Toyota Australia Will Weather The Storm

Toyota Australia has responded quickly to the news that its parent company is gearing up for its first loss, in more than 70 years of operation, by stating that the local operation will not be greatly affected.

The first Australian Toyota casualty of the Global Credit Crisis was TRD (Toyota Racing Developments) with Toyota announcing a week ago that it would close down its Australian performance operation in 2009.

However, spokesman for Toyota Australia, Glenn Campbell, has confirmed that there are no plans to reduce the local workforce.

Toyota would rather cut back slightly on production, beginning in February (drop from 533 units per day to 510) and review production levels on a monthly basis.

"We are certainly experiencing a softening in demand for domestic product and we will make some adjustments to our plant workday schedule," Mr Campbell said.

With the assistance of $35 million in Federal Government funding, Toyota is due to release its locally made hybrid Camry in 2010. The Federal Industry Minister, Kim Carr has stated that Toyota's head office announcement would not affect the Government's production orders with the company.

Toyota will today ship its 100,000th vehicle to the Middle East, where orders for the V6 Aurion model remain strong.

[Source: The Age]