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The Wall Street Journal reported that General Motors had already decided to close its two troubled Australian plants. According to the newspaper, "people familiar with the auto maker's plans" have revealed that GM is 'preparing a concerted attack on its most troubled international operations", which is likely to end car production in Australia in about two years' time.
The car giant reportedly also plans to slash production in South Korea by as much as 20 per cent, also by 2016.
Economic challenges, including a strong Australian dollar and a shift to imports, are among the reasons believed to be putting pressure on GM's local arm.
This morning, Holden boss Mike Devereux will make his first public appearance since a leak about a shutdown, delivering a final case to the Productivity Commission to save manufacturing operations.
The public will be able to watch the proceedings at the commission's headquarters in Collins St, which are expected to last less than an hour.
Central to Holden's argument is its claim that it generated $32.7 billion of economic activity in Australia from 2001 to 2012, including $21 billion paid to other businesses for goods and services.
The Productivity Commission is due to publish a preliminary report on the car manufacturing industry on December 20, and a final report on March 31.
The closure of Holden's car-making factory in Elizabeth, South Australia, is widely viewed by the Federal Government and industry observers as a formality. But Holden insists a formal decision has not been made.
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