How has the credit crunch changed your world?
Big ticket items such as new vehicles are naturally one of the first markets to be affected when credit is not easily accessible.
The rapid change in the world's economic situation has reinforced to us that our strategy of
innovation in the area of energy diversity is the right direction now more than ever.
As a result Holden is developing more alternative fuel and fuel-saving technologies than at any other time in our history.
How serious is the current downturn in a historical context?
These are certainly challenging times for the automotive industry. The lack of available credit has meant that industry sales are significantly down, at levels similar to those seen in 2002. Of course there were no significant financial issues during 2002 but the market had continued
to experience high growth rates prior to the credit crunch.
It is important to remember that we have been through difficult financial times before and we will come through it.
What helps you put it in perspective and stay positive?
Recognising these short-term challenges as just that - short-term, and focusing on the things we can control such as growing market share, innovating and investing in our future. The fact that we will be delivering on our strategy during 2009 with the introduction of more economical cars, including more small cars, is very positive.
Investment in automotive manufacturing by the Australian Government is also cause for a positive outlook as it has paved the way for a decade of innovation for Holden and others in our industry.
