Iconic automaker Holden has been axed in Australia, three years after the end of local manufacturing and the lowest in monthly sales since it was established in 1948.
Parent company General Motors has also pulled out of right-hand-drive production globally. Operations will cease at the end of 2020.
The closure of the brand, which was reportedly only made in Detroit in the past 48 hours according to a high-level inside source, will also see the loss of approximately 600 to 800 jobs. All will be awarded redundancies, according to Car Advice.
General Motors had every intention of reviving the brand following the end of local manufacturing, said this same source.
Thailand, Australia and New Zealand were the last remaining countries in which General Motors produced right-hand-drive cars. For such small markets, however, GM had less opportunity to recoup their investment because the cost to design, engineer and develop both left and right-hand drive vehicles is the same.
It is now being said that General Motors is considering a new sub-brand called General Motors Specialty Vehicles (GMSV) to sell a handful of converted US models like the Chevrolet Camaro and the upcoming Chevrolet Corvette, in Australia.
An official media statement from Holden is incoming.