Toyota tops profit pile

Toyota Australia has posted an after tax profit of $236 million for its 2015-16 financial year, ending March 31.

Although accounting details differ, the result compares to a $128m profit recently announced by Holden and Ford Australia’s 2015 full year losses of $162m.

Toyota’s profit is a 22 per cent improvement on it 2014-15 result of $194m and puts it clearly ahead of Australia’s two other large-scale local manufacturers.

According to Toyota, a major factor contributing to these results was “strong vehicle sales across all major segments, with 209,252 Toyota and Lexus vehicles sold locally and 64,605 vehicles exported during the 2015/16 financial year”.

"It has been extremely pleasing to see our employees continue their dedication and commitment to achieve our company goals. Their ongoing engagement has helped us to achieve these positive results," said Toyota Australia President, Dave Buttner.

"Our manufacturing team members are working tirelessly to ensure that our last Camry will be our best one yet. The quality of these vehicles has been at an all-time high and this has assisted us in maintaining strong domestic and export sales for the Camry, Camry Hybrid and Aurion,” he stated.

Toyota’s result included “restructuring costs” of $81m. Like Holden, the company will cease local manufacturing before the end of 2017. Ford Australia is due to shutter its local lines in October this year.