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Well done Toyota

Well done Toyota!! You have our respect.

Toyota has announced it will return more than $18 million in JobKeeper payments it received throughout 2020.

The decision was made following a strong sales annual result for the Japanese car company, with nearly one-in-four of every new car sold in Australia wearing a Toyota badge throughout December 2020.

Annual results were also strong for the brand, with 22.3 per cent of all new cars sold being a Toyota.

Toyota Australia President and CEO Matthew Callachor “Like most businesses, Toyota faced an extremely uncertain future when the COVID-19 health crisis developed into an economic crisis that even led to dealerships closing for extended periods in Victoria and Tasmania,”

“In the end, we were very fortunate to weather the storm better than most, so our management and board decided that returning JobKeeper payments was the right thing to do as a responsible corporate citizen.”

It was a difficult period for the company in early 2020, with Toyota’s sales down more than 30 per cent year-on-year – a devastating result at the time. But the company fared much better than the rest of the new-car industry, which reported a sales decline of nearly 50 per cent.

The downturn in revenue meant Toyota was eligible for the Federal Government’s JobKeeper scheme, subsidising employees’ salaries during a precarious period for the business.

Dash Editor

Self-confessed confused news junkie, with lifelong additions to coffee, great conversations, perfection in all its forms, cold wine, hot music and puppy dogs.

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