A study into the automotive industry commissioned by the three Australian car manufacturers, Holden, Ford and Toyota has been contradicted by another report compiled by the same consultancy firm.
News.com.au reports that the contradictions in the reports have caused the car manufacturers to shelve their original report and commission a revised version which will be released by the end of the year.
The car industry report was completed by Allen Consulting Group. It found that $23 billion would be lost from the economy between 2018 and 2031 if the industry shut down.
It found that the damage to the Australian economy would be far greater than the likely amount of government assistance which would be needed to keep the industry afloat during that period.
But the problem was that, at the same time, ACIL Allen (the company formed when ACIL Tasman merged with the Allen Consulting Group) produced another report for the Property Council of Australia.
That report called for the end of government funding to struggling industries such as the automotive sector.
While both studies were carried out in April this year, the Property Council's report was released before the car industry’s report. As such, the car industry shelved its report to avoid the release of the conflicting results.
According to News.com.au, a revised version of the car industry report will be made public some time this year.