Toyota reviews its viability

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From the AFR:

Toyota Australia is reviewing its Australian manufacturing to see if it can continue as a standalone operator in the wake of Holden’s decision to exit local manufacture in 2016.

The sober assessment of the knock-on effects of the widely expected decision came as Toyota accused its main union of putting its own local car making operations at risk by urging workers to reject a cost cutting plan.

The Japanese-owned company, which is locked in a battle with the union over a $3800 per vehicle cost cutting target, said Holden’s exit would “place unprecedented pressure on the local supplier network and our ability to build cars in Australia”.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.