GM Says Holden is Safe from Bankruptcy Proceedings, will be an Important Part of 'New GM'

It appears that -at least for the time being- Holden has escaped unscathed from the bankruptcy of its parent company, General Motors. As stated by the American automaker, Holden will continue normal operations in Australia and New Zealand as the company is not directly affected by GM's bankruptcy process in the US. "We don't anticipate this decision will have any direct impact on Holden's workforce, dealers, or suppliers," said Holden Chairman and Managing Director, Mark Reuss.

"Holden is a subsidiary of GM but we are a corporate entity in our own right – an independent company under Australian law. Beyond that, GM has indicated that Holden will be an important part of the New GM," Reuss said.

According to Holden's chief, the automaker will continue to maintain its focus on the planned 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," he added.