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107-581: Holden , formerly known as General Motors-Holden , was an Australian subsidiary company of General Motors . Founded in Adelaide, South Australia , it was an automobile manufacturer , importer, and exporter that sold cars under its own marque in Australia. In its last three years, it switched entirely to importing cars. It was headquartered in Port Melbourne , with major industrial operations in

214-405: A corporate , although this term can also apply to cooperating companies and their subsidiaries with varying degrees of shared ownership. A parent company does not have to be the larger or "more powerful" entity; it is possible for the parent company to be smaller than a subsidiary, such as DanJaq , a closely held family company, which controls Eon Productions , the large corporation which manages

321-609: A building in Gawler Place , which he purchased in 1865. A contract to supply carts and other equipment for the Overland Telegraph Line project's 165 horses and 210 bullocks was a major factor in the expansion of the business. From October 1871 to May 1874 Alfred James Birks was a partner in a subsidiary retail business, termed Holden & Birks, owning premises on Rundle Street at the south west corner of Gawler Place. In May 1879 J. A. Holden & Co. moved to

428-529: A common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway , Jefferies Financial Group , The Walt Disney Company , Warner Bros. Discovery , or Citigroup ; more focused companies include IBM , Xerox , and Microsoft . These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Subsidiaries are separate, distinct legal entities for

535-487: A definition that provides that "control" is "the capacity of an entity to dominate decision-making, directly or indirectly, in relation to the financial and operating policies of another entity so as to enable that other entity to operate with it in pursuing the objectives of the controlling entity". This definition was adapted in the Australian Corporations Act 2001 : s 50AA. Furthermore, it can be

642-404: A joint arrangement (joint operation or joint venture) over which two or more parties have joint control (IFRS 11 para 4). Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The Companies Act 2006 contains two definitions: one of "subsidiary" and

749-432: A judgment against the parent if they can pierce the corporate veil and prove that the parent and subsidiary are mere alter egos of one another. Thus any copyrights, trademarks, and patents remain with the subsidiary until the parent shuts down the subsidiary. Ownership of a subsidiary is usually achieved by owning a majority of its shares . This gives the parent the necessary votes to elect their nominees as directors of

856-502: A lack of Australian identity and internal company competition, decreasing the brand recognition and desirability of Holden in its domestic market. This led to the announcement, on 11 December 2013, that Holden would cease vehicle and engine production by the end of 2017. On 29 November 2016, engine production at the Fishermans Bend plant was shut down. On 20 October 2017, production of the last Holden designed Commodore ceased and

963-459: A large four-storey factory on the site. By 1923, HMBB were producing 12,000 units per year. During this time, HMBB assembled bodies for Ford Motor Company of Australia until its Geelong plant was completed. From 1924, HMBB became the exclusive supplier of car bodies for GM in Australia, with manufacturing taking place at the new Holden Woodville Plant (which was actually in the adjacent suburb of Cheltenham ). These bodies were made to suit

1070-566: A larger home in Magill , then a year later sold up both places for a Kensington Park property of 15 acres (6.1 ha), where in 1871 the original cottage was replaced with a seven roomed residence, with substantial additions in 1875. The business also went through a succession of addresses, from the original leased premises at the corner of King William and Rundle Street in 1856 then larger premises at 34 King William Street in 1859. The business, which became J. A. Holden & Co. in 1863, moved to

1177-719: A localised version of the Chevrolet Cruze in Australia from 2011, Holden in 2009 announced that it would initially import the small car unchanged from South Korea as the Holden Cruze. Following the government grant announcement, Kevin Rudd , Australia's Prime Minister at the time, stated that production would support 600 new jobs at the Elizabeth facility; however, this failed to take into account Holden's previous announcement, whereby 600 jobs would be shed when production of

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1284-536: A market share of more than 50% in 1958 with the revised FC model. This was the first Holden to be tested on the new Lang Lang Proving Ground in Lang Lang, Victoria . In 1957, Holden's export markets grew to 17 countries, with new additions including Indonesia, Hong Kong, Singapore, Fiji, Sudan, the East Africa region, and South Africa. Indonesian market cars were assembled locally by P.T. Udatin. The opening of

