Just as we told you yesterday, Holden underwent a strong restructuring process that helps the company stay away of bankruptcy threats. In a press release rolled out today, Reuss assured that GM's filing does not affect Holden's employees and supplier payment arrangements, dealer and warranty arrangements, local design, engineers or manufacturing operations.
“Holden is a subsidiary of GM but we are a corporate entity in our own right – an independent company under Australian law," Reuss said in the statement.
“We don’t anticipate this decision will have any direct impact on Holden’s workforce, dealers, or suppliers. Holden customer warranties are not affected and we continue to deliver the sales and service experience that our customers expect. We wouldn’t normally issue statements to highlight nothing has changed, but we appreciate that customers will naturally ask questions about this sort of announcement from the US.”
Holden currently has a total workforce of 6000 people in Australia and New Zealand and spends about $500 million per year on employee wages. The company is now getting ready to debut an improved version of the Commodore, the best-selling model in its whole product range, which will rely on exactly the best two factors demanded by a difficult economic environment: low fuel consumption and reduced emissions.
“We intend to maintain our focus on Holden product programs and activities. 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. We continue to run full operations at Elizabeth and Port Melbourne, producing cars for our 300-strong independent dealer network," Reuss said.