Japanese media says falling sales and a climbing yen will lead to the company's first interim operating loss since 1999 forcing the company to lower its earnings forecasts (October to March period likely to cut Toyota's full-year profit by 80 per cent).
Unlike many other car manufacturers that have reduced job numbers, Toyota with strong Middle East exports, the production of the Hybrid Camry and a well-managed Australian operation should avoid any downturn locally.
National secretary of the Australian Manufacturing Workers Union's vehicle division Ian Jones has welcomed the news saying,
"I think Toyota have got a good plan for Australia," he said. "They are a very well-managed Australian operation. I don't think they will experience the same problems as the other (carmakers)."