Toyota To End Australian Manufacturing By 2017: Report Photo:

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Mike Stevens | Feb, 10 2014 | 14 Comments

UPDATE 5:18pm: Toyota Announces End Of Australian Manufacturing By 2017: OFFICIAL. READ HERE.

Update 5:07pm AEDT: ABC News has obtained copy of letter. Mr Yasuda says "we believe we should continue to produce cars in Australia, and Toyota and its workers have made every effort."

"Competitive market and tough Australian dollar, along with high cost of production in Australia, have worked together to force this decision".

The letter goes on to confirm the company has sought guidance from headquarters and Government to continue vehicle and engine production until 2017.

The company will also reduce the scale of its Australian technical centre, cutting back on design and development departments.

Australian Prime Minister Tony Abbott late last year ruled out giving Toyota any further taxpayer funds.

Update 5:05pm AEDT: ABC News reports it has confirmed Toyota's exit from Australian manufacturing, with a letter to employees from Toyota Australia boss Max Yasuda expressing regret at the decision.

EARLIER | 4:50pm:

Toyota Australia is understood to be speaking with workers this afternoon to confirm that it will exit the local manufacturing industry.

An announcement is expected to come shortly, according to ABC News.

More than 2000 Toyota jobs are at risk, but many thousands more will be affected across parts and retail parts of the automotive industry.

If true, the news will effectively bring a close to the Australian automotive manufacturing industry as we know it, with Ford and Holden set to close their local plants by 2016 and 2017 respectively.

More to come as news develops. Stay tuned to TMR on Twitter and Facebook for updates, or refresh this page periodically.

UPDATE 5:18pm: Toyota Announces End Of Australian Manufacturing By 2017: OFFICIAL. READ HERE.

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