1391-553: A number of chassis imported from manufacturers including Austin , Buick , Chevrolet , Cleveland , Dodge , Essex , Fiat , Hudson , Oakland , Oldsmobile , Overland , Reo , Studebaker and Willys-Knight . In 1926, General Motors (Australia) Limited was established with assembly plants at Newstead, Queensland ; Marrickville, New South Wales ; City Road, Melbourne, Victoria ; Birkenhead, South Australia ; and Cottesloe, Western Australia using bodies produced by HMBB and imported complete knock down chassis. In 1930 alone,

1498-552: A partner and effectively managed the company. In 1885, German-born H. A. Frost joined the business as a junior partner and J. A. Holden & Co became Holden & Frost Ltd. Edward Holden , James' grandson, joined the firm in 1905 with an interest in automobiles. From there, the firm evolved through various partnerships, and in 1908, Holden & Frost moved into the business of minor repairs to car upholstery. The company began to re-body older chassis using motor bodies produced by F. T. Hack and Co from 1914. Holden & Frost mounted

1605-754: A popular car, the Gemini rapidly attained sales leadership in its class, and the nameplate lived on until 1987. Holden's most popular car to date, the Commodore, was introduced in 1978 as the VB . The new family car was loosely based on the Opel Rekord E body shell, but with the front from the Opel Senator grafted to accommodate the larger Holden six-cylinder and V8 engines. Initially, the Commodore maintained Holden's sales leadership in Australia. However, some of

1712-671: A range of Opel-derived cars comprising the Astra VXR and Insignia VXR (both based on the OPC models sold by Vauxhall) and Cascada . Later that year, Holden also announced plans to sell the European Astra and the South Korean Cruze alongside each other from 2017. Subsidiary company The subsidiary can be a company (usually with limited liability ) and may be a government-owned or state-owned enterprise . They are

1819-419: A steady decline. Total Holden sales peaked in 2002 at 178 392 vehicles and were stable up to 2005 before declining for the rest of the decade and the next. This downturn affected Holden's profits; the company recorded a combined gain of A$ 842.9 million from 2002 to 2004, and a combined loss of A$ 290 million from 2005 to 2006. Factors contributing to the loss included the development of an all-new model,

1926-462: A subsidiary undertaking, if: The broader definition of "subsidiary undertaking" is applied to the accounting provisions of the Companies Act 2006, while the definition of "subsidiary" is used for general purposes. In Oceania , the accounting standards defined the circumstances in which one entity controls another. In doing so, they largely abandoned the legal control concepts in favour of

2033-621: A two-storey building in Grenfell Street and brought in his son Henry as partner. He sold the Gawler Place property to D & W Murray and the Rundle Street premises to Birks. Around the same time, saddler H. A. Frost joined the firm. On 1 May 1884 James took Frost into partnership in the business, which was in financial difficulties. In August 1885 J. A. Holden sold to his son H. J. Holden and H. A. Frost his interest in

2140-633: A useful part of the company that allows every head of the company to apply new projects and latest rules. James Alexander Holden James Alexander Holden (1 April 1835 – 1 June 1887) was the businessman who founded the South Australian company which eventually produced the Holden automobile. James Alexander Holden was born in Walsall (at that time in Staffordshire ),

2247-1002: Is a subsidiary/child company of the ultimate parent company, while a second-tier subsidiary is a subsidiary of a first-tier subsidiary: a "grandchild" of the main parent company. Consequently, a third-tier subsidiary is a subsidiary of a second-tier subsidiary—a "great-grandchild" of the main parent company. The ownership structure of the small British specialist company Ford Component Sales, which sells Ford components to specialist car manufacturers and OEM manufacturers, such as Morgan Motor Company and Caterham Cars , illustrates how multiple levels of subsidiaries are used in large corporations: The word "control" and its derivatives (subsidiary and parent) may have different meanings in different contexts. These concepts may have different meanings in various areas of law (e.g. corporate law , competition law , capital markets law ) or in accounting . For example, if Company A purchases shares in Company B, it

