Toyota Looking For Government Cash To Help Sustain Australian Operations

Australian media is reporting that Toyota is next in line for some government cash, following Holden's deal with the government to keep production of the Commodore and other models in Australia. Toyota currently builds the Camry and Aurion (a V6 powered sedan based on the Camry, pictured above) at a factory near Melbourne, and a deal with the government is said to bring about a third model, likely the RAV4. Toyota's Australian division head didn't hesitate to re-affirm the company's commitment to Australia, stating that they would remain in the country "indefinitely" and were taking a "long-term" view of things, even as rival firms panic about unfavorable exchange rates. Local car production has been a money-loser for Toyota, with Australian outlet Go-Auto reporting a $160 million loss over the last three years. If Toyota's deal is similar to Holden's, Toyota will have to pony up a lot more cash on its own – with GM contributing $1 billion to keep production running until 2022. from The Truth About Cars http://www.thetruthaboutcars.com

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