It just ain’t getting any better at cash-strapped\u00a0 Holden.<\/p>\n
After losing an export order for Pontiac\u00a0vehicles earlier in the year and putting their Elizabeth, SA \u00a0workers on a one week on, one week off roster, a form of job sharing, Holden have announced an annual loss of some $70mil. for the ’08\/’09 financial year, with a drop of $300mil. in total revenues.<\/p>\n
Whilst not as severe as Ford Australia, who recorded a stunning $274mil. loss for ’08\/’09 it still raises further questions about Holden’s long term prospects.<\/p>\n
Couple the local problems with its parent’s Chapter 11 bankruptcy, it needs an eternal optimist clad in rose coloured glasses to forecast a rosey future.<\/p>\n
Perhaps the biggest question to ask is whether they can continue with their planned introduction of the new Cruze small car onto local production lines.<\/p>\n
The recently announced and highly lauded small car is currently sourced from Korea, but plans are afoot to gear up for local production during 2010.<\/p>\n