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The GM-owned brand surrendered the Commodore's crown as Australia's favourite car last year, but still ended up with a healthy bottom line. It has just reported an $89.7 million profit after also suffering a fall in overall revenues last year.
The result is a significant positive for a company that has battled hard in recent years, particularly during the time that its parent - General Motors - was in bankruptcy.
The profit is well short of the $400 million-plus outcomes of the good years for Fishermans Bend but is likely to be better than either of the other local carmakers, Ford and Toyota, manage in their next set of financial results.
"Local carmakers face tough economic conditions with the high Australian dollar, higher prices and disruption in the local supply base, and increasing competition and segmentation in the market," says George Kapitelli, the chief financial officer at Holden.
But he confirms that Holden is committed to Australia. "We're running our business responsibly and sustainable for the long
term," he says.
Holden built 90,424 cars at Elizabeth in South Australia last year, an increase of 36.8 per cent that was largely thanks to the introduction of the compact Cruze.
It also lifted V6 engine production by 2.9 per cent to 101,019, and increased its vehicle exports by 54.2 per cent thanks to shipments of 12,068 cars to the Middle East, New Zealand, North America, Brazil and South Africa.