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2354-497: Is possible that the transaction is not subject to merger control (because Company A had been deemed to already control Company B before the share purchase, under competition law rules), but at the same time Company A may be required to start consolidating Company B into its financial statements under the relevant accounting rules (because it had been treated as a joint venture before the purchase for accounting purposes). Control can be direct (e.g., an ultimate parent company controls

2461-747: The High Feature engine. This was built at the Fishermans Bend facility completed in 2003, with a maximum output of 900 engines per day. This has reportedly added A$ 5.2 billion to the Australian economy; exports account for about A$ 450 million alone. After the VZ, the High Feature engine powered the all-new Holden Commodore (VE) . In contrast to previous models, the VE no longer used an Opel-sourced platform adapted both mechanically and in size, but

2568-667: The Adventra , a Commodore-based station wagon. The fourth model to be replaced with a South Korean alternative was the Vectra by the mid-size Epica in 2007. As a result of the split between GM and Isuzu, Holden lost the rights to use the "Rodeo" nameplate. Consequently, the Holden Rodeo was facelifted and relaunched as the Colorado in 2008. Following Holden's successful application for a A$ 149 million government grant to build

2675-520: The California and with help from Holden began importing ironmongery. In 1856 he set up in business as J. A. Holden & Co., merchants and wholesale saddlers, selling imported and locally made (no doubt from his brother) saddles, whips and harnesses. His business flourished, and in 1857 he married his landlady's daughter and purchased a four-roomed cottage in Beulah Park . They later moved into

2782-754: The Daewoo Kalos , replaced the Opel Corsa as the source of the Barina. In the same year, the Viva, based on the Daewoo Lacetti , replaced the entry-level Holden Astra Classic, although the new-generation Astra introduced in 2004 continued on. The Captiva crossover SUV came next in 2006. After discontinuing the Frontera and Jackaroo models in 2003, Holden was only left with one all-wheel drive model:

2889-564: The Dandenong , Melbourne , production facility in 1956 brought further jobs; by 1959, Holden employed 19,000 workers country-wide. In 1959, complete knock-down assembly began in South Africa and Indonesia. In 1960, Holden introduced its third major new model, the FB . The car's style was inspired by 1950s Chevrolets, with tailfins and a wrap-around windscreen with "dog leg" A-pillars . By

2996-617: The Family II engine ceased in late 2009. In March 2012, Holden was given a $ 270 million lifeline by the Australian Federal Government (Labor Party of Australia) along with the South Australian and Victorian state governments. In return, Holden planned to inject over $ 1 billion into car manufacturing in Australia. They estimated the new investment package would return around $ 4 billion to

3103-555: The HR was introduced, including changes in the form of new front and rear styling and higher-capacity engines. More significantly, the HR fitted standard front seat belts; Holden thus became the first Australian automaker to provide the safety device as standard equipment across all models. This coincided with the completion of the production plant in Acacia Ridge, Queensland . By 1963, Holden

3210-651: The Holden Astra , as a result of a deal with Nissan. This arrangement ceased in 1989 when Holden entered a new alliance with Toyota, forming a new company: United Australian Automobile Industries (UAAI). UAAI resulted in Holden selling rebadged versions of Toyota's Corolla and Camry , as the Holden Nova and Apollo respectively, with Toyota re-branding the Commodore as the Lexcen. The company changed throughout

3317-470: The James Bond franchise. Conversely, the parent may be larger than some or all of its subsidiaries (if it has more than one), as the relationship is defined by control of ownership shares, not the number of employees. The parent and the subsidiary do not necessarily have to operate in the same locations or operate the same businesses. Not only is it possible that they could conceivably be competitors in

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3424-506: The Shuttle (1982) van and the Piazza (1986) three-door sports hatchback. The second generation Holden Gemini from 1985 was also based on an Isuzu design, although, its manufacture was undertaken in Australia. In 1981, the Fishermans Bend engine plant began production of the Family II - part of a global engine programme for GM's compact vehicles. The plant supplied the engine locally for

3531-570: The Statesman WB limousines were introduced in 1980. However, the designs, based on the HQ and updated HJ, HX and HZ models from the 1970s were less competitive than similar models in Ford's lineup. Thus, Holden abandoned those vehicle classes altogether in 1984. Sales of the Commodore also fell, with the effects of the 1979 energy crisis lessening, and for the first time the Commodore lost ground to

