The last automaker standing in Australia may also be on its way out.
Toyota, which will be the last carmaker in the country after General Motors stops production in 2017, issued a warning on Thursday that its Australian operations may not continue, The Wall Street Journal reported.
The Aichi, Japan-based company has already cut jobs and had to accept government aid to keep production going while counteracting a strong Australian dollar.
Toyota officials sent a warning Thursday to Australian Prime Minister Tony Abbott.
"We will now work with our suppliers, key stakeholders and the government to determine our next steps and whether we can continue operating as the sole vehicle manufacturer in Australia," Toyota said.
The prime minister said he had spoken to Max Yasuda, head of Toyota's Australian operations, but didn't elaborate further.
"We want Toyota to continue," Abbott said.
His administration has reportedly been criticized for not acting decisively enough to stop GM's factories from closing.
GM's decision to pull out could adversely affect suppliers that work for Toyota, which exports 70 percent of the vehicles it builds in Australia. If losing the American automaker creates a domino effect, suppliers could face losing half their market.
GM confirmed Tuesday that it will stop production in Australia by 2017 due to high costs.
"No matter which way we apply the numbers, our long term business case to make and assemble cars in this country is simply not viable," General Manager Mike Devereux said to reporters this week, according to Reuters.
The automakers seem to be falling like dominos. Back in May, Ford said it would shut its two Australian auto plants by October 2016, crediting similar issues and circumstances.
Australian Manufacturing Workers Union national vehicles division secretary Dave Smith said it was "almost certain" Toyota will leave next.
Industry watchdogs warn that losing the auto industry completely will mean a A$21 billion hole in the economy and the loss of up to 45,000 jobs.
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