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Toyota to end car manufacturing in Australia

– Toyota says it will stop making cars in Australia by the end of 2017, spelling a final blow to auto manufacturing in the country.

Car companies say high production costs and tough competition have made the business financially unviable in Australia.

Toyota’s announcement Monday means the loss of around 2,500 jobs. It comes just two months after General Motors Co. announced that it would be ending production in Australia by 2017.

Ford Motor Co. announced in May that it was ending production in the country in 2016.

Toyota said its decision was based on a combination of factors including the high Australian dollar, the high cost of manufacturing and competition.

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