New Ford passenger cars on the way: could Fiesta and Focus return?
According to Automotive News Europe, a directive from Ford CEO Jim Farley has been issued to develop passenger cars – distinct from SUVs – at Ford of Europe.
Ford of Europe was previously the centre for the brand's key passenger cars, most recently including the Fiesta, Focus and Mondeo that were all offered in Australia.
Dealers were reportedly told the news during a conference call with Christoph Herr, chief of Ford's German-speaking markets.
Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now.
The automaker didn't make any official comment when asked about the plan by Automotive News Europe.
The motive for the decision – which may include an entry-level price-leading product – hasn't been revealed.
It also comes despite SUVs continuing to outsell hatchbacks and sedans in Europe, the United Kingdom, the United States and Australia.
Ford's showrooms globally, including Australia, are currently dominated by SUVs and pickups, with sliding sales of conventional hatchbacks and sedans leading to their disappearance from showrooms.
The rise in popularity of SUVs saw them overtake passenger car sales in Europe in 2015, with SUVs doing the same in Australia in February 2017 – and remaining ahead ever since.
In Australia, 56.9 per cent of all new vehicle sales last year were SUVs, led by the Toyota RAV4, while traditional passenger cars made up 17.1 per cent.
Sales figures from JATO reveal SUVs made up a similar 54 per cent of all vehicle sales in Europe in 2024 as hatchbacks and sedans dropped further behind with declines in the Fiesta's B-segment, Focus' C-segment and Mondeo's D-segment.
While the Ford Fiesta was the brand's best-selling car in Europe – and a key model in the brand's navigation of the 2008 Global Financial Crisis – the Puma crossover SUV has since taken over the mantle.
The Puma – sold in Australia between 2020 and 2024 – was the UK's number one seller in 2024 ahead of the Kia Sportage and Nissan Qashqai SUVs.
In Australia, the Ford Ranger ute has been at the top of the sales charts – knocking off the Toyota HiLux – for the past two years, with its Everest SUV spin-off accounting for around 90 per cent of the brand's total sales.
Its third-best seller is the Ford Mustang – a two-door sports coupe and convertible – which has been the only passenger car offering in Australian dealers since 2022.
That's when Ford Australia dropped both the Fiesta small hatch/sedan and Volkswagen Golf-sized Focus, following the Toyota Camry-rivalling Mondeo's 2019 axing.
All three suffered dwindling sales as their segments declined, market conditions which also saw the end of once-popular models like the Mazda 6.
Globally, production of the European Mondeo ended in 2022, while the last Fiesta was manufactured in 2023 – despite its lengthy stay atop UK sales charts to hold the record as the country's all-time highest-selling nameplate.
Ford pulled the plug on its Galaxy and S-Max people movers in 2022 as well.
The final Focus – after more than 12 million produced – is scheduled to roll off the production line this November.
The Blue Oval has introduced fresh product in Europe in the Capri and Explorer electric SUVs as it has shifted its focus to more profitable SUVs and electric vehicles, as well as commercial vehicles.
However, these Volkswagen-based models haven't proved to be huge sellers, and Ford's European sales have continued to decline.
Ford has only a handful of passenger cars left globally. There's the iconic Mustang, while in China there's another generation of Mondeo – exported to the Middle East as the Taurus – plus a higher-riding Mondeo Sport companion.
The Mondeo/Taurus and Mondeo Sport come out of Ford's joint venture with Chinese automaker Changan.
MORE: Ford Ranger, Everest lead Blue Oval's best result in 16 years
MORE: Everything Ford
Content originally sourced from: CarExpert.com.au
Ford is set to re-introduce passenger cars to its European lineup, with the company reportedly telling its dealers it has new one in the works.
According to Automotive News Europe, a directive from Ford CEO Jim Farley has been issued to develop passenger cars – distinct from SUVs – at Ford of Europe.
Ford of Europe was previously the centre for the brand's key passenger cars, most recently including the Fiesta, Focus and Mondeo that were all offered in Australia.
