Toyota announced today it will cease auto production in Australia after 2017. It means 4,200 workers will be laid off and follows similar decisions from Ford and Holden to end production.
“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,” the statement said.
Industry Minister Ian McFarlane estimated last month that related parts industry closures due to the Toyota decision could cost 30,000 jobs.
