Ford Motor confirmed this week that it would cut 300 jobs in Australia this year, dropping production by around one third this June, according to Reuters.

The news now has most analysts worried that the automaker could try exiting the country earlier than its previously announced 2016 deadline.

In 2013, Ford revealed plans to close its two Australian plants no later than October 2016, citing high costs and a strong currency that are hurting manufacturers.

"We are continuing to match production with demand and that will mean we are reducing production by about a third in June with related job losses," said Ford spokesman Wes Sherwood, according to Reuters.

Australia's auto industry was affected by another issue this past December when General Motors said it also stop making cars in Australia by 2017.

This would leave Toyota Motors as the only global automaker manufacturing vehicles in Australia.

"We'll continue to work with the teams to get into the exact details but it will be about 300," said Sherwood.

Ford currently makes 133 Falcon and Territory vehicles every day, but that number will drop to approximately 80 this June.

"I personally would not be surprised if we see a quicker slowdown or reduction than was first envisaged," said Victorian Automotive Chamber of Commerce executive director David Purchase, according to Reuters.

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