“AUSTRALIA’S LAST” CAR MANUFACTURER ENTERS ADMINISTRATION – Industry Update
Tomcar Australia, subject of a round of 2017 articles that labeled it as “Australia’s last automotive manufacturer”, has gone into voluntary administration. Citing hostile investors and increasing costs of business, admistrators confirmed the turnover for Tomcar in the 2016-17 financial year was $4.65 million, despite previous reports that the companys turnover was just under $10 million.…