Approximately 3,200 workers at the Toyota Motor Co. (TM) plant in Melbourne, Australia went on a day's strike on Friday regarding pay. Moreover, workers at the Toyota warehouse in Sydney also followed suit in support of their counterparts in the Melbourne plant. The workers intend to further strike work on Thursdays and Fridays over the next three weeks.
Toyota Australia was forced to shut down production at the Altona manufacturing plant and Toyota Parts Centers in Melbourne and Sydney, respectively, on Friday due to the workers’ strike. The Altona plant, which produces models such as the 4-cylinder Camry, Hybrid Camry, and 6-cylinder Aurion, manufactures 559 cars per day and primarily caters to domestic and export customers.
Toyota became Australia's best-selling automotive brand in August, selling 15,885 vehicles, resulting in an 18% market share. Holden came a distant second with 11,534 vehicles and a 13.1% market share and Mazda Motor Corp. was third with 9138 vehicles and a 10.4% market share.
With such statistics, Toyota Australia is poised to improve its market share further in the country as well as globally. It has also planned to raise it production in order to meet the increasing demand. Thus the strike on Friday and further plans for the workers on the same are bound to affect its future production.
Japan-based Toyota Motor Corporation, which has a Zacks#3 Rank, is the leading automaker in the world in terms of sales and production. Its product portfolio consists of a full range of models from passenger cars, minivans and trucks as well as related parts and accessories. The company’s operations are classified into three segments: Automotives, Financial Services and All Other.
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