The three-millionth car, a Toyota Camry Hybrid, marked the production achievement at a ceremony at Toyota’s Altona plant in Melbourne.
Following the production of the first Australian-built Toyota in April 1963, it took Toyota more than 29 years to produce the first million cars, 12 years for the second million, and eight years to reach today's three-million figure.
Toyota Australia's executive director of sales and marketing, Matthew Callachor, highlighted the Toyota Motor Corporation’s long-standing bond with Australia.
"It was here in Australia that Toyota first tasted international success - the first country outside Japan to produce Toyota cars and to build a Toyota engine manufacturing plant," Mr Callachor said.
Currently the Toyota Camry, Camry Hybrid and Aurion are all produced locally, for both domestic and overseas markets.
So far in 2012 Toyota has celebrated 25 years of Australian production of the Camry with 1.8 million vehicles built since 1987, becoming the first local car maker to export one million vehicles, and selling one million hybrid vehicles worldwide in 2012.
At the start of the month, Toyota Australia reaffirmed its commitment to the local automotive industry, unveiling a new petrol and hybrid engine plant in Melbourne.