After 160 years, Holden era is over after parent company General Motors announced it will dump the iconic Australian car brand from the end of this year.
After closing the company’s local manufacturing operations in 2017, GM has taken the “difficult” decision to retire the brand from sales in both Australia and New Zealand.
“After comprehensive assessment, we regret that we could not prioritise the investment required for Holden to be successful for the long term in Australia and New Zealand, over all other considerations we have globally,” GM International Operations senior vice-president Julian Blissett said on Monday.
The decision was based on global priorities and did not reflect the hard work, talent and professionalism of the Holden team, he said.
GM Holden interim chairman Kristian Aquilina said said the US-based company would work with all stakeholders to “deliver a dignified and respectful wind-down”.
“Holden will always have a special place in the development of our countries. As Australia and New Zealand grew, Holden was a part of the engine room fuelling that development,” Mr Aquilina said.
“Today’s announcement will be felt deeply by the many people who love Holdens, drive Holdens and feel connected to our company which has been with us for 160 years and is almost ubiquitous in our lives,” he added.
GM said impacted Holden employees would be provided separation packages and employment transition support.
Holden will work with its dealer network on appropriate transition arrangements, including offering dealers the opportunity to continue as authorized service outlets to support Holden customers.
GM said it would honour all warranties and servicing offers made at time of sale, and provide Holden servicing and spare parts for at least 10 years.
-with AAP
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