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GM to cut South Korean workforce ahead of European Chevrolet exit
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GM to cut South Korean workforce ahead of European Chevrolet exit

General Motors will axe thousands of workers in South Korea from next year ahead of Chevrolet's exit from the European market in 2015. US media reports GM Korea CEO Sergio Rocha has said the manufacturer plans to open up a "voluntary retirement" scheme to 6000 salaried office workers by March, however, it does not plan to cut any of its 10,000 factory jobs...


Prime Minister announces $100m fund for displaced Holden workers
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Prime Minister announces $100m fund for displaced Holden workers

Prime Minister Tony Abbott has announced a $100 million fund to help displaced automotive manufacturing industry workers find new jobs in South Australia and Victoria following Holden's decision to stop production in 2017. Abbott told reporters the $100 million fund would be used to "invest in potential employment-generating projects in South Australia and in Victoria"...


GM to invest $1.45 billion in US manufacturing
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GM to invest $1.45 billion in US manufacturing

General Motors will invest just shy of US$1.3 billion ($1.45 billion) across five of its US manufacturing sites, with funding going towards production of a new V6 engine, an all-new 10-speed automatic transmission and an existing six-speed automatic transmission...


GM to sell stake in PSA Peugeot Citroen, scale back partnership
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GM to sell stake in PSA Peugeot Citroen, scale back partnership

General Motors will sell its entire seven per cent stake in PSA Peugeot Citroen and scale back its collaborative efforts with the French car maker. GM vice chairman Steve Girsky says the US-based manufacturer plans to sell the 24,839,429 shares – which it acquired for approximately US$400 million ($446 million) when it entered the strategic alliance with PSA in March 2012 – through a private placement to institutional investors...


HSV shortlisting imports for post-Commodore era
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HSV shortlisting imports for post-Commodore era

HSV is already eyeing a number of vehicles for its 2018 showroom once production of the Holden Commodore ceases at the end of 2017. HSV managing director Phil Harding this week vowed the Melbourne-based manufacturer would continue producing high-performance vehicles after the last locally made Holden rolled off the line at Elizabeth, despite HSV's current line-up comprising only Australian-made Commodore-based products...


Holden won
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Holden won't be replaced by Chevrolet in 2018, says Devereux

Holden chairman and managing director Mike Devereux says the iconic brand will remain a "great part of the automotive culture" long after the company stops building cars in Australia in 2017. Amid rumours the Holden brand and famous lion logo could be replaced with General Motors' global Chevrolet division and its bowtie badge from 2018, Devereux says the homegrown brand is here to stay...


Holden workers should stand tall, says Devereux
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Holden workers should stand tall, says Devereux

Holden chairman and managing director Mike Devereux has thanked the car maker's 2900 workers for their commitment to the brand and has promised the company will do everything in its power to support them in the years leading up to its 2017 closure...


Holden exit decision made after Productivity Commission hearing, says Devereux
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Holden exit decision made after Productivity Commission hearing, says Devereux

Holden chairman and managing director Mike Devereux insists he was telling the truth at yesterday's Productivity Commission hearing when he said no decision had been made on the company's local manufacturing future...


GM names Barra first female CEO
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GM names Barra first female CEO

Mary Barra will become the first female CEO of General Motors when she succeeds current boss Dan Akerson early next year. A GM employee for 33 years and the US car maker’s current executive vice president of global product development, 51-year-old Barra was elected to the top job by GM's board of directors. She will also become a member of the board of directors in the new role...


US government sells remaining GM shares: loses $11.5 billion
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US government sells remaining GM shares: loses $11.5 billion

The US government has sold its last remaining shares in General Motors at an approximate loss of US$10.5 billion ($11.5 billion). Ending a more than four-year era of GM government ownership, initiated in 2008 by President George W. Bush, industry journal Automotive News reports the US Department of Treasury recovered US$39 billion ($42...


$300m a year to save Holden, Toyota and suppliers, says Carr: report
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$300m a year to save Holden, Toyota and suppliers, says Carr: report

Shadow industry minister Kim Carr says the Federal Government has documents that reveal it would cost $300 million extra per year to secure the local manufacturing futures of Holden, Toyota and 160 parts makers to 2025, and less than half that to keep Holden's manufacturing operations alive for the same length of time...


Prime Minister demands clarity from Holden on manufacturing future
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Prime Minister demands clarity from Holden on manufacturing future

Prime Minister Tony Abbott has demanded Holden make its intentions clear about its manufacturing future following reports and speculation that it has decided to cease production from 2016. The ABC and The Australian both quote senior government ministers who claim the car maker has decided to wind up its local manufacturing operations, and was poised to announce its withdrawal from the industry this week before postponing the announcement...


Chevrolet to exit Europe in 2015
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Chevrolet to exit Europe in 2015

General Motors will pull Chevrolet from Europe by the end of 2015 as the US-based automotive giant attempts to turn around its embattled European operations. GM confirmed its decision to axe Chevrolet as a mainstream brand in Western and Eastern Europe was largely due to the region's difficult economic situation and the consequent challenging business model...


Holden to end production from 2016, say senior ministers: reports
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Holden to end production from 2016, say senior ministers: reports

Holden has decided it will cease vehicle production as early as 2016, according to sources quoting senior government ministers. The ABC and The Australian both report that the car maker was poised to announce its decision to close its manufacturing operations this week, but has since postponed the announcement...


Local car makers call for wide-ranging support in Productivity Commission submissions
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Local car makers call for wide-ranging support in Productivity Commission submissions

Australia's three surviving car makers have called for continued financial support, a reassessment of tariffs and trade agreements, and policy clarity in their submissions to the Federal Government's inquiry into the current state and the future of automotive manufacturing in Australia...


GM to design next Batmobile: report
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GM to design next Batmobile: report

General Motors will reportedly design the next Batmobile, adopting a new design language for the caped crusader's preferred mode of transport. The rumour, which was first started on Batman fansite 'Batman on Film', suggests GM's Advanced Design Studio in North Hollywood has been tasked with designing the new movie car...


GM boss Dan Akerson "concerned" by European brand strategy
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GM boss Dan Akerson "concerned" by European brand strategy

General Motors CEO Dan Akerson says GM is building towards a major strategic realignment of its marques in Europe, with a focus on Chevrolet and Opel. Akerson told Automotive News the "confusing" overlap between Chevrolet and Opel in Europe is a particular source of frustration, with their similar market positioning reminiscent of "retro GM", referring to a time when the automotive giant saturated the market with many similar brands and models...


Holden going ahead with plant upgrades for new models: report
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Holden going ahead with plant upgrades for new models: report

Holden will reportedly implement upgrades to its South Australian assembly plant this summer in preparation for production of the next-generation Commodore and Cruze, despite still having no guarantee of government funding beyond 2016...


Holden to cease production within four years, say ministers: report
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Holden to cease production within four years, say ministers: report

Senior ministers reportedly believe Holden will end its manufacturing operations within three or four years regardless of whether the Federal Government offers it financial assistance for the future. The Fairfax report says the ministers' perceived view of Holden's supposed planned exit has created divisions within the government, with some opposed to giving the embattled car maker further funding...


Holden boss
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Holden boss's departure creates "very dangerous situation" for industry: SA Premier

South Australian Premier Jay Weatherill says the promotion of Holden chairman and managing director Mike Devereux to a new role with General Motors in China leaves the local automotive manufacturing industry in a "very dangerous situation"...