Dealers were reportedly told the news during a conference call with Christoph Herr, chief of Ford's German-speaking markets.
Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now.
The automaker didn't make any official comment when asked about the plan by Automotive News Europe.
The motive for the decision – which may include an entry-level price-leading product – hasn't been revealed.
It also comes despite SUVs continuing to outsell hatchbacks and sedans in Europe, the United Kingdom, the United States and Australia.
Ford's showrooms globally, including Australia, are currently dominated by SUVs and pickups, with sliding sales of conventional hatchbacks and sedans leading to their disappearance from showrooms.
The rise in popularity of SUVs saw them overtake passenger car sales in Europe in 2015, with SUVs doing the same in Australia in February 2017 – and remaining ahead ever since.
In Australia, 56.9 per cent of all new vehicle sales last year were SUVs, led by the Toyota RAV4, while traditional passenger cars made up 17.1 per cent.
Sales figures from JATO reveal SUVs made up a similar 54 per cent of all vehicle sales in Europe in 2024 as hatchbacks and sedans dropped further behind with declines in the Fiesta's B-segment, Focus' C-segment and Mondeo's D-segment.
While the Ford Fiesta was the brand's best-selling car in Europe – and a key model in the brand's navigation of the 2008 Global Financial Crisis – the Puma crossover SUV has since taken over the mantle.
The Puma – sold in Australia between 2020 and 2024 – was the UK's number one seller in 2024 ahead of the Kia Sportage and Nissan Qashqai SUVs.
In Australia, the Ford Ranger ute has been at the top of the sales charts – knocking off the Toyota HiLux – for the past two years, with its Everest SUV spin-off accounting for around 90 per cent of the brand's total sales.
Its third-best seller is the Ford Mustang – a two-door sports coupe and convertible – which has been the only passenger car offering in Australian dealers since 2022.
That's when Ford Australia dropped both the Fiesta small hatch/sedan and Volkswagen Golf-sized Focus, following the Toyota Camry-rivalling Mondeo's 2019 axing.
All three suffered dwindling sales as their segments declined, market conditions which also saw the end of once-popular models like the Mazda 6.
Globally, production of the European Mondeo ended in 2022, while the last Fiesta was manufactured in 2023 – despite its lengthy stay atop UK sales charts to hold the record as the country's all-time highest-selling nameplate.
Ford pulled the plug on its Galaxy and S-Max people movers in 2022 as well.
The final Focus – after more than 12 million produced – is scheduled to roll off the production line this November.
The Blue Oval has introduced fresh product in Europe in the Capri and Explorer electric SUVs as it has shifted its focus to more profitable SUVs and electric vehicles, as well as commercial vehicles.
However, these Volkswagen-based models haven't proved to be huge sellers, and Ford's European sales have continued to decline.
Ford has only a handful of passenger cars left globally. There's the iconic Mustang, while in China there's another generation of Mondeo – exported to the Middle East as the Taurus – plus a higher-riding Mondeo Sport companion.
The Mondeo/Taurus and Mondeo Sport come out of Ford's joint venture with Chinese automaker Changan.
MORE: Ford Ranger, Everest lead Blue Oval's best result in 16 years
MORE: Everything Ford
Content originally sourced from: CarExpert.com.au
Ford is set to re-introduce passenger cars to its European lineup, with the company reportedly telling its dealers it has new one in the works.
According to Automotive News Europe, a directive from Ford CEO Jim Farley has been issued to develop passenger cars – distinct from SUVs – at Ford of Europe.
Ford of Europe was previously the centre for the brand's key passenger cars, most recently including the Fiesta, Focus and Mondeo that were all offered in Australia.
Dealers were reportedly told the news during a conference call with Christoph Herr, chief of Ford's German-speaking markets.
Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now.
The automaker didn't make any official comment when asked about the plan by Automotive News Europe.
The motive for the decision – which may include an entry-level price-leading product – hasn't been revealed.
It also comes despite SUVs continuing to outsell hatchbacks and sedans in Europe, the United Kingdom, the United States and Australia.
