Holden had been reduced to a shadow of its former self, importing cars from Europe, North America and Asia and adapting global models for regional requirements
On Sunday, GM confirmed it planned to "wind down" sales, engineering and design operations in Australia and the sales anddistribution operation in New Zealandwhich, combined, employ 830 people,and "retire"the long serving Holden brand by 2021.
The company also said it had agreed to sell its Rayong plant in Thailand, which employs 1,500 people, to China's Great Wall Motors and withdraw the Chevrolet brand from that market by the end of 2020.
This is a continuation of the US automaker's policy over the last 10 years to exit markets that do not generate what it regards as adequate returns on investment.
The company sold its European Opel and Vauxhall subsidiaries to France's PSA group in 2017 and has also exited virtually all markets in Africa over the last several years.
In Asia, GM closed its plant in Indonesia in 2014 and agreed in January 2020 to sell its second plant in India, also to Great Wall Motors, having sold the other Indian plant to SAIC Motor in 2017.
The company said it planned to focus on "growth opportunities in specialty vehicle business"", no doubt referring to the huge industry wide shift that is expected to take place in the current decade towards electric vehicles (EVs) as well as growth relating to autonomous driving technologies (AV).
GM chairman and CEO Mary Barra confirmed the company is "restructuring its international operations, focusing on markets where we have the right strategies to drive robust returns, and prioritising global investments that will drive growth in the future of mobility, especially in the areas of EVs and AVs".
She added "while these (restructuring) actions support our global strategy, we understand that they impact people who have contributed so much to our company. We will support our people, our customers and our partners, to ensure an orderly and respectful transition in the impacted markets".
GM president Mark Reuss said the company had "explored a range of options to continue the Holden operationsbut none could overcome the challenges of the investments needed for the highly fragmented [global]right hand drive market, the economics to support growing the brand, and delivering an appropriate return on investment".
The company said it also carried out a "detailed analysis of the business case for future production at the Rayong manufacturing facility in Thailand. Low plant utilisation and forecast volumeshave made continued GM production at the site unsustainable. And without domestic manufacturing, Chevrolet would be unable to compete in Thailand's new vehicle market".
The company said it expected to take a US$1.1bn cash and non-cash charge this year relating to its restructuring in the three countries.
GM senior vice president and president GM International, Steve Kiefer, said GM International "is well positioned in its core markets: South America, the Middle East and South Korea. The company continues to optimise partnerships in markets like Uzbekistan, by transferring assets and building strong supply chains to reduce costs in growth markets".
Holden started full local car manufacture in Australia in 1948 and once had final assembly plants in almost every state. By the 1980s, as various government import duty and taxation measures to 'protect' local automakers from imported competition began to be reduced, it was consolidated into one large new factory at Elizabeth, a suburb of Adelaide, in South Australia, where local manufacturing ended in 2017. Many dealers subsequently lost, or quit the franchise and the company announced late in 2019 it was dumping the Commodore nameplate, dating back to 1979, and the Astra, both Opel-developed cars sourced from PSA in Europe.
Local assembly in New Zealand ended in 1990 after increasingly frictionless free trade with Australia and lowering import duty rates made the Trentham plant, built in 1967, uneconomic. GM also ended local parts production.
Australia's ABC News quoted prime minister Scott Morrison as saying he was "disappointed but not surprised" at the GM announcement.
"But I am angry, like I think many Australians would be. Australian taxpayers put millions into this multinational company. They let the brand just wither away on their watch. Now they are leaving it behind," he said.
Federal industry minister Karen Andrews said it was unacceptable for GM to have made the decision without any consultation with the government.
Holden had been whittled down to about 800 local workers with 600 focusing on design and development work for local and regional markets.
GM officials told ABC about 600 would leave by Junewhile 200 would remain in ongoing roles connected with the company's pledge to offer at least 10 more years of customer service to owners of the 1.6m Holdens in use.
Work at the Port Melbourne site would be wound down by the end of June and the [former proving ground] Lang Lang calibration facility would finish up in August.
