General Motors has blamed “highly fragmented right-hand-drive markets” for the downfall of Holden which will cost hundreds of jobs.
GM International Operations Senior Vice President Julian Blissett has released a statement explaining the financial woes leading to the demise of Holden. “Through its proud 160-year history, Holden has not only made cars, it has been a powerful driver of the industrialisation and advancement of Australia and New Zealand,” Mr Blissett.
“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,” Mr Blissett. “This decision is based on global priorities and does not reflect the hard work, talent and professionalism of the Holden team.” The shutdown is expected to cost at least 600 jobs as General Motors ceases making vehicles suitable for Australian roads.
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