Ford's showrooms globally, including Australia, are currently dominated by SUVs and pickups, with sliding sales of conventional hatchbacks and sedans leading to their disappearance from showrooms.
The rise in popularity of SUVs saw them overtake passenger car sales in Europe in 2015, with SUVs doing the same in Australia in February 2017 – and remaining ahead ever since.
In Australia, 56.9 per cent of all new vehicle sales last year were SUVs, led by the Toyota RAV4, while traditional passenger cars made up 17.1 per cent.
Sales figures from JATO reveal SUVs made up a similar 54 per cent of all vehicle sales in Europe in 2024 as hatchbacks and sedans dropped further behind with declines in the Fiesta's B-segment, Focus' C-segment and Mondeo's D-segment.
While the Ford Fiesta was the brand's best-selling car in Europe – and a key model in the brand's navigation of the 2008 Global Financial Crisis – the Puma crossover SUV has since taken over the mantle.
The Puma – sold in Australia between 2020 and 2024 – was the UK's number one seller in 2024 ahead of the Kia Sportage and Nissan Qashqai SUVs.
In Australia, the Ford Ranger ute has been at the top of the sales charts – knocking off the Toyota HiLux – for the past two years, with its Everest SUV spin-off accounting for around 90 per cent of the brand's total sales.
Its third-best seller is the Ford Mustang – a two-door sports coupe and convertible – which has been the only passenger car offering in Australian dealers since 2022.
That's when Ford Australia dropped both the Fiesta small hatch/sedan and Volkswagen Golf-sized Focus, following the Toyota Camry-rivalling Mondeo's 2019 axing.
All three suffered dwindling sales as their segments declined, market conditions which also saw the end of once-popular models like the Mazda 6.
Globally, production of the European Mondeo ended in 2022, while the last Fiesta was manufactured in 2023 – despite its lengthy stay atop UK sales charts to hold the record as the country's all-time highest-selling nameplate.
Ford pulled the plug on its Galaxy and S-Max people movers in 2022 as well.
The final Focus – after more than 12 million produced – is scheduled to roll off the production line this November.
The Blue Oval has introduced fresh product in Europe in the Capri and Explorer electric SUVs as it has shifted its focus to more profitable SUVs and electric vehicles, as well as commercial vehicles.
However, these Volkswagen-based models haven't proved to be huge sellers, and Ford's European sales have continued to decline.
Ford has only a handful of passenger cars left globally. There's the iconic Mustang, while in China there's another generation of Mondeo – exported to the Middle East as the Taurus – plus a higher-riding Mondeo Sport companion.
The Mondeo/Taurus and Mondeo Sport come out of Ford's joint venture with Chinese automaker Changan.
MORE: Ford Ranger, Everest lead Blue Oval's best result in 16 years
MORE: Everything Ford
Content originally sourced from: CarExpert.com.au
Ford is set to re-introduce passenger cars to its European lineup, with the company reportedly telling its dealers it has new one in the works.
According to Automotive News Europe, a directive from Ford CEO Jim Farley has been issued to develop passenger cars – distinct from SUVs – at Ford of Europe.
Ford of Europe was previously the centre for the brand's key passenger cars, most recently including the Fiesta, Focus and Mondeo that were all offered in Australia.
Dealers were reportedly told the news during a conference call with Christoph Herr, chief of Ford's German-speaking markets.
Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now.
The automaker didn't make any official comment when asked about the plan by Automotive News Europe.
The motive for the decision – which may include an entry-level price-leading product – hasn't been revealed.
It also comes despite SUVs continuing to outsell hatchbacks and sedans in Europe, the United Kingdom, the United States and Australia.
Ford's showrooms globally, including Australia, are currently dominated by SUVs and pickups, with sliding sales of conventional hatchbacks and sedans leading to their disappearance from showrooms.
The rise in popularity of SUVs saw them overtake passenger car sales in Europe in 2015, with SUVs doing the same in Australia in February 2017 – and remaining ahead ever since.
