Business
GM Holden plunged to $35m loss in final year – The Australian Financial Review
The carmaker plummeted deep into the red prior to the shock decision to scrap the Holden brand, but says servicing at 200 outlets will stay on for 10 years.
The operating business made a loss of $13.7 million but this was pulled lower to a loss of $35.1 million once a ”re-measurement loss” on defined benefit superannuation plans was included.
GM Holden in Australia made a profit of $68.5 million in calendar 2018.
The accounts also showed that GM Holden received $2.1 million from the federal government’s Automotive Transformation Scheme in 2019, after receiving $11.6 million in 2018. That scheme was set up several years ago, and one of many desig…
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