything you try to buy - especially those coming in from outside countries - now takes more of your work-hours to pay for. It makes it tougher to maintain your level of lifestyle. Also, it makes it tough to afford travel to other countries. Converse of the example above, you now have a coupon for travel or buying things from other countries but your coupon says "you pay 30% MORE" for anything you buy.
Best thing you can hope for is that your Ministry of Finance sells your manufacturing to the world aggressively to get work and jobs into your economy. Tighten down on credit. If/When you get the work/jobs, pay off your debt first and liberate your cash flow. Regardless, try to get things paid off and don't go deeper into hock - especially not NOW when it's really 30-40% worse that it would normally be. Then look at your trade status with countries like China and Japan. If there are any regulatory loopholes that could be closed or tightened, now is the time. You have bargaining power due to your low exchange rate - use it to leverage those trade deficits and get positioned for a good recovery.
Honestly, I don't know if 30% of the cost to produce would cover the cost of shipping and any tarriffs at port, but it sure would have been nice to see some LHD products from Ford and Holden come over to the States at a good price. Ford and GM would be kicking themselves to have cars available on our lots at a 30% reduction in cost-to-produce right now.
What it will do for you short-term is make your manufacturing of parts and also your labor appear to be "on sale" for someone looking to have parts made globally. That can be a good thing for your economy as now, many companies in the US, Europe, and the Pacific rim will be looking at what is basically a coupon for 30% off anything they can buy or get from you fine folks in Australia.
Long term, it stinks for you citizens and small business owners. Anything you try to buy - especially those coming in from outside countries - now takes more of your work-hours to pay for. It makes it tougher to maintain your level of lifestyle. Also, it makes it tough to afford travel to other countries. Converse of the example above, you now have a coupon for travel or buying things from other countries but your coupon says "you pay 30% MORE" for anything you buy.
Best thing you can hope for is that your Ministry of Finance sells your manufacturing to the world aggressively to get work and jobs into your economy. Tighten down on credit. If/When you get the work/jobs, pay off your debt first and liberate your cash flow. Regardless, try to get things paid off and don't go deeper into hock - especially not NOW when it's really 30-40% worse that it would normally be. Then look at your trade status with countries like China and Japan. If there are any regulatory loopholes that could be closed or tightened, now is the time. You have bargaining power due to your low exchange rate - use it to leverage those trade deficits and get positioned for a good recovery.
Honestly, I don't know if 30% of the cost to produce would cover the cost of shipping and any tarriffs at port, but it sure would have been nice to see some LHD products from Ford and Holden come over to the States at a good price. Ford and GM would be kicking themselves to have cars available on our lots at a 30% reduction in cost-to-produce right now.
BUT, talk is that this is just a temporary upheaval... that China will be buying up all our mining resources, which will force the AU dollar back up. Time will tell.
But it's scary to think the AUD could sink so quickly! Especially for importers/exporters.
10-14-2008, 05:01 PM
#6
Registered User
Join Date: Dec 2005
Location: Annapolis MD
Posts: 2,802
That would be cool if GM could take advantage of it. GM has alot of good product and potential. It would really suck if it comes out strong and they dont have the finances to update keep it the best or take advantage of things like Holden developing RWD...
Thread
Thread Starter
Forum
Replies
Last Post
PFYC
Supporting Vendor Group Purchases and Sales
0
08-17-2015 09:50 AM
fundone2000-RZ
Pacific
0
07-21-2015 07:21 AM
Decromin
Automotive News / Industry / Future Vehicle Discussion
7
12-02-2002 01:19 PM