In Australia, 56.9 per cent of all new vehicle sales last year were SUVs, led by the Toyota RAV4, while traditional passenger cars made up 17.1 per cent.
Sales figures from JATO reveal SUVs made up a similar 54 per cent of all vehicle sales in Europe in 2024 as hatchbacks and sedans dropped further behind with declines in the Fiesta's B-segment, Focus' C-segment and Mondeo's D-segment.
While the Ford Fiesta was the brand's best-selling car in Europe – and a key model in the brand's navigation of the 2008 Global Financial Crisis – the Puma crossover SUV has since taken over the mantle.
The Puma – sold in Australia between 2020 and 2024 – was the UK's number one seller in 2024 ahead of the Kia Sportage and Nissan Qashqai SUVs.
In Australia, the Ford Ranger ute has been at the top of the sales charts – knocking off the Toyota HiLux – for the past two years, with its Everest SUV spin-off accounting for around 90 per cent of the brand's total sales.
Its third-best seller is the Ford Mustang – a two-door sports coupe and convertible – which has been the only passenger car offering in Australian dealers since 2022.
That's when Ford Australia dropped both the Fiesta small hatch/sedan and Volkswagen Golf-sized Focus, following the Toyota Camry-rivalling Mondeo's 2019 axing.
All three suffered dwindling sales as their segments declined, market conditions which also saw the end of once-popular models like the Mazda 6.
Globally, production of the European Mondeo ended in 2022, while the last Fiesta was manufactured in 2023 – despite its lengthy stay atop UK sales charts to hold the record as the country's all-time highest-selling nameplate.
Ford pulled the plug on its Galaxy and S-Max people movers in 2022 as well.
The final Focus – after more than 12 million produced – is scheduled to roll off the production line this November.
The Blue Oval has introduced fresh product in Europe in the Capri and Explorer electric SUVs as it has shifted its focus to more profitable SUVs and electric vehicles, as well as commercial vehicles.
However, these Volkswagen-based models haven't proved to be huge sellers, and Ford's European sales have continued to decline.
Ford has only a handful of passenger cars left globally. There's the iconic Mustang, while in China there's another generation of Mondeo – exported to the Middle East as the Taurus – plus a higher-riding Mondeo Sport companion.
The Mondeo/Taurus and Mondeo Sport come out of Ford's joint venture with Chinese automaker Changan.
MORE: Ford Ranger, Everest lead Blue Oval's best result in 16 years
MORE: Everything Ford
Content originally sourced from: CarExpert.com.au
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The Advertiser
20 hours ago
- The Advertiser
Newcastle to become state's first berthing for luxury superyachts
The Newcastle Cruising Yacht Club will be the beneficiary of $5 million in state funding to expand its berthing marina to accommodate up eight luxe superyachts in a move that it promises will be a boon for the regional tourism economy. Club CEO Paul O'Rourke said there were about 30 superyachts owned in Australia, but the country was a premier destination for repair and vessel maintenance in the Southern Hemisphere such that it was expected to account for some eight per cent of the global market by the end of the year, amounting to around 533 vessels. The funding is expected to be put towards building 200 metres of dedicated marina berth that is specifically designed to accommodate the larger vessels, with extra weight and power facilities. The move to expand the Newcastle marina on Hannell Street is expected to put Newcastle in a competitive stead with Queensland, long regarded as the Australian home for superyacht construction, and will represent the only such dedicated maintenance berth in NSW. Mr O'Rourke said, while Newcastle would not build the vessels, positioning the city as a maintenance hub for the yachts that are estimated to cost between $2 million and $5 million a year to run, would unlock the Pacific for European travellers and see tourism spending flow through the Hunter. "There are probably over 30 superyachts in Australia at the moment," he said. "But the key is there are 100 coming. There are a lot of superyachts in Europe that all want to come to Australia and the Pacific, and at the moment we don't have the Pacific facilities." "We regularly get phone calls from boats out in Tahiti that want to come to Australia and park up. We haven't got the facility yet." Minister for the Hunter Yasmin Catley said the NSW Government's investment of $5 million, to which the Newcastle yacht club would add 20 per cent of the overall $6 million build costs, made sense for the state's second city. "We are a maritime city," she said. "So, it makes sense for us to can have those yachts that can travel from as far far as Europe on their way up to Northern Queensland and to further places into the Pacific." "This will become their go-to stopover." The yacht club's Commodore, Barry Kelly, said the completed projected which is estimated to be about two years away, would be equipped