Toyota takes Australia hit

Toyota Australia has made a loss of $470 million since it announced the end of Australian manufacturing.

Toyota Australia has slumped to a A$437 million ($470 million) loss caused by its exit from car-making in Australia.

The Japanese-owned manufacturer's decision to stop building cars and engines by the end of 2017 resulted in restructuring costs of A$889 million in the year to March, including A$384 million in redundancies.

The annual loss compares with a A$144 million profit in 2012/13. Revenue fell by 6 per cent to A$8.9 billion.

Production of Camry, Camry Hybrid and Aurion vehicles was up slightly, with 102,590 vehicles built, and it sold 221,771 Toyota and Lexus vehicles.

President Dave Buttner said it was a year of mixed results for the departing car maker.

"There were too many external factors beyond our control that made it unsustainable to continue building cars and engines in Australia in the mid to long-term future," he said.

Toyota Australia employs 3900 people, and 2500 positions are expected to be cut as it moves out of manufacturing.

Holden also plans to stop making cars in Australia in 2017, while Ford plans to close its Australian plants by October 2016.

-AAP