Prime Minister-elect Tony Abbott says he wants a long-term future for the Australian car industry, but taxpayer support will come with performance expectations.

Holden is hoping to reach a funding agreement with the new Federal Government to secure local production beyond 2016.

The Coalition has foreshadowed cutting $500 million from car industry assistance, which would affect production of Holden vehicles in northern Adelaide.

Mr Abbott has promised there will be ongoing assistance for car makers, but says he wants something in return.

"There will continue to be a high level of assistance to the motor industry, but we expect the motor industry in return for that high level of assistance to provide us with a reasonable indication of how it is going to increase volumes, particularly export volumes," he said.

"I want the car industry in this country to have a long-term, viable future. I don't want it to live from hand-to-mouth.

"I accept that Government has a role in bringing this about but I also think the industry has a role in bringing this about."