Toyota Camry on cards without subsidies

Toyota would have gone ahead and built a hybrid version of its Camry sedan in Australia even without the promise of $70 million in government subsidies, a newspaper says.

The Japanese carmaker said the announcement of the taxpayer-funded subsidies by the federal and Victorian governments only brought the plans forward, The Australian newspaper reports.

"It would have happened regardless and we wouldn't bring it to market unless we're going to make money," Toyota Australia spokesman Mike Breen said.

"It's always nice to have support but it comes back to a business decision."

Toyota has been explicit about its wish to produce a hybrid version of the Camry in Australia since the model went on sale in Japan two years ago.

In Nagoya on Tuesday, Prime Minister Kevin Rudd pledged $35 million from the new Green Car Innovation Fund as an incentive to assemble the cars at the Altona factory in Victoria, which Victorian Premier John Brumby matched with a further $35 million.

11 Jun 2008

The government is extremely quick to throw away BIG MONEY at the corporate fish, even though they DO NOT NEED it, as admitted by Toyota in this case, BUT the government closes down public schools, as initiated by the Kennett Government of Victoria, as the education of the public is NOT NECESSARY, and closure of public hospital beds.

Toyota is one of the World's richest motor vehicle manufacturing company, and is Australia's largest car manufacturer.