My Holden is financed through Holden Financial Services. Will that contract remain in place?
Yes, Holden will honour all contracts that buyers took out with Holden Financial Services.
I was considering buying a Holden, but now I’m not sure. What will happen to the value of the car?
You can still buy a Holden until the dealers close their sales operations. There are likely to be good deals on some Holden models until they sell out.
Questions remain about depreciation. Some Australian-built Holden models, such as the VF Commodore, are likely to hold their value better than some of Holden’s imported models. There is demand for the Aussie-built Commodore sedan, wagon and ute, depending on the engine and model grade. For example, a V8-powered SS-V Redline should hold its value well, more so than a base-model V6 sedan. The last VF Commodores rolled off the Elizabeth production line in October 2017, so the last examples are a few years old now.
Other models, including the more recent ZB Commodore, imported from Germany, as well as the Astra hatch, Trax, Equinox and Trailblazer SUVs may not hold their value as well as the Australian-made Commodore. Some of Holden’s more highly regarded models in popular segments, such as the Colorado ute and Acadia large SUV, may hold their value a little better than the others. Check car sales websites for current prices and expected depreciation.
Will Holden still be a part of the Australian Supercars Series?
Holden has a contract to compete in the 2020 Australian Supercars Championship, but its future beyond this year is unclear. Holden executives say they will sit down for discussions with the Supercars organisers in the coming days. The death of the Holden brand would make it very difficult to compete beyond 2020 given there will be no retail presence. Whether GM chooses to be involved with the series through its specialty vehicle business remains to be seen.
Is the Chevrolet Corvette still coming to Australia as planned? And is the Chevrolet Silverado still going to be available?
Holden confirmed last year that it would import the new-generation C8 Chevrolet Corvette high-performance sportscar in 2020/21, with GM committed to producing the vehicle in right-hand-drive (RHD) configuration for Australia and other RHD markets. GM is not saying too much about whether it still plans to build the Corvette in RHD at its Kentucky (US) factory.
However, the company has committed to retaining an Australian brand presence through a GM “specialty vehicle business”. While they are yet to announce plans, they are likely to include Holden Special Vehicles (HSV) which currently converts left-hand-drive North American models such as the Chevrolet Camaro coupe and the Chevrolet Silverado full-size pick-up to right-hand-drive at its Clayton facility.