Operations in Australia and New Zealand will continue as normal
2 June 2009

Holden has insisted it is will carry on as normal, despite parent company GM's Chapter 11 bankruptcy filing and the upcoming axing of the Pontiac brand.

Holden issued a statement saying it will continue normal operations in Australia and New Zealand.

"We don't anticipate this decision will have any direct impact on Holden's workforce, dealers, or suppliers," said Holden chairman and managing director, Mark Reuss.

"Holden is a subsidiary of GM but we are a corporate entity in our own right – an independent company under Australian law. Beyond that, GM has indicated that Holden will be an important part of the New GM.

"That means technology improvements to our best selling Commodore range, launching the all-new Holden Cruze this month, and the introduction of our locally-built fuel efficient, four cylinder small car next year."

Reports have previously suggested that Holden, the maker of the Vauxhall VXR8, stands to lose up to £500million a year from the death of Pontiac.

Pontiac to "cost Holden millions"

General Motors announced earlier this year it would phase out the Pontiac brand by the end of 2010 and with it the G8, which is produced by Holden.

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