Japanese firm Toyota has dealt a fatal blow to Australia’s car manufacturing sector by announcing it will cease production there by the end of 2017.
The decision, which will lead to about 2,500 job losses, comes just two months after Holden parent General Motors said it was ending production by 2017. Ford is set to down tools in 2016.
Toyota Australia chief executive Max Yasuda said: “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.”
Toyota builds the Aurion, Camry and Camry Hybrid in Australia, where it has had a manufacturing presence since 1963.