Toyota (TM) intends to end the production of cars and engines in Australia by the end of 2017, due to high costs, the strong Australian dollar and low economies of scale.
Toyota's move is not a huge surprise after the Japanese company warned about the future of its Australian operations last year following the announcement of similar plans by Ford and GM.
The exit by the car companies represents the end of an era for Australian manufacturing. Toyota's departure will hit 2,500 jobs directly, although the auto industry supports over 40,000 workers and 150 supplier companies. (PR)