Toyota Australia Posts $236 Million Profit Despite Costs Of Factory Shut-down

Toyota Australia managed a profit of $236 million after tax for the 2015/16 Japanese financial year, which ended on March 31.

Driven by over 200,000 sales, the carmaker posted the result – up 22 percent on 2014/15 – despite significant costs associated with its decision to exit manufacturing in Australia next year.

The carmaker spent $81 million during the 2015/16 financial year on “restructuring costs” associated with the shift to an import-only company in Australia.

A total of 209,252 vehicles were sold across the Toyota and Lexus brands, while a combined total of 64,605 Camrys, Camry Hybrids and Aurions were exported from Australia.

“It has been extremely pleasing to see our employees continue their dedication and commitment to achieve our company goals,” Toyota Australia President Dave Buttner said. “Their ongoing engagement has helped us to achieve these positive results.”

Mr Buttner said the team in Australia was working to ensure the last Camry will be the “best one yet”, and that the quality of vehicles produced by Toyota Australia has never been higher.

Toyota replaced or refreshed almost 70 percent of its total line-up last year, which included the upgraded Camry, Corolla and HiAce along with the all-new HiLux pickup. The latter currently leads the overall sales tally in Australia for 2016, as of May 31.

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