to provide "medium-level" maintenance to the vessels, replacing parts and servicing engines and complex onboard systems, that would generate jobs in the region. "Superyachts spend about four times as much in the region as they do on the berthing," he said. "Our spend on maintaining this facility in the last financial year was about $800,000." The funding has been carved out of the NSW Regional Development Trust, which Regional NSW Minister Tara Moriarty said was to prop up merit-based projects that would create jobs and economic boons for regional economies. "We have made a big deal out of this new fund and this new way of investing in our regions," she said. "This is really going to make a big difference for the local economy." The $70 million Callisto - believed to have been the largest and most expensive yacht to visit Newcastle - was spotted in the marina in 2019. lt is owned by Barbados billionaire Derrick Smith who was reportedly a co-owner of the renowned Coolmore Stud, which has operations in the Upper Hunter, Ireland and the US. The Australian superyacht sector is estimated to have a fleet value of over $7.5 billion, with annual maintenance expenditure of over $575 million. Operational expenditure in Australia, including crew wages and berthing, is worth about $400 million. A proposal document for the project, seen by the Newcastle Herald, lists more than 400 vessels over 30 metres based in the Asia Pacific. The industry is said to support about 14,500 full-time jobs, paying about $1.2 billion in wages and salaries, and with Sydney reaching capacity, overflow was being directed to Queensland and Victoria. The yacht club's pitch to secure funding amounted to positioning Newcastle to cater to provide a state's-first and one-stop shop for the super rich to dock and have their vessels serviced, estimated to represent up to 1400 jobs. According to Superyachts Australia, the number of luxury vessels in NSW has increased by 52 per cent since 2021, with 17 accounted for in 2023. The economic impact of a visiting vessel was estimated to be about $1.34 million that year. The Newcastle Cruising Yacht Club will be the beneficiary of $5 million in state funding to expand its berthing marina to accommodate up eight luxe superyachts in a move that it promises will be a boon for the regional tourism economy. Club CEO Paul O'Rourke said there were about 30 superyachts owned in Australia, but the country was a premier destination for repair and vessel maintenance in the Southern Hemisphere such that it was expected to account for some eight per cent of the global market by the end of the year, amounting to around 533 vessels. The funding is expected to be put towards building 200 metres of dedicated marina berth that is specifically designed to accommodate the larger vessels, with extra weight and power facilities. The move to expand the Newcastle marina on Hannell Street is expected to put Newcastle in a competitive stead with Queensland, long regarded as the Australian home for superyacht construction, and will represent the only such dedicated maintenance berth in NSW. Mr O'Rourke said, while Newcastle would not build the vessels, positioning the city as a maintenance hub for the yachts that are estimated to cost between $2 million and $5 million a year to run, would unlock the Pacific for European travellers and see tourism spending flow through the Hunter. "There are probably over 30 superyachts in Australia at the moment," he said. "But the key is there are 100 coming. There are a lot of superyachts in Europe that all want to come to Australia and the Pacific, and at the moment we don't have the Pacific facilities." "We regularly get phone calls from boats out in Tahiti that want to come to Australia and park up. We haven't got the facility yet." Minister for the Hunter Yasmin Catley said the NSW Government's investment of $5 million, to which the Newcastle yacht club would add 20 per cent of the overall $6 million build costs, made sense for the state's second city. "We are a maritime city," she said. "So, it makes sense for us to can have those yachts that can travel from as far far as Europe on their way up to Northern Queensland and to further places into the Pacific." "This will become their go-to stopover." The yacht club's Commodore, Barry Kelly, said the completed projected which is estimated to be about two years away, would be equipped to provide "medium-level" maintenance to the vessels, replacing parts and servicing engines and complex onboard systems, that would generate jobs in the region. "Superyachts spend about four times as much in the region as they do on the berthing," he said. "Our spend on maintaining this facility in the last financial year was about $800,000." The funding has been carved out of the NSW Regional Development Trust, which Regional NSW Minister Tara Moriarty said was to prop up merit-based projects that would create jobs and economic boons for regional economies. "We have made a big deal out of this new fund and this new way of investing in our regions," she said. "This is really going to make a big