Toyota Australia’s decision to end its manufacturing operation in the country has resulted in a AUD$437m loss after tax — its biggest annual financial loss to date.
Toyota’s loss of AUD$437m, from a turnover of AUD$8.4bn, was the company’s fourth year-end loss in the past five years, bringing its total losses to AUD$578m. Toyota President Dave Buttner said: “There were too many external factors beyond our control that made it unsustainable to continue building cars and engines in Australia in the mid…
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