Business Daily Media

Business Marketing

.

HOLDEN VEHICLE SALES, DESIGN AND ENGINEERING TO CEASE IN AUSTRALIA AND NEW ZEALAND

  • Written by Media Release


The Holden brand will be retired from sales in Australia and New Zealand and local design and engineering operations will wind down by 2021, General Motors(NYSE: GM) announced today.

Maven and Holden Financial Services operations will also wind down in Australia.GM International Operations Senior Vice President Julian Blissett said GM had taken the difficult decision after implementing and considering numerous options to maintain and turn around Holden operations.

“Through its proud 160-year history, Holden has not only made cars, it has been a powerful driver of the industrialization and advancement of Australia and New Zealand,”said Blissett.“Over recent years, as the industry underwent significant change globally and locally, we implemented a number of alternative strategies to try to sustain and improve the business,together with the local team.”

GM undertook a detailed analysis of the investment required for Holden to be competitive beyond the current generation of products. Factors impacting the business case for further investment included the highly fragmented right-hand-drive markets, the economics to support growing the brand, and delivering an appropriate return on investment.“

After comprehensive assessment, we regret that we could not prioritize the investment required for Holden to be successful for the long term in Australia and New Zealand, overall other considerations we have globally,” said Blissett.“This decision is based on global priorities and does not reflect the hard work, talent and professionalism of the Holden team.”GM intends to focus its growth strategy in Australia and New Zealand on the specialty vehicles business and plans to immediately work with its partner on developing these plans.GM Holden Interim Chairman and Managing Director Kristian Aquilina said that given the significance of Holden through its history, it was critical the company worked 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 fueling that development,”said Aquilina.“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.“

Unfortunately, all the hard work and talent of the Holden family, the support of our parent company GM and the passion of our loyal supporters have not been enough to overcome our challenges.“We understand the impact of this decision on our people, our customers, our dealers and our partners – and will work closely with all stakeholders to deliver a dignified and respectful transition.”

Holden customers can be assured that the company will honour all warranties and servicing offers made at time of sale. Holden will provide servicing and spare parts for at least 10 years, through national after sales networks in Australia and New Zealand. As required, Holden and its after sales network will also continue to handle any recalls or safety-related issues if they arise, working with the appropriate governmental agencies.

Impacted Holden employees will 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.Holden Customer Care is available to answer customer inquiries and all warranties and service agreements.

Holden customers in Australia can call 1800 46 465 336 or visit www.holden.com.au; Holden customers in New Zealand can call 0800 465 336 or visit www.holden.co.nz.

Tips for Keeping Your Business OSHA Compliant

As a business owner, you are legally and morally responsible for your employee's safety and wellness. OSHA sets standards and regulations that bus...

Business Training

Maximizing Your Investments: Benefits of 1031 Exchange Properties

Imagine being able to swap your investment property for another real estate while deferring the capital gains taxes. Of course, the 1031 tax-defer...

Property

WHITE LABEL NOBA’s Winter 2016 season: Earth + Country

Taking cues from the warm winter colours of tobacco and caramel, and combining them with the strength of navy and the embracing lightness of whites ...

Business Training

Quinta do Lago Real Estate Development Set to Boost Algarve Property Market

Quinta do Lago, a luxury resort town located in the Algarve region of southern Portugal, is set to welcome three new real estate developments in 2...

Property

What Is A Level 2 Electrician And When To Engage One

Do you know when to hire a level 2 electrician? Knowing the qualifications of an electrician, and when one is needed, can be daunting for those wi...

Property

Pearl Beach Home purchased for £78 sells for $2.5million

Never before have Central Coast properties been so in demand. We have seen prices soar with many bidders far exceeding asking prices just to secur...

Property