For many industry observers Toyota was on life support, kept afloat by government subsidies.
The Victorian Employers' Chamber of Commerce and Industry (VECCI) is the peak body for employers in Victoria, informing and servicing more than 15,000 members, customers and clients around the State.
VECCI Chief Executive Mark Stone’s commented on the announcement:
"The timing of Toyota’s announcement is something of a surprise and we are obviously very disappointed because it has made a significant contribution to Victoria over many years.
"VECCI is already working with the State Government on responding to the cessation of vehicle manufacturing as a member of the Premier's Automotive Industry Roundtable.
"We have also had input into the initial work of the Federal Government’s Economic Review panel for Victoria, established to inform the design of its $100 million Growth Fund to support the changing manufacturing industry.
"We’ll now look at what further work we can do to support the business community as it responds.
"As the Victorian economy continues to undergo change it is more important than ever that governments work with business to capitalise on our enduring strengths and overcome the obstacles."