AHG 'not affected' by Toyota's demise
Automotive Holdings Group (AHG) says the closure of Toyota's Australian manufacturing operations is not expected to have any material effect on its car retailing business.
The Perth-based listed company - which has seven Toyota dealerships across WA, New South Wales and Victoria - said Toyota's announcement yesterday had been anticipated given previous announcements from Ford and Holden last year.
AHG managing director Bronte Howson said he was confident the Toyota range would remain an important part of the Australian market.
"Toyota, Ford and General Motors remain leading global manufacturers, each with a comprehensive selection of models and we are confident they will continue to be an important part of AHG's broad product range," he said.
"We are confident our Toyota dealerships will continue to play an important role in AHG's operations."
AHG has 152 franchises across Australia and New Zealand, representing 13 of the top 15 manufacturers in Australia.
Toyota announced late yesterday it would end manufacturing cars in Australia in 2017 putting the future of 2500 workers under a cloud.
Shares in AHG were steady at $3.61 at 8.30am.
