Toyota Australia confirms it will cease local car production in 2017.
It should come as no great surprise but Toyota has confirmed it will switch off its local car production operations in 2017.
The decision is a double blow for Australia with thousands of locally built Camry’s currently exported.
A statement issued by Toyota says the decision was not based on any single factor:
The market and economic factors contributing to the decision include the unfavourable Australian dollar that makes exports unviable, high costs of manufacturing and low economies of scale for our vehicle production and local supplier base.
Together with one of the most open and fragmented automotive markets in the world and increased competitiveness due to current and future Free Trade Agreements, it is not viable to continue building cars in Australia.
Toyota Australia President and CEO, Max Yasuda, has paid tribute to the Australian workforce.
“This is devastating news for all of our employees who have dedicated their lives to the company during the past 50 years,”
“While we have been undertaking the enormous task of transforming our business during the past two years, our people have joined us on the same journey, which makes it even more difficult to announce this decision.”
“We did everything that we could to transform our business, but the reality is that there are too many factors beyond our control that make it unviable to build cars in Australia.”