Toyota to exit car and engine production from 2017! Follows Ford, GM path to exit

 

 Toyota has announced this week that it will stop producing its cars and engines in Australia by the end of 2017. With this thousands of people in (both direct and indirect) jobs will lose their source of livelihoods.

Toyota is not the first company to do so. Before this popular Innova making company, General Motors and Ford Motors also announced that they will exit Australia. The reason – “high costs and a strong currency make it an unattractive production base” says Reuters.


Toyota Australia President Max Yasuda informed "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" in a press statement.

The company further says "our focus will now be to work with our employees, suppliers, government and the unions as we transition to a national sales and distribution company. Support services will be available to our employees and we will do everything that we can to minimise the impact of this decision on our employees and suppliers."

The exit will happen by the year 2017 leaving 2500 people jobless.


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