Toyota has decided to stop making cars in Australia by the end of 2017, reports Detroit Free Press.
Toyota’s announcement will result in the loss of around 2,500 jobs. Recently, General Motors announced that it would end production in Australia by 2017.
Ford Motor Co. announced in May that it would cease Australian production in 2016. Some 6,600 manufacturing jobs will be axed between the three companies.
Mitsubishi Motors Corp. stopped manufacturing in Australia in 2008.
According to Toyota Motor Corp., its decision was based on a combination of factors including the high Australian dollar, the high cost of manufacturing and competition.
Toyota has been manufacturing cars in Australia since 1963. The company currently makes the Camry, Camry Hybrid and Aurion in the country. It will become a sales company.
Source: Detroit Free Press
