Holden sale: Cars to be reduced by thousands of dollars to clear stock after the collapse of Australia’s iconic brand
Motorists could save thousands of dollars off the list price of a new Holden as dealers desperately attempt to get ride of remaining stock in the wake of the brand’s collapse.
General Motors on Monday announced they were ‘retiring’ the iconic Australian brand by 2021 after plunging domestic sales for Holden vehicles.
GM and Holden have pledged to work closely with all their workers offering generous redundancy packages to about 600 staff across Australia and New Zealand. Most will be gone by June.
‘We are all hurting,’ Holden interim Chairman and Managing Director Kristian Aquilina said in an open letter published in newspapers across the country on Tuesday.
Motorists could save thousands of dollars off the list price of a new Holden as dealers desperately attempt to get ride of remaining stock in the wake of the brand’s collapse (stock image)
The decision to close comes amid plunging domestic sales with demand for Holden vehicles down by almost 29 per cent to just 43,176 in 2019, in a total market down just eight per cent.
GM has committed to providing compensation to Holden dealers to allow them to transition to other brands or close down.
Car dealers will learn within 24 to 48 hours how far they will be able to discount their remaining stock, Car Advice reported.
Dealers who spoke anonymously to the publication believe the discounts, which could amount to $2000 or $10,000 per car, should help clear all remaining showroom models.
‘It won’t take long,’ one car dealer said.
‘I reckon everyone will be sold out of their Holden stock within weeks not months. No-one wants to hang onto them now, we want to get rid of them as quickly as possible or even put them on the used-car lot.’
General Motors on Monday announced they were ‘retiring’ the iconic Australian brand by 2021 after plunging domestic sales for Holden vehicles (stock)