GM’s Australian subsidiary, Holden, could be sold if financial troubles at the American auto giant continue. According to global auto expert Graeme Maxton, GM may have to take similar action with Holden as it did in disposing of shares in Isuzu, Subaru and Suzuki. “If you look at in terms of pure economics, their investment in Australia must be under question,” he said yesterday. “GM is having to sell off the family silver and close down anything that is not economic to cut costs in order to survive for the next few years,” he said. The failed Pontiac GTO was based on the Holden Monaro.
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03/27, 8:30 AM
posted by:
David
Somehow this just doesn’t suprise me at all. This will undoubtedly not be the last company they sell off or close either. GM is going down fast. Will they recover? Only time will tell for certain.
03/27, 9:01 AM
posted by:
yozzie
Bull. Holden is a profitable and valuable part of GM’s global portfolio, instrumental to the development of the Zeta platform that will underpin GM NA’s rear-wheel-drive car lineup. Short-sighted as GM is, it makes no sense to sell a major regional development centre off to the Chinese (who else would buy it?). Holden’s engine plant produces the V6 motors that power Buicks, Caddys, Saabs, Vauxhall/Opels and Alfas, as well as the upcoming large crossovers for the States; it also produces momeymaking models for the Middle East, Chinese and Southeast Asian markets. GM would do better selling off one of its badge-engineering US nameplates (cough-cough, Buick…)
03/27, 9:12 AM
posted by:
nikivee
That article is more BS and doom and gloom.
03/27, 12:33 PM
posted by:
Anonymous
ONLY: if it does not make a profit. Then they can concentrate on Saturn and SAAB and stay in the Red. …maybe that’s why they called hop-up Saturn; REDLINE. “Mega Losses”.
jim
03/27, 12:43 PM
posted by:
Anonymous
SELL – only if it show a profit. Then they can concentrate on Saturn and SAAB and stay in the Red. …maybe that’s why they called hop-up Saturn; REDLINE.
jim
03/27, 12:47 PM
posted by:
Tim
If it is true, then GM not only is out of tune with it’s customers but with other smart decisions as well.
And why does everyone think the GTO was a failure? The deal was for 18,000 (I think) cars over a 3 year run. It wasn’t meant to be produced for longer than that from the get go.
If anything, marketing is what was lacking. Most the people that I talk to about my GTO don’t know what it is or when the GTO came back.
03/27, 12:49 PM
posted by:
junkie
Great idea.
Let’s sell every part of the business that makes a profit or provides global benefits.
Then we can really concentrate on losing money.
#2 has it right.
notgonnahappen.com
03/27, 12:50 PM
posted by:
Anonymous
(sorry for the double posting) server was real slow to respond and I double-key’d.
jim
03/27, 2:33 PM
posted by:
Anonymous
Holden IMO is the best company GM has… If anything I say they kill one of their domestic companies and start bringing holdens to the U.S.
03/27, 4:23 PM
posted by:
E M
Not going to happen. Holden is now an integral part of their global strategy, developing whole platforms for global use. It is also a stepping stone to Asia/Pacific region. I think GM would do better to dump Saab and eliminate the Buick brand. Make GMC commercial-only and Hummer take up that premium tough-truck slack. Only thing that will save the American companies in the long run is to break the UAW. In the short term, they need to keep improving their products as they are, and then we’ll see…
03/27, 10:10 PM
posted by:
manny
i think you typed it wrong.
the real question should be ‘Should GM sell Holdens here?’
03/28, 12:22 PM
posted by:
Adam
EM: What will save US automakers is nationalized healthcare. This cost is so high for american maufaturers. It will be cheaper healthcare for everyone involved and remove a huge burden from the automakers.
03/28, 2:48 PM
posted by:
junkie
#12 how do you explain why the import brands can’t build North American/US factories fast enough?
Detroit offered, basically, lifetime helthace to too many people. With zero employee contribution.
Nationalized health care isn’t the answer. It just makes me – and you – pay for it.
Millions of businesses are able to offer health care and remain in business.
The answer is to make cars that people aspire to own.
03/30, 12:31 PM
posted by:
Michael Spadaro
No! Don’t sell Holden! Otherwise how are you going to use the Zeta platform?