difference for the local economy." The $70 million Callisto - believed to have been the largest and most expensive yacht to visit Newcastle - was spotted in the marina in 2019. lt is owned by Barbados billionaire Derrick Smith who was reportedly a co-owner of the renowned Coolmore Stud, which has operations in the Upper Hunter, Ireland and the US. The Australian superyacht sector is estimated to have a fleet value of over $7.5 billion, with annual maintenance expenditure of over $575 million. Operational expenditure in Australia, including crew wages and berthing, is worth about $400 million. A proposal document for the project, seen by the Newcastle Herald, lists more than 400 vessels over 30 metres based in the Asia Pacific. The industry is said to support about 14,500 full-time jobs, paying about $1.2 billion in wages and salaries, and with Sydney reaching capacity, overflow was being directed to Queensland and Victoria. The yacht club's pitch to secure funding amounted to positioning Newcastle to cater to provide a state's-first and one-stop shop for the super rich to dock and have their vessels serviced, estimated to represent up to 1400 jobs. According to Superyachts Australia, the number of luxury vessels in NSW has increased by 52 per cent since 2021, with 17 accounted for in 2023. The economic impact of a visiting vessel was estimated to be about $1.34 million that year. The Newcastle Cruising Yacht Club will be the beneficiary of $5 million in state funding to expand its berthing marina to accommodate up eight luxe superyachts in a move that it promises will be a boon for the regional tourism economy. Club CEO Paul O'Rourke said there were about 30 superyachts owned in Australia, but the country was a premier destination for repair and vessel maintenance in the Southern Hemisphere such that it was expected to account for some eight per cent of the global market by the end of the year, amounting to around 533 vessels. The funding is expected to be put towards building 200 metres of dedicated marina berth that is specifically designed to accommodate the larger vessels, with extra weight and power facilities. The move to expand the Newcastle marina on Hannell Street is expected to put Newcastle in a competitive stead with Queensland, long regarded as the Australian home for superyacht construction, and will represent the only such dedicated maintenance berth in NSW. Mr O'Rourke said, while Newcastle would not build the vessels, positioning the city as a maintenance hub for the yachts that are estimated to cost between $2 million and $5 million a year to run, would unlock the Pacific for European travellers and see tourism spending flow through the Hunter. "There are probably over 30 superyachts in Australia at the moment," he said. "But the key is there are 100 coming. There are a lot of superyachts in Europe that all want to come to Australia and the Pacific, and at the moment we don't have the Pacific facilities." "We regularly get phone calls from boats out in Tahiti that want to come to Australia and park up. We haven't got the facility yet." Minister for the Hunter Yasmin Catley said the NSW Government's investment of $5 million, to which the Newcastle yacht club would add 20 per cent of the overall $6 million build costs, made sense for the state's second city. "We are a maritime city," she said. "So, it makes sense for us to can have those yachts that can travel from as far far as Europe on their way up to Northern Queensland and to further places into the Pacific." "This will become their go-to stopover." The yacht club's Commodore, Barry Kelly, said the completed projected which is estimated to be about two years away, would be equipped to provide "medium-level" maintenance to the vessels, replacing parts and servicing engines and complex onboard systems, that would generate jobs in the region. "Superyachts spend about four times as much in the region as they do on the berthing," he said. "Our spend on maintaining this facility in the last financial year was about $800,000." The funding has been carved out of the NSW Regional Development Trust, which Regional NSW Minister Tara Moriarty said was to prop up merit-based projects that would create jobs and economic boons for regional economies. "We have made a big deal out of this new fund and this new way of investing in our regions," she said. "This is really going to make a big difference for the local economy." The $70 million Callisto - believed to have been the largest and most expensive yacht to visit Newcastle - was spotted in the marina in 2019. lt is owned by Barbados billionaire Derrick Smith who was reportedly a co-owner of the renowned Coolmore Stud, which has operations in the Upper Hunter, Ireland and the US. The Australian superyacht sector is estimated to have a fleet value of over $7.5 billion, with annual maintenance expenditure of over $575 million. Operational expenditure in Australia, including crew wages and berthing, is worth about $400 million. A proposal document for the project, seen by the Newcastle Herald, lists more than 400 vessels over 