Toyota to stop making cars in Australia by 2017

Feb 10, 2014, 7:28 AM EST
A sign is displayed at Toyota Marin on October 1, 2013 in San Rafael, California.
AFP/Getty Images

Toyota is to end its vehicle and engine production in Australia by the end of 2017, effectively marking the end of the country's carmaking industry. The company said it might scale down the operations of its development and technical centre in Australia as well. Last year, Ford and General Motors' Holden unit also announced plans to stop producing cars in Australia. About 2,500 jobs are set to be lost as a result of Toyota's decision, which it attributed to high manufacturing costs.
Toyota to end Australia production [BBC]
Toyota to stop making cars in Australia from 2017 [Reuters]