I read on here somewhere that there are 130 different brands of camper, caravan etc going around. Many of those brands get by with only a small number of sales each year. Take a walk around the Rosehill camping show and you will get the idea.
As such, I wouldn't be worried if a small number of them shut up shop from time to time as the market will replace them via supply-and-demand. Remember that we don't know why xtrail closed, just that it was financial. That could mean just about anything. Its certainly not the end of an industry.
I think caravan and camper manufacturing is right for Australia. Its a relatively simple product but can have a high level of design and integrity. There is little low-skill labour needed, most of the labour is "craftsman" level. We can produce many different grades and variations of the product, its built for purpose, highly customised and it can be done smart and stylish. Car manufacturing is the exact opposite of all of this. Car manufacturing is completely derivative, high volume, high overhead, lots of low-skill labour needed. We will never compete in car manufacturing because as KB said, we are a tiny isolated market with low turnover.
Australia does have a future in manufacturing, we've just got to focus on the right sort of manufacturing: specialist, simple design, customised, high-skill, detailed, high tech, profitable through low volume ie camper trailers and caravans. Other similar areas include mining equipment, military equipment, marine, aviation etc. That's what we should be making, not bloody cars.