30 metres based in the Asia Pacific. The industry is said to support about 14,500 full-time jobs, paying about $1.2 billion in wages and salaries, and with Sydney reaching capacity, overflow was being directed to Queensland and Victoria. The yacht club's pitch to secure funding amounted to positioning Newcastle to cater to provide a state's-first and one-stop shop for the super rich to dock and have their vessels serviced, estimated to represent up to 1400 jobs. According to Superyachts Australia, the number of luxury vessels in NSW has increased by 52 per cent since 2021, with 17 accounted for in 2023. The economic impact of a visiting vessel was estimated to be about $1.34 million that year. The Newcastle Cruising Yacht Club will be the beneficiary of $5 million in state funding to expand its berthing marina to accommodate up eight luxe superyachts in a move that it promises will be a boon for the regional tourism economy. Club CEO Paul O'Rourke said there were about 30 superyachts owned in Australia, but the country was a premier destination for repair and vessel maintenance in the Southern Hemisphere such that it was expected to account for some eight per cent of the global market by the end of the year, amounting to around 533 vessels. The funding is expected to be put towards building 200 metres of dedicated marina berth that is specifically designed to accommodate the larger vessels, with extra weight and power facilities. The move to expand the Newcastle marina on Hannell Street is expected to put Newcastle in a competitive stead with Queensland, long regarded as the Australian home for superyacht construction, and will represent the only such dedicated maintenance berth in NSW. Mr O'Rourke said, while Newcastle would not build the vessels, positioning the city as a maintenance hub for the yachts that are estimated to cost between $2 million and $5 million a year to run, would unlock the Pacific for European travellers and see tourism spending flow through the Hunter. "There are probably over 30 superyachts in Australia at the moment," he said. "But the key is there are 100 coming. There are a lot of superyachts in Europe that all want to come to Australia and the Pacific, and at the moment we don't have the Pacific facilities." "We regularly get phone calls from boats out in Tahiti that want to come to Australia and park up. We haven't got the facility yet." Minister for the Hunter Yasmin Catley said the NSW Government's investment of $5 million, to which the Newcastle yacht club would add 20 per cent of the overall $6 million build costs, made sense for the state's second city. "We are a maritime city," she said. "So, it makes sense for us to can have those yachts that can travel from as far far as Europe on their way up to Northern Queensland and to further places into the Pacific." "This will become their go-to stopover." The yacht club's Commodore, Barry Kelly, said the completed projected which is estimated to be about two years away, would be equipped to provide "medium-level" maintenance to the vessels, replacing parts and servicing engines and complex onboard systems, that would generate jobs in the region. "Superyachts spend about four times as much in the region as they do on the berthing," he said. "Our spend on maintaining this facility in the last financial year was about $800,000." The funding has been carved out of the NSW Regional Development Trust, which Regional NSW Minister Tara Moriarty said was to prop up merit-based projects that would create jobs and economic boons for regional economies. "We have made a big deal out of this new fund and this new way of investing in our regions," she said. "This is really going to make a big difference for the local economy." The $70 million Callisto - believed to have been the largest and most expensive yacht to visit Newcastle - was spotted in the marina in 2019. lt is owned by Barbados billionaire Derrick Smith who was reportedly a co-owner of the renowned Coolmore Stud, which has operations in the Upper Hunter, Ireland and the US. The Australian superyacht sector is estimated to have a fleet value of over $7.5 billion, with annual maintenance expenditure of over $575 million. Operational expenditure in Australia, including crew wages and berthing, is worth about $400 million. A proposal document for the project, seen by the Newcastle Herald, lists more than 400 vessels over 30 metres based in the Asia Pacific. The industry is said to support about 14,500 full-time jobs, paying about $1.2 billion in wages and salaries, and with Sydney reaching capacity, overflow was being directed to Queensland and Victoria. The yacht club's pitch to secure funding amounted to positioning Newcastle to cater to provide a state's-first and one-stop shop for the super rich to dock and have their vessels serviced, estimated to represent up to 1400 jobs. According to Superyachts Australia, the number of luxury vessels in NSW has increased by 52 per cent since 2021, with 17 accounted for in 2023. The economic impact of a visiting vessel was estimated to be about $1.34 million that year.
