Holden Turns A Profit For 2017
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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.
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It’s glad to see they somehow managed to earn their own profit. Next time, I just want to see their own long-term plan…to ensure either they can keep themselves sustainable or not in next decades.
At least, the brand Holden is still valuable one: just only hampered by their spiritual death, as its spirit was came from Australian developed, produced automobiles.
Actually, the Holden brand, just like Ford Australia, is on the nose here. There isn’t a single product in the Holden lineup I’d consider buying myself, and as far as Ford goes, the only one I’d consider is a Ranger, but then I wouldn’t be paying full retail for it. But it’s not hard to turn a profit when you no longer make anything and get rid of one hundred dealers to support.
Hmm, on the nose…Australians don’t consider Holden and GM’s offering unlike before, and it’s likely to cut out everything possible could be their long-term plan in Australia, then you mean, Holden is dying in their homeland? If it is what you really meant to say, that’s sad…(sob)
Holden will live on.
You can get mad at GM all you like but it is just not economically viable to make specific cars for such a small market anymore.
The automakers are working to get California on the same plan just to save the added astronomical costs to meet just their emissions only.
The cost are not just effecting small markets like down under but all markets. Companies just can not afford to spend more than the billions they already spend and still give you a car you can barely afford.
The culling of Holden centric models was never personal it was the long term plan to try to make it profitable to remain in the market there. .
Well it feels personal, just ask any Australian. That is why sales are very poor now. Perhaps if they had communicated better it would be a different story.
No communication would’ve saved the brand. There’ll be no such thing as Holden as a brand within ten years, especially if they continue bringing out horrible products like all of their current range. You couldn’t pay me enough to take a new Holden.
I know but it is not. It is just global buisness. We all are getting hit some place.
GM was the last hold out there and even tried to export the Zeta but it just did not work.
Like the loss of Olds an Pintiac here it was just buisness and survival. Companies need to make changes not just to make more money but to survive.
Your country just is not a large enough market to support local cars any longer. We here will in time e port the Camaro to keep it alive just as Ford is exporting the Mustang. They no longer sell in great enough numbers and in time may be at risk of elimination too.
There was a time they sold as many Camaros as Holden sold cars. Today they are lucky to move 60k units. There is just not much money in that vs other models that could sell 3-4 times as many.
It is not easy to get secure in the industry as a mfg anymore but it is real easy to fall into jeopardy fast.
We are in an era where Ford is at risk of major changes if they do not see a raise in stock prices. The only protection they have is the Ford family. But if they keep losing money they could cash out before it is all gone.
That is how serious things are for all MFGs.
We have yet to see more models and MFGs die. We will see more.
While it might not be personal, it’s suicide for the Holden brand. The cars they actually made themselves were the only ones worth buying in the range. I wouldn’t set foot in a Holden dealer now since everything they have is either unreliable, horribly made or drives like crap.
I would’ve bought an SS ute tomorrow if they were still available, and a Caprice V for a family car. The Colorado is plagued with quality and reliability issues, and so is everything else in the current range, including the Astra (which only the hatchback is an Opel, the sedan is just a rebadged Cruze and comes from GM South Korea).
Hi Aaron I just looked on carsales there are 40 brand new SS utes at dealers around the country. I happened to be on there to see how many new SS sedans and HSV Clubsports are available and yeah there are a decent number that are still in the market.
Typical lots of talk and no action BS….”I’d buy this and I’d buy that”…….why didn’t you then?
Oh it’s personal alright. Personal for the Holden staff who lost their jobs. Personal for the dealers who were cut loose without reason. Personal for the current dealers who have no foot traffic in their showrooms. Personal for the supply companies who have sacked staff or closed up shop. Personal for the Australian taxpayer who threw billions of dollars at GM to satisfy their demands to cough up or suffer closure.
Most Aussies believe Holden won’t make the end of year.
Most Aussies believe that Holden won’t make the end of year, eh?
A more accurate statement is that most Aussies don’t actively think about the future of an automaker, Holden included.
Glad they they made some money “last year” , truth is sales were down 23% in the first quarter of 2018. Badging the Opel Insignia / Buick Regal as a Commodore was a huge mistake. The VE/VF Zeta based Commodores may not have been perfect, but they were pretty damn good. They should have named the new car something else.
Without the Aussie made Commodore Ute, Sedan & Stationwagon, not to mention the HSV variants and Chevy SS model exports, the profit statement is going to look VERY different in 2018!
Who would want to be Managing Director of a brand in it’s death throes!?
I think, even what if they decided to build gen 2 Cruze, then-contemporary Impala, or Malibu in Australia to export somewhere of Middle East and Asia, things could have been different somehow…hmm, is my speculation wrong? As my idea could be wrong, I’d like to listen to others.
That’s why they made an Aussie MD of the company to oversee the shutdown. They pulled all the Americans out. None wanted a failure on their resume!