One of the largest car makers in Australia and New Zealand has withdrawn its production and terminated its brand by the beginning of next year.
Today, the American General Motors Group announced its intention to stop the production of the Holden brand for 160 years in Australia and New Zealand, by next year.
Australia's auto industry ends with Holden shutting down its latest plants
American GM had stopped Holden production in South Australia in 2017 after 69 years of production in this region, but the brand continued to be sold in Australia and New Zealand by importing it from abroad.
The company said in a statement that the sale of the Holden brand will be discontinued in Australia and New Zealand, and that design and engineering operations will stop next year.
"The company made the difficult decision" according to global priorities ... After a comprehensive evaluation, we regret that priority cannot be given to the investment required for Holden's long-term success in Australia and New Zealand, "Julian Plist, GM's vice president of international operations, said in a statement.
While it is not yet clear how many jobs will be written off as a result of this decision, General Motors said Holden workers would receive appropriate compensation while helping them move to other jobs.
General Motors also stated that it will commit to providing all warranty, maintenance and spare parts services to Holden vehicles for at least 10 years to come.
Largest automakers are withdrawing their production of Australia and New Zealand
It is reported that Holden Company was founded in 1856 in the region of South Australia to produce horse saddles. And in 1917 she started producing car bodies. It was purchased by General Motors in 1931.
Finally, during the past years, Australia witnessed a clear decline in the car industry, as Japanese Motor Toyota stopped production of its cars in Australia in 2017 after Ford stopped production in 2016.