Sydney Morning Herald
a day ago
- Sydney Morning Herald
Cheesed off: Swiss meltdown over Trump's ‘incomprehensible' tariff whack
London: Swiss companies are reeling from a shock move by US President Donald Trump to slap a 39 per cent tariff on their exports, stunning brand-name suppliers of luxury watches, jewellery, cheese and chocolate. Swiss chocolate makers have declared the move 'incomprehensible' and are warning it will hit them hard, as the changes flow through to higher prices for American customers. The biggest names in luxury watches, already suffering a slowdown in America after Trump's previous trade decisions, now confront extraordinary price hikes that could lead them to expand sales in other markets. Trump spared Australia from higher penalties in his sweeping trade decision on Thursday, leaving tariffs at 10 per cent for most Australian exports, but he singled out Switzerland with the biggest blow to any European country. At 39 per cent, the new rate is higher than the 31 per cent tariff the president proposed in April – and much worse than Swiss leaders expected. The decision puts the Swiss exporters at a grave disadvantage to competitors in Belgium, France, Germany, Italy and other countries that will incur the 15 per cent tariff applied to the European Union. While Americans may have to pay steeper prices for Bally fashion made in Switzerland, they would incur a more modest price hike for a Dior item made in France or Armani product made in Italy. 'It is incomprehensible why Switzerland is affected by these tariffs, as reciprocity is out of the question,' industry group Chocosuisse said, repeating concerns it aired in April.
The Age
a day ago
- The Age
Cheesed off: Swiss meltdown over Trump's ‘incomprehensible' tariff whack
London: Swiss companies are reeling from a shock move by US President Donald Trump to slap a 39 per cent tariff on their exports, stunning brand-name suppliers of luxury watches, jewellery, cheese and chocolate. Swiss chocolate makers have declared the move 'incomprehensible' and are warning it will hit them hard, as the changes flow through to higher prices for American customers. The biggest names in luxury watches, already suffering a slowdown in America after Trump's previous trade decisions, now confront extraordinary price hikes that could lead them to expand sales in other markets. Trump spared Australia from higher penalties in his sweeping trade decision on Thursday, leaving tariffs at 10 per cent for most Australian exports, but he singled out Switzerland with the biggest blow to any European country. At 39 per cent, the new rate is higher than the 31 per cent tariff the president proposed in April – and much worse than Swiss leaders expected. The decision puts the Swiss exporters at a grave disadvantage to competitors in Belgium, France, Germany, Italy and other countries that will incur the 15 per cent tariff applied to the European Union. While Americans may have to pay steeper prices for Bally fashion made in Switzerland, they would incur a more modest price hike for a Dior item made in France or Armani product made in Italy. 'It is incomprehensible why Switzerland is affected by these tariffs, as reciprocity is out of the question,' industry group Chocosuisse said, repeating concerns it aired in April.
