Holden may not be in the best shape at present, but in 2017, General Motors’ Australian subsidiary still managed to turn a profit. Motoring reported on Tuesday that Holden brought in $156.8 AUD million in after-tax profit for 2017, or $117 million USD with today’s exchange rates.
The $156.8 million is actually $4 million AUD greater than Holden’s 2016 financial performance. However, Holden also earned $35.6 million AUD from the sale of its property, manufacturing plant and equipment last year as well. The brand also said it invested $70.7 million AUD in research and development.
The financial performance will be an interesting one to watch for 2018. Last year, Holden still sold its locally built VF Commodore and associated variants. This year, the 2018 ZB Commodore, imported from Europe, takes over sedan duty. Thus far, Holden hasn’t found much luck with its updated portfolio. The Astra, Equinox and Commodore have all underperformed thus far.