Toyota Australia Profits $149 Million

After we’ve heard that Toyota will keep producing vehicles in Australia, the local subsidiary company posted recently its first profit in four years.
Toyota Badge 1 photo
Photo: Toyota
Toyota Australia gained AU$149.1 million after paying all the taxes, but the sum barely covers the last three-year period of losses, which sums up to over AU$150 million.

"Factors such as the high Australian dollar and intense market competition have had a negative impact on local manufacturing, however we are doing everything we can to strengthen our business," Toyota Australia spokeswoman Beck Angel told News Limited. "It is our intention to continue manufacturing in Australia. We are now 15 months into a five year transformation to strengthen our business and are making progress, as demonstrated by our financial results."

In the last 12 years, Toyota reported an average annual profit of AU$ 68 million, compared to Holden’s AU$ 28 million and Ford’s AU$ 25 million, giving it hope to stay an fight on the local market.

Read the full story at Herald Sun
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