General Motors
Holden's closure is shocking to many in Australia, where the brand has a loyal following and has become a symbol of pride. The move is not, however, entirely unsurprising given the slow wind-down of Holden's operations over the last few years. In 2017, the manufacturing of Holden vehicles was moved out of Australia. Many once-iconic Holden vehicles were slowly replaced with rebadged vehicles from other brands. The decision to finally shutter the brand came largely as a result of GM's struggle in the right-hand-drive market, a relatively slim market in which Holden struggled to turn a profit. In general, the shuttering of Holden falls in line with GM's downsizing and restructuring in the wake of its 2009 bankruptcy. Shuttering Holden is likely a cost-saving measure as the company gears up to restructure itself to grow its stake in the electric vehicle market.
GM CEO Mary Barra spoke of Holden's closure in an on-air statement, saying, "I've often said that we will do the right thing, even when it's hard, and this is one of those times. We are restructuring our international operations, focusing on markets where we have the right strategies to drive robust returns, and prioritizing global investments that will drive growth in the future of mobility, especially in the areas of electric vehicles and autonomous vehicles."
The scale-down of operations in Australia began before the brand's closure. Holden's manufacturing facilities in Australia were closed in 2017, with manufacturing being moved to offshore factories. All that remained in Australia were Holden's proving grounds, design facilities, and financial offices, all of which will be closed by the end of 2020. Globally, GM plans to cease operations in New Zealand and Thailand as well, which are lackluster Holden and Chevrolet markets, respectively.
The closure of Holden has had a considerable impact on the Australian public. The closure of Holden's manufacturing plant in 2017 drew crowds of loyal Holden owners, who had turned out in the hundreds with their Holden vehicles in a salute to the factory workers. Holden vehicles such as the Commodore had been a staple of Australian automotive culture for decades, though the cessation of local manufacturing had all but ended the iconic car lines long before the company would meet its end.