View original post here:
GM sounds the retreat over Oceania and Thailand - just-auto.com
- Oceania Cruises - Cruise Vacations & Cruise Deals | Mid-Sized ... - December 8th, 2016 [December 8th, 2016]
- Oceania Travel Guide - Wikitravel - December 9th, 2016 [December 9th, 2016]
- Home - Oceania - December 12th, 2016 [December 12th, 2016]
- Australia/Oceania - WorldAtlas.com - December 12th, 2016 [December 12th, 2016]
- List of sovereign states and dependent territories in Oceania ... - December 12th, 2016 [December 12th, 2016]
- List of the 14 Countries of Oceania by Area - December 22nd, 2016 [December 22nd, 2016]
- Oceania resort - Prestige Vacations Aruba - December 31st, 2016 [December 31st, 2016]
- Nations of Nineteen Eighty-Four - Wikipedia - December 31st, 2016 [December 31st, 2016]
- FIBA Oceania Championship - Wikipedia - January 5th, 2017 [January 5th, 2017]
- FIBA Oceania - FIBA.com - January 5th, 2017 [January 5th, 2017]
- Hamish Bond eyes Oceania Road Cycling Championships - Newshub - February 7th, 2017 [February 7th, 2017]
- Harry Sommer in Sydney for Oceania Australasia appointment - Seatrade Cruise News - February 7th, 2017 [February 7th, 2017]
- Oceania to Offer 14 Alaska Cruise Departures in 2017 - Travel Agent - February 7th, 2017 [February 7th, 2017]
- Asia Oceania Geosciences Society names Zank its sixth honorary member - UAH News (press release) - February 7th, 2017 [February 7th, 2017]
- Work-life concerns drive Oceania leaders' departures - Nikkei Asian Review - February 8th, 2017 [February 8th, 2017]
- Oceania Cruises serves up great American adventures in The Great Land - Travel Daily Media (press release) (registration) (blog) - February 9th, 2017 [February 9th, 2017]
- Guam could host Oceania, Para tournaments - Pacific Daily News - February 9th, 2017 [February 9th, 2017]
- Ben Hill wins second Canberra Cycling Club Championship, now wants Oceania crown - The Sydney Morning Herald - February 9th, 2017 [February 9th, 2017]
- Asia and Oceania members get most out of FIBA National Federations Marketing and Communications Workshop in ... - FIBA - February 10th, 2017 [February 10th, 2017]
- Fiji Juniors Take On Oceania's Best - Fiji Sun Online - February 13th, 2017 [February 13th, 2017]
- Oceania Cruises Reveals Late 2017 Voyages To Cuba - PR Newswire (press release) - February 15th, 2017 [February 15th, 2017]
- Davis Cup 2017: Bengaluru to host India-Uzbekistan Asia-Oceania Group I Rd 2 tie - Hindustan Times - February 16th, 2017 [February 16th, 2017]
- U17 Qualifiers Progressing for Oceania Cup EMTV Online - EMTV Online - February 16th, 2017 [February 16th, 2017]
- Oceania cruises adds more Cuba trips from Miami with multiple stops on the island - Miami Herald - February 16th, 2017 [February 16th, 2017]
- Oceania Adds More Cuba Cruises for Late 2017 | Travel Agent Central - Travel Agent - February 17th, 2017 [February 17th, 2017]
- Oceania's Riviera -- smooth sailing with glorious food - ConsumerAffairs - February 18th, 2017 [February 18th, 2017]
- Oceania Cruises Reveals New 2017 Voyages To Cuba - Caribbean360.com (subscription) - February 18th, 2017 [February 18th, 2017]
- Ba, Rewa in Oceania battle - Fiji Times Online - Fiji Times - February 20th, 2017 [February 20th, 2017]
- Asia Oceania Floorball holds annual meeting in Wellington - Insidethegames.biz - February 20th, 2017 [February 20th, 2017]
- New Zealand U-17 footballers complete perfect record in pool play at Oceania champs - Stuff.co.nz - February 20th, 2017 [February 20th, 2017]
- Team Wellington look to crowdfund $25000 Oceania Champions League shortfall - Stuff.co.nz - February 20th, 2017 [February 20th, 2017]
- Oceania Cruises offers six new itineraries to Cuba - Cruise and Ferry - February 20th, 2017 [February 20th, 2017]
- Another open Oceania Rocket League comp kicks off soon - Gameplanet - February 21st, 2017 [February 21st, 2017]
- Door open for Oceania athletes to compete at 2022 Asian Games - Insidethegames.biz - February 21st, 2017 [February 21st, 2017]
- Shange excel at the Oceania Race Walk Championship - Pretoria East Rekord - February 22nd, 2017 [February 22nd, 2017]
- Macquarie books fundies for Oceania Healthcare non deal roadshow - The Australian Financial Review - February 23rd, 2017 [February 23rd, 2017]
- Paeroa wrestler to represent New Zealand at Oceania Wrestling ... - Waikato Times - February 23rd, 2017 [February 23rd, 2017]
- Oceania Cruises' OLife makes for an all-around delectable experience at sea - Travelweek - February 24th, 2017 [February 24th, 2017]
- Whirlpool promotes internal executive to managing director for Oceania - Appliance Retailer - February 24th, 2017 [February 24th, 2017]
- Live From Oceania Marina: Hits and Misses - Cruise Critic - February 24th, 2017 [February 24th, 2017]