3638-585: The Wankel rotary engine , as used by Mazda of Japan, an export agreement was initiated in 1975. This involved Holden exporting with powertrains , HJ, and later, HX series Premiers as the Mazda Roadpacer AP . Mazda then fitted these cars with the 13B rotary engine and three-speed automatic transmission. Production ended in 1977, after just 840 units sold. Development of the Torana continued in with

3745-473: The "Holden". The unofficial usage of the name "FX" originated within Holden, referring to the updated suspension on the 48–215 of 1953. During the 1950s, Holden dominated the Australian car market. GM invested heavily in production capacity, which allowed the company to meet increased postwar demand for motor cars. Less expensive, four-cylinder cars did not offer Holdens the ability to deal with rugged rural areas. Holden 48–215 sedans were produced in parallel with

3852-614: The 1950s, the declining sales of large sedan cars in Australia led the company to look to international markets to increase profitability. In 2013, Holden revealed it received A$ 2.17 billion in Federal Government assistance in the past 12 years, the amount was much larger than expected. Holden blamed a strong Australian currency, high manufacturing costs and a small domestic market among the reasons for exit of local manufacturing. The Australian population also blamed GM's consistent mishandling of rebadging Holden's lineup leading to

3959-557: The 1970s, Holden ran an advertising jingle "Football, Meat Pies, Kangaroos, and Holden cars", a localised version of the "Baseball, Hot Dogs, Apple Pies, and Chevrolet" jingle used by GM's Chevrolet division in the United States. Holden discontinued the Torana in 1979 and the Sunbird in 1980. After the 1978 introduction of the Commodore, the Torana became the "in-between" car, surrounded by the smaller and more economical Gemini and

4066-453: The 1990s, increasing its Australian market share from 21 percent in 1991 to 28.2 percent in 1999. Besides manufacturing Australia's best selling car, which was exported in significant numbers, Holden continued to export many locally produced engines to power cars made elsewhere. In this decade, Holden adopted a strategy of importing cars it needed to offer a full range of competitive vehicles. During 1998, General Motors-Holden's Ltd name

4173-633: The 5.7-litre LS unit. The UAAI badge-engineered cars first introduced in 1989 sold in far fewer numbers than anticipated, but the Holden Commodore, Toyota Camry, and Corolla were all successful when sold under their original nameplates. The first generation Nova and the donor Corolla were produced at Holden's Dandenong, Victoria facility until 1994. UAAI was dissolved in 1996, and Holden returned to selling only GM products. The Holden Astra and Vectra , both designed by Opel in Germany, replaced

4280-566: The 50-2106 coupé utility from 1951; the latter was known colloquially as the "ute" and became ubiquitous in Australian rural areas as the workhorse of choice. Production of both the utility and sedan continued with minor changes until 1953, when they were replaced by the facelifted FJ model, introducing a third panel van body style. The FJ was the first major change to the Holden since its 1948 introduction. Over time, it gained iconic status and remains one of Australia's most recognisable automotive symbols. A new horizontally slatted grille dominated

4387-542: The Australian Government to halt the lowering of car import tariffs. By 1997, the federal government had already cut tariffs to 22.5 percent, from 57.5 percent ten years earlier; by 2000, a plan was formulated to reduce the tariffs to 15 percent. Holden was critical, saying that Australia's population was not large enough, and that the changes could tarnish the local industry. Holden reintroduced its defunct Statesman title in 1990—this time under

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4494-576: The Australian economy and see GM Holden continue making cars in Australia until at least 2022. In mid-2013, Holden sought a further A$ 265 million, in addition to the A$ 275 ;million that was already committed by the Federal, South Australian and Victorian governments to remain viable as a car manufacturer in Australia. A source close to Holden informed the Australian news publication that

4601-407: The Australian government outlining the production of the first Australian-designed car. Ford's proposal was the government's first choice, but required substantial financial assistance. GM's study was ultimately chosen because of its low level of government intervention. After the war, Holden returned to producing vehicle bodies, this time for Buick, Chevrolet, Pontiac, and Vauxhall. The Oldsmobile Ace

