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1Industry Outlook New motor vehicle sales in Australia had been increasing steadily from 1991 to 1998 from 514566 to 807669 units respectively when it dropped in 1999 to 786845 units Department of Industry Tourism and Resources 2002 The drop in sales figure from 1998 to 1999 could be attributed to the global economic crisis in which World Bank 1998 had predicted that developing countries will be hardest hit by the economic and social costs of global slowdown in 1998-2000 In year 2000 however sales figure rose slightly again to 787100 Department of Industry Tourism and Resources 2002 Of the new motor vehicles sales in year 2000 703 ownership of vehicles were passenger motor vehicles whilst 271 were sales of light trucks and 25 of heavy trucks sales It is evident that the passenger motor vehicle is the most popular mode of private transportation in Australia Appendix 1 According to Deloitte Touche Tohmatsu Australia 2002 the Australian automotive industry is currently operating in a changeable and unprecedented climate The industry is depicted as one with high fixed costs and slim margins In addition there is global over-capacity of participants and a small volume base in Australia Deloitte Touche Tohmatsu Australia 2002 Some of the factors affecting the industry include the implementation of the Goods and Services Tax GST the new Automotive Competitiveness and Investment Scheme ACIS the international escalation of interest rates the global reach of markets and growth of eCommerce which has seen a hike in the number of consumers accessing information and purchasing online Deloitte Touche Tohmatsu Australia 2002 2Analysis of the Australian Automotive Industry 21Opportunities As mentioned earlier the introduction of the GST is one of the factors affecting the industry Introduced in July 2000 the GST was a shift from the Wholesales Sales Tax WST a form of indirect taxes on inputs Australian Competition and Consumer Commission GST 2000 Prior to the GST implementation car manufacturers in anticipation of
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