Just like Ford before it, GM and Holden have today confirmed that it will scale back its Australian manufacturing operations by 2017.
The news had been speculated upon for some time, but today General Motors officially pulled the trigger.
Holden announced today that it would transition into an Australia and New Zealand "sales" business, shuttering manufacturing plants in Victoria and South Australia.
Managing director Mike Deveraux told journalists today that Holden Australia would become a full importer of cars, while maintaining a Design Centre here.
2900 jobs are to be affected over the next four years as the company ceases local vehicle and engine production, while simultaneously reducing engineering operations.
Holden said in a statement that the perfect storm of a high Australian dollar, high cost of production and a comparatively small and fragmented market contributed to the decision to pull out of the country.
It's unclear as yet what will happen to the Commodore brand, which Holden builds locally and exports into the US market as the Chevrolet SS Sports Sedan. Holden's GM said in a press conference today that workers should be "proud of the Cruze and Commodore models until the very last car rolls of the production line in 2017", insinuating that the two cars produced locally will be killed off after the shuttering.
Read more on Business Insider.