4708-770: The Camira model, and to export markets - primarily to GM's plants in Europe for installation in Opel/Vauxhall vehicles. While GM Australia's commercial vehicle range had originally been mostly based on Bedford products, these had gradually been replaced by Isuzu products as the Bedford brand was being retired in Britain. This process began in the 1970s and by 1982 Holden's commercial vehicle arm no longer offered any Bedford products. The new Holden WB commercial vehicles and

4815-607: The Commodore's recovery strategy involved the 1988 VN , a significantly wider model powered by the American-designed, Australian-assembled 3.8-litre Buick V6 engine . Holden began to sell the subcompact Suzuki Swift -based Barina in 1985. The Barina was launched concurrently with the Suzuki -sourced Holden Drover , followed by the Scurry later on in 1985. In the previous year, Nissan Pulsar hatchbacks were rebadged as

4922-739: The Dandenong line on 25 October 1962. Following the Chevrolet V8 fitted to the HK, the first Australian-designed and mass-produced V8, the Holden V8 engine debuted in the Hurricane concept of 1969 before fitment to facelifted HT model . This was available in two capacities: 253 and 308 cubic inches (4.1 and 5.0 L). Late in HT production, use of the new Tri-Matic automatic transmission, first seen in

5029-635: The Elizabeth plant was shut down. Holden produced nearly 7.7 million vehicles. On 17 February 2020, General Motors announced that the Holden marque would be retired by 2021. On 30 October 2020, the GM Australia Design Studio at Fishermans Bend was shut down. Holden has been replaced by GM Specialty Vehicles (GMSV), which imports the Chevrolet Silverado and the Chevrolet Corvette . The parts supplier known as

5136-560: The Ford Falcon. Sales in other segments also suffered when competition from Ford intensified, and other Australian manufacturers: Mitsubishi , Nissan and Toyota gained market share. When released in 1982, the Camira initially generated good sales, which later declined because buyers considered the 1.6-litre engine underpowered, and the car's build and ride quality below-average. The Camira lasted just seven years, and contributed to Holden's accumulated losses of over A$ 500 million by

5243-484: The Holden Trade Club was renamed GM Trade Parts. An extensive Holden service network continues to help maintain the many Holdens that remain in operation in Australia. In 1852 James Alexander Holden emigrated to South Australia from Walsall , Staffordshire, U.K, and in 1856 established J. A. Holden & Co. , a saddlery business in Adelaide . In 1879 J. A. Holden's eldest son Henry James Holden , became

5350-608: The Holden marque, as the Statesman and Caprice . For 1991, Holden updated the Statesman and Caprice with a range of improvements, including the introduction of four-wheel anti-lock brakes (ABS); although, a rear-wheel system had been standard on the Statesman Caprice from March 1976. ABS was added to the short-wheelbase Commodore range in 1992. Another returning variant was the full-size utility, and on this occasion it

5457-431: The Kingswood sedan, station wagon, and utility body styles to Indonesia, Trinidad and Tobago, Pakistan, the Philippines, and South Africa in complete knock-down form. Holden launched the new HQ series in 1971. At this time, the company was producing all of its passenger cars in Australia, and every model was of Australian design; however, by the end of the decade, Holden was producing cars based on overseas designs. The HQ

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5564-418: The LC Torana was phased in as Powerglide stock was exhausted, but Holden's official line was that the HG of 1971 was the first full-sized Holden to receive it. Despite the arrival of serious competitors—namely, the Ford Falcon, Chrysler Valiant , and Japanese cars—in the 1960s, Holden's locally produced large six- and eight-cylinder cars remained Australia's top-selling vehicles. Sales were boosted by exporting

5671-418: The Torana achieved legendary racing success in Australia, achieving victories at the Mount Panorama Circuit in Bathurst, New South Wales. In 1975, Holden introduced the compact Gemini , the Australian version of the " T-car ", based on the Opel Kadett C. The Gemini was an overseas design developed jointly with Isuzu, GM's Japanese affiliate; and was powered by a 1.6-litre four-cylinder engine. Fast becoming