- Carol tows Pacific Oceania to finals - Saipan Tribune - February 24th, 2017 [February 24th, 2017]
- Sport: Pacific Oceania into tennis final - Radio New Zealand - February 24th, 2017 [February 24th, 2017]
- McCartney tops 4.82m Oceania record in Auckland, Crouser throws 22.15m - International Association of Athletics Federations - February 27th, 2017 [February 27th, 2017]
- Lee powers Pacific Oceania to title win - Saipan News, Headlines ... - Saipan Tribune - February 27th, 2017 [February 27th, 2017]
- Beach Volleyball Trial matches for Oceania Championship starts - EMTV Online - February 28th, 2017 [February 28th, 2017]
- Oceania Cruises reprises 'Around the World in 180 Days' - Seatrade Cruise News - February 28th, 2017 [February 28th, 2017]
- New Zealand cyclist Sam Miller looking forward to aggressive racing ... - Stuff.co.nz - March 1st, 2017 [March 1st, 2017]
- Refining Industry Outlook in Asia and Oceania to 2021 - Capacity and Capital Expenditure Forecasts with Details of ... - Business Wire (press release) - March 1st, 2017 [March 1st, 2017]
- Oceania Cruises Announces New 180-Day Cruise for 2019 ... - TravelPulse - March 1st, 2017 [March 1st, 2017]
- Oceania cruises around the world in 180 days | Cruise News UK - Travel Daily Media (press release) (registration) (blog) - March 2nd, 2017 [March 2nd, 2017]
- Oceania to Sail New World Cruise in 2019 - Travel Agent - March 2nd, 2017 [March 2nd, 2017]
- Are we living in an Orwellian Oceania? - Palatinate - March 2nd, 2017 [March 2nd, 2017]
- Otago student wins Oceania scholarship - Otago Daily Times - March 2nd, 2017 [March 2nd, 2017]
- Oceania Cruises announces around the world in 180 days voyage for 2019 - Travel Daily News International - March 3rd, 2017 [March 3rd, 2017]
- Riders warm up for Oceania BMX battle - Western Advocate - March 3rd, 2017 [March 3rd, 2017]
- Oceania CACS conference targets technology-driven change - Technology Decisions - March 6th, 2017 [March 6th, 2017]
- Oceania Cruises Culinary Programs for Foodies and Aspiring Chefs - Pursuitist - March 8th, 2017 [March 8th, 2017]
- Oceania cycling championships top seed Lucy Kennedy eyeing the top of the podium - The Canberra Times - March 8th, 2017 [March 8th, 2017]
- Leanna Curtis claims Oceania BMX crown - Western Advocate - March 8th, 2017 [March 8th, 2017]
- Oceania Road Cycling Championships set to begin in Canberra - Insidethegames.biz - March 9th, 2017 [March 9th, 2017]
- Sean Lake aiming for Oceania time trial and road race defence - Cyclingnews.com - March 9th, 2017 [March 9th, 2017]
- Australia dominate day one of Oceania Road Cycling Championships - Insidethegames.biz - March 9th, 2017 [March 9th, 2017]
- Mountain bike champ Jenny Blair hitting the road for Oceania Championships - The Sydney Morning Herald - March 9th, 2017 [March 9th, 2017]
- Australasia's best to battle for Oceania gold - The South Burnett Times - March 10th, 2017 [March 10th, 2017]
- Asia-Oceania Meeting of Religious inspires eco-citizens - Global Sisters Report (blog) - March 10th, 2017 [March 10th, 2017]
- Rowing champ Hamish Bond continues to excel on bike with ... - Stuff.co.nz - March 10th, 2017 [March 10th, 2017]
- Asia-Oceania Meeting of Religious inspires eco-citizens - National Catholic Reporter (blog) - March 11th, 2017 [March 11th, 2017]
- Hayley Wolfenden rides to an Oceania BMX podium - Western Advocate - March 12th, 2017 [March 12th, 2017]
- Aged care play Oceania Healthcare's pitch to fundies - The Australian Financial Review - March 12th, 2017 [March 12th, 2017]
- Davis Cup: Mahesh Bhupathi drops Leander Paes from Asia/Oceania Davis Cup tie against Uzbekistan - Bangalore Mirror - April 8th, 2017 [April 8th, 2017]
- Young South Canterbury speed skaters hunting medals in Australia at Oceania Championships - The Nelson Mail - April 8th, 2017 [April 8th, 2017]
- Rocket League Oceania: Open Qualifiers Recap - The Roar - April 8th, 2017 [April 8th, 2017]
- Vector Wins Asia-Oceania Financial Performance Award | Scoop ... - Scoop.co.nz (press release) - April 8th, 2017 [April 8th, 2017]
- ITTF Signs Strategic Investment Agreement with ITTF-Oceania - Around the Rings (subscription) - April 8th, 2017 [April 8th, 2017]
- Big moves in NZ aged care ahead of Oceania IPO - The Australian Financial Review - April 8th, 2017 [April 8th, 2017]
- Team Oceania On Way to New York | Fiji Sun - Fiji Sun Online - June 6th, 2017 [June 6th, 2017]
- Riot Games Oceania inks deal with Twitter - Dot Esports - June 6th, 2017 [June 6th, 2017]
- Oceania Rugby assists unions "to do things better" - Matangi Tonga - June 6th, 2017 [June 6th, 2017]
- Oceania Cruises Offering Flight Upgrade Offer for European Sailings - Cruise Fever - June 7th, 2017 [June 7th, 2017]
- Manawatu's Chris Sanson off to Oceania marathon championships - Manawatu Standard - June 7th, 2017 [June 7th, 2017]