GM boss reveals ‘agonising decision’ over Holden

Despite “tireless work” by many people to save the Holden brand, GM says it is unwilling to pour in the cash necessary to make the company a success in the long term. 

Julian Blissett, GM's international operations senior vice-president, told a press conference in Melbourne the ‘agonising decision’ was made after considering numerous options to turn the car brand's operations around.

He added that the move will impact all Holden functions across New Zealand and Australia “with the exception of after sales”.

“This was an agonising decision for us and one that we did not make lightly or easily,” Blissett, pictured, told the conference.

“From next week we will work closely with out dealer partners on an orderly transition including the appropriate time end for ceasing of sales in Australia and New Zealand.

“GM assessed the investment required … for Holden to rebound and be competitive and sustainable in the long term. Regrettably, despite the tireless work of many people, the business case could not meet GM’s investment threshold.

“GM desperately wanted a successful and sustainable Holden in both Australia and New Zealand. We implemented a number of alternative strategies but ultimately GM has taken the decisions that it is unable to prioritise the significant investment required for Holden to be competitive and profitable long term.”

Watch the full video of Blissett’s press conference below.