Carbon tax $50 per car

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From the AFR:

The impact of the carbon tax on the car manufacturers is about $50 a vehicle, according to new figures from federal climate change officials.

Ford announced the closure of its Australian operations on Thursday, citing high costs, low production volumes and the rise in value of the $A against its US counterpart.

Opposition Leader Tony Abbott said the decision marked a “black day for Australian manufacturing’’, and he blamed the government, including its implementation of the carbon tax.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.