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Winding up Holden — The End of an Era

Feb 27, 2021 | Stories

The demise of Holden is a sad day for Aussies, but you might just be sitting on a gold mine!

On 17 February 2020, General Motors announced that they were pulling the pin on their right-hand-drive vehicles, meaning the death of the Holden in Australia.

Founded in 1856, Holdens have long been an Aussie icon — up there with Mick Dundee or a meat pie at the footy. Closing down Holden really is the end of an era, but what does this mean for owners and fans of this popular car?

Can I still buy a Holden?

Holden is due to finish their winding down period by about the end of 2021. Currently, there are still dealerships open with brand new vehicles ready to go. If you were thinking about buying a new Holden, this could be a great opportunity to snatch one up for a discounted price. Dealerships are working hard to clear the stock from their floors, ready for their next phase of either closing up or converting to standalone service centres to honour warranty and servicing agreements. 

 

Can I get parts for my Holden?

Holden has committed to providing aftersales support for at least ten years. This means spare parts and servicing will still be available. They’re also honouring their free scheduled servicing offers and all existing warranties, so you won’t lose out if you already own a Holden with any of these guarantees.

 

What is my Holden worth?

Depending on the type of model you own, economics basics of supply and demand suggest you could be sitting on a gold mine in the future. As the numbers of these popular cars dwindle, we can expect to see the prices pick up as people decide they’d like to own a piece of Australian automotive history. While the Commodore has always been a well sought after car, the demise of the Holden brand has seen interest and prices of the Commodore steadily rise — particularly the SS.

 

What does the closure mean for the V8 Supercars?

While Holden is out of the Supercars series, GM intends to still be a part of the sport with the Chevrolet Camaro ZL1 racing in the Supercars’ Gen3 from 2022. The Triple Eight team will be saying goodbye to the Commodore and competing in the Camaro in all of its V8 glory. The days of the Aussie rivalry of Ford vs Holden are long gone. Let’s hope the rivalry of Mustang vs Camaro is just as enjoyable to watch.

 

Should I buy a Holden?

In terms of safety and performance, Holden has well and truly shown that they are capable of going above and beyond. Now could be the perfect time to pick one up for a great price. If you’re looking for a new Holden, you may get a good deal as the retailers’ race to clear their stock. If you’re looking for a classic vehicle or a desirable model such as an SS Commodore, it might pay to grab one while you can before the prices rise any further — which they are expected to do. A Finance One vehicle loan could help you get your hands on your very own piece of history.

As the sun sets on the iconic Holden and we watch it transfer from a household name to a collector’s item, be sure to give your car the well deserved TLC that it has earned. Who knows, keeping your car shiny and clean could end up making you some money down the track.

 

Disclaimer: The information above is of a general nature only and does not consider your personal objectives, financial situation or particular needs. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your particular circumstances.  We do not accept responsibility for any loss arising from the use of, or reliance on, the information.

 

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WRITTEN BY

WRITTEN BY

Makala Elliott

Makala is the Marketing Manager at Finance One. She has worked in the Finance and Lending industry for over 10 years, gathering a wealth of experience. She is passionate about helping Australians get back on track with their finances by passing on her knowledge.

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