Toyota Motor Corp. Australia Ltd. is closing down its Toyota Racing Development (TRD) brand after only 16 months, blaming the economic environment and the need to reduce spending. Toyota Australia TRD vehicle conversions will cease as of March 31. “Toyota has a responsibility to ensure its core business activities, and the people who rely on them, are protected for the long term,” Toyota Australia Senior Executive Director David Buttner says in a statement. At the time of its launch, ...

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