AUSTRALIA: Toyota losing but wants more taxpayer dollars
Toyota Australia has lost A$700m in three years but is negotiating for even more taxpayer dollars to build a new model locally, a newspaper reported.
A senior company insider has revealed to Adelaide's The Advertiser the size of the loss, which equates to about $3500 for every car Toyota exported to the Middle East over the past three years.
In the same period, the federal and Victorian state governments contributed almost $100m to Toyota's manufacturing operations - $35m towards local production of the Camry Hybrid and a further $63m towards a $330m upgrade of Toyota's engine factory at Altona, the paper said.
The Advertiser said Toyota Australia senior executive director Dave Butter had confirmed the automaker was looking to build a third vehicle alongside the Camry four-cylinder and Aurion V6 sedans and that discussions had begun with state and federal governments for taxpayer support.
"We have the capability and capacity to build another model," Buttner said.
"We want to shore up our volume to make sure we can stay (manufacturing in Australia). We've apprised the government of the plans we have in place to make our manufacturing plant continue."
Despite the strong dollar affecting profitability, with no currency relief in sight, Toyota has said it is trying to improve economies of scale by increasing the output at Altona from its low of 94,000 cars a year.
Toyota Tsusho Corporation - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and servic...
The battle over air conditioning refrigerant between Mercedes-Benz and France (more or less repping the EU) continued this week with neither side showing signs of backing down....
Toyota Tsusho Corporation - SWOT, Strategy and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis,...
Datamonitor's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organ...
The media days for the 2013 Frankfurt Internationale Automobil-Ausstellung (IAA) are 10 & 11 September. Each of the following vehicles is a world premiere at the show....
- THE WEEK THAT WAS: The bubble car returns
- PRODUCT EYE: Audi RS Q3
- Management briefing: UK engine manufacturing (1)
- COMMENT: PSA's Tavares plots turnaround
- COMMENT: Nissan looks for top UEFA bang for buck
- The bubble car is back, fit for the 21st century
- PSA issues new business plan
- NYIAS DEBUTS: Infiniti Q70 long wheelbase
- BEIJING DEBUTS: JAC EC-9 concept
- GM furloughs two engineers in recall probe
- Jaguar Land Rover: Providing remarkable growth throughout the economic downturn
- PLDB - vehicle cycle plan database (annual subscription)
- Plunkett's Automobile Industry Almanac 2014: Automobile Industry Market Research, Statistics, Trends & Leading Companies
- Ford Motor Company - Strategy and SWOT Report
- Global light vehicle materials market 2008 to 2028