Toyota Australia Stopped the Production

SYDNEY - Japanese automotive company , Toyota officially announced to stop production in Australia . This decision was due to continuing high cost of production and the value of currencies in the State Kangaroo .

Previously two other U.S. manufacturers from Ford and GM are or have been first Holden to pull out of Australia . Ford will cease all production in 2016 , while Toyota and GM will stop all production in Australia in 2017 . As reported Worldcarfans , Tuesday ( 02/11/2014 ) .

With the departure of Toyota in Australia then there will be approximately 2,500 people will lose their jobs . While the departure of Ford , it would take approximately 1,200 victims of unemployment , and Holden up to 2,900 workers .

" Of course this is bad news for our employees who have dedicated their lives to the company for more than 50 years , " said Toyota Australia President and CEO , Max Yasuda .

" We have done everything to change our business in the past two years . Yet the fact is there are many factors outside our control , so we do not make survive longer to assemble cars in Australia , " he added .

Toyota is the most popular brand in Australia . With the automotive market sales of 1.14 million cars in Australia last year , one-fifth had been dominated by Toyota . From Toyota's overall sales , there are only as many as 10 percent of domestically produced .