Toyota Australia profit up again ahead of factory closure

Image: Toyota

Imported Toyota HiLux sales have led the way for Toyota Australia, which managed an increase of 22 per cent in net profit after tax for the year ending March 31.

Fairfax reports that the profit result was assisted by over 40,000 HiLux utility vehicles – made in Thailand – sold.

Net profit after tax was $236 million for the period, the second straight profit result, and included $81 million in restructuring costs. These are associated with the company’s decision to end manufacturing in the last quarter of next year.

Toyota Australia President Dave Buttner praised the workers’ contribution.

“It has been extremely pleasing to see our employees continue their dedication and commitment to achieve our company goals,” he said in a statement.

“Their ongoing engagement has helped us to achieve these positive results.”

The Motor Report notes that 209, 252 vehicles were sold in total by the company, with a significant number – 64,605 Camrys, Camry Hybrids and Aurion cars – exported.