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Yep!!!! Just got into work and its all over GM socrates..... so finally it is official!!!

GM to Transition to a National Sales Company in Australia and New Zealand

Company to Cease Manufacturing in Australia by 2017

As part of its ongoing actions to decisively address the performance of its global operations, General Motors today announced it will transition to a National Sales Company in Australia and New Zealand. The company also said it will discontinue vehicle and engine manufacturing and significantly reduce its engineering operations in Australia by the end of 2017.

“We are completely dedicated to strengthening our global operations while meeting the needs of our customers,” said GM Chairman and CEO Dan Akerson. “The decision to end manufacturing in Australia reflects the perfect storm of negative influences the automotive industry faces in the country including the sustained strength of the Australian dollar, high cost of production, small domestic market and arguably the most competitive and fragmented auto market in the world.”

As a result of the company’s actions, approximately 2,900 positions will be impacted over the next four years. This will comprise 1,600 from the Elizabeth vehicle manufacturing plant and approximately 1,300 from Holden’s Victorian workforce.

Holden will continue to have a significant presence in Australia beyond 2017, comprising a national sales company, a national parts distribution centre and a global design studio.

GM Holden Chairman and Managing Director Mike Devereux said an important priority over the next four years would be to ensure the best possible transition for workers in South Australia and Victoria.

“This has been a difficult decision given Holden’s long and proud history of building vehicles in Australia,” said Devereux. “We are dedicated to working with our teams, unions and the local communities, along with the federal and state governments, to support our people.”

The sale and service of Holden vehicles will be unaffected by this announcement and will continue through the extensive network of Holden dealers across Australia and New Zealand. Warranty terms and spare parts availability will remain unchanged.

“GM remains committed to the automotive industry in Australia and New Zealand. We recognize the need for change and understand the government’s point of view. Moving forward our business model will change significantly however, GM Holden will remain an integral part of its communities and an important employer both directly and through our dealers,” added Devereux.

Since 2001, the Australian dollar has risen from US$0.50 to as high as US$1.10 and from as low as 47 to as high as 79 on the Trade Weighted Index. The Australian automotive industry is heavily trade exposed. The appreciation of the currency alone means that at the Australian dollar’s peak, making things in Australia was 65 percent more expensive compared to just a decade earlier.

With the decision to discontinue vehicle and engine manufacturing in Australia by the end of 2017, GM expects to record pre-tax charges of $400 million - $600 million in the fourth quarter of 2013 consisting of approximately $300 million - $500 million for non-cash asset impairment charges including property, plant and equipment and approximately $100 million for cash payment of exit-related costs including certain employee severance related costs. Additional charges are expected to be incurred through 2017 for incremental future cash payments of employee severance once negotiations of the amount are completed with our employees’ union. The asset impairment charges will be considered special for EBIT-adjusted reporting purposes.
 

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GM are just like the Necromongers.

They kill what I like...

Ok lets see what we have now..

GM Korea and GM do Brasil.

Will be GM Australia (next).

We should start a dead pool to see which ones get the ax next.
 

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GM has GOT to learn that if they don't sell what people want people go buy else where. That and GM's horrible customer service its no wonder they're closing up shop. At the rate GM is going they'll be bankrupt again and the govt. once again will bail them out, they should be allowed to go under.
 

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They have now a new CEO; Mary Barra.

According to the book of knowledge her dad worked for Pontiac and her favorite cars are the Camaro and the Firebird. Could be nothing or some to come.

That is one of the problems when a company is public. Share Holders has tons of influence and most of the time is not about the product.

Michell Dell bought his company back and switch to private. At least he has more control of it.
 

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Sad to hear but not totally surprising to hear. I just somehow need to get my hands on a HSV Gen F GTS.
 

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Good One

Great Post. <a href="https://www.19216811adminip.com/">192.168.l.l</a> is the default router login so try it yourself.
 

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Watching the news before going to work. The story came up that today the last Commodore rolls of the assembly line. :crying:
 

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Why do the good ones always have to die? Indeed truer words have never been spoken. :frown2:
 

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Only the good die young, damn it, I'm going to live forever.
We all knew this day was coming, but like most deaths still gets to you when it happens.
 

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GM are just like the Necromongers.

They kill what I like...

Ok lets see what we have now..

GM Korea and GM do Brasil.

Will be GM Australia (next).

We should start a dead pool to see whic filezilla uc browser rufus ones get the ax next.
GM has GOT to learn that if they don't sell what people want people go buy else where. That and GM's horrible customer service its no wonder they're closing up shop. At the rate GM is going they'll be bankrupt again and the govt. once again will bail them out, they should be allowed to go under.
 

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Also Oz got slamed by the Labor Party. They ruined all trade deals. Their Labor Party is like the Democrats in the US. Set the stage for a debacle. The VE and VF are a very true 100% Aussie cars. GM also fell in the 2008 Financial debacle. GM chopped Pontiac and their future source for US exports went down the tube. Pontiac would had pretty much the Ute, the Clubsport, Sportwagon and many other trims.

Ford ended on the same trap. They had an SUV based on the Falcon platform, the best Ford ever driven on Dearborn Proving Ground on that time. They decided to pass on it.

Mitsubishi... down that hole too along with Toyota.

The monetary system died in 08, we are on a 10+ years life support, is not going to end well. I hope all of you are prepared for a financial sh¡t storm.

Watch this Aussie Motor History on 4 parts. The 3rd and 4th, will give you an idea on what went wrong. Is very sad, their industry is 100% gone, no cars or parts are produced in Down Under.




 

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Also Oz got slamed by the Labor Party. They ruined all trade deals. Their Labor Party is like the Democrats in the US. Set the stage for a debacle. The VE and VF are a very true 100% Aussie cars. GM also fell in the 2008 Financial debacle. GM chopped Pontiac and their future source for US exports went down the tube. Pontiac would had pretty much the Ute, the Clubsport, Sportwagon and many other trims.

Ford ended on the same trap. They had an SUV based on the Falcon platform, the best Ford ever driven on Dearborn Proving Ground on that time. They decided to pass on it.

Mitsubishi... down that hole too along with Toyota.

The monetary system died in 08, we are on a 10+ years life support, is not going to end well. I hope all of you are prepared for a financial sh¡t storm.

Watch this Aussie Motor History on 4 parts. The 3rd and 4th, will give you an idea on what went wrong. Is very sad, their industry is 100% gone, no cars or parts are produced in Down Under.




I don't think we should bring politics into this.

However, if it wasn't for the Democratic administration, GM would not have survived and there would not have been a PPV, Chevy SS, etc.
 

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Well, is was to give some refference, an idea on what happen back then and how politics played out.

A lot of people have no interest or are ignorant about stuff that happen overseas. But to give them some to compare or relate to, helps to see what is going on.
 
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