Australian PM insists nothing he could do on Toyota


Australian Prime Minister says there's nothing to be done about Toyota wanting to shutter car production Down Under - AFP Photo.

SYDNEY: Prime Minister Tony Abbott insisted Tuesday there was nothing he could do to prevent Toyota halting car manufacturing in Australia as fears it will spark an economic crisis gather pace.

The Japanese giant on Monday said it would stop making cars in Australia in 2017, citing high production costs, a strong local dollar and a small domestic market in a decision that kills off the country's 66-year-old auto manufacturing industry.

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