Holden Axed: What you need to know
I know its sad, but its not a surprise.
Australia has lost a war hero. A soldier - a legend. Cars like the Monaro GTS, the Commodore and the Torana, will remain in the hearts of true fans forever, as the company is retired by GM.
In this day and age, too much of our information is either overexaggerated or lies. These are tactics by major news corporations to make you panic and read on. Here, you won't see that. Captain Cars is about the facts, fun and all the car news. Not the fake stuff.
Now, onto the article. Here is what you need to know about Holdens retirement.
What is going on?
Holden will have its doors close before 2021, presumably at the end of 2020, which will amount to the loss of 600 jobs, stretching from Australia to New Zealand.
Why is it happening?
A statement from whichcar.com.au says:
"There are enough reasons to fill a book, but the official line is General Motors believes right-hand drive markets like ours no longer justify continued investment. Or, the cost to help Holden claw its way up Australia’s sales charts is just too great. GM global chair and CEO Marry Barra said GM will instead focus on markets “where we have the right strategies to drive robust returns, and prioritising global investments that will drive growth in the future of mobility”. This includes South America, Korea and the Middle East."
Essentially, Holdens are being dropped because they are not a valuable market anymore.
What does this mean for the dealerships?
For most dealerships, Holden's end came as a shock, and for one dealer, it came too late. The Adelaide City Holden was 3 months away from completing a $5.6 Million showroom project when Holden was cut. They are expecting some compensation from GM for the lack of information. Holdens will now be price slashed in order to get rid of all the remaining stock.
This is not the end of the Australian car market. Cadillac have been seriously looking into starting the production of right hand drive CTS/V's, and the right hand drive Corvette will still be produced here as planned.
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Thompson, Chris. “Questions on Holden's Closure Answered.” WhichCar, www.whichcar.com.au/news/holden-closure-what-happens-now-questions.