Toyota To End Australian Manufacturing By 2017: Report

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.

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