5778-450: The Toyota-sourced Holden Nova and Apollo. This came after the 1994 introduction of the Opel Corsa replacing the already available Suzuki Swift as the source for the Holden Barina. Sales of the full-size Holden Suburban SUV sourced from Chevrolet commenced in 1998—lasting until 2001. Also in 1998, local assembly of the Vectra began at Elizabeth, South Australia. These cars were exported to Japan and Southeast Asia with Opel badges. However,

5885-497: The Vectra did not achieve sufficient sales in Australia to justify local assembly, and reverted to being fully imported in 2000. In the 1990s, Holden's share of the Australian market surged and peaked at 27.5 percent in 2000 before declining to 15.2 percent in 2006. From March 2003, Holden no longer held the number one sales position in Australia, losing ground to Toyota. Commodore sales had peaked in 1998 at 94 642 vehicles and were relatively stable up to 2004 before going into

5992-437: The basic fleet model , the Standard , became the Belmont. On 3 March 1969, Alexander Rhea , managing director of General Motors-Holden's at the time, was joined by press photographers and the Federal Minister of Shipping and Transport, Ian Sinclair as the two men drove the two-millionth Holden, an HK Brougham, off the production line. This came just over half a decade since the one-millionth car, an EJ Premier sedan, rolled off

6099-484: The body, and painted and trimmed it. The company began to produce complete motorcycle sidecar bodies after 1913. After 1917, wartime trade restrictions led the company to start full-scale production of vehicle body shells. H. J. Holden founded a new company in late 1917, and registered Holden's Motor Body Builders Ltd (HMBB) on 25 February 1919, specialising in car bodies and using the former F. T. Hack & Co facility at 400 King William Street in Adelaide before erecting

6206-402: The car company is losing money on every vehicle that it produces and consequently initiated negotiations to reduce employee wages by up to A$ 200 per week to cut costs, following the announcement of 400 job cuts and an assembly line reduction of 65 (400 to 335) cars per day. From 2001 to 2012, Holden received over A$ 150 million a year in subsidy from Australian government. The subsidy from 2007

6313-406: The company in 2002 as a representative of GM. This was increased to 50.9 percent in 2005, but when GM further increased its stake to 70.1 percent around the time of its 2009 Chapter 11 reorganisation , Holden's interest was relinquished and transferred to another (undisclosed) part of GM. The commencement of the Holden-branded Daewoo models began with the 2005 Holden Barina, which based on

6420-442: The compromises resulting from the adoption of a design intended for another market hampered the car's acceptance. In particular, it was narrower than its predecessor and its Falcon rival, making it less comfortable for three rear-seat passengers. With the abandonment of left-hand drive markets, Holden exported almost 100,000 Commodores to markets such as New Zealand, Thailand, Hong Kong, Malaysia, Indonesia, Malta and Singapore. During

6527-446: The country under Holden management. In the postwar period, this decentralisation was slowly reduced and, by 1989, the consolidation of final assembly at Elizabeth in South Australia was largely completed, except for some operations that continued at Dandenong until 1994. Engine manufacturing was consolidated at Fishermans Bend , which was expanded to supply markets overseas. Although Holden's involvement in exports had fluctuated from

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6634-401: The development days, the six-cylinder Torana was reserved for motor racing, but research had shown a business case existed for such a model. The LC Torana was the first application of Holden's new three-speed Tri-Matic automatic transmission. This was the result of Holden's A$ 16.5 million transformation of the Woodville, South Australia, factory for its production. Holden's association with

6741-426: The early 1990s. The plants had belonged to General Motors from 1926 until 1990 in an earlier and quite separate operation from GM's Holden operations in Australia. Holden's production became increasingly concentrated in South Australia and Victoria after World War II . However, Holden had factories in all five mainland states of Australia when GM took over in 1931, due to the combining of Holden and GM factories around

6848-406: The end of 2017. As a result, 2,900 jobs would be lost over four years. Beyond 2017 Holden's Australian presence would consist of a national sales company, a parts distribution centre and a global design studio. In May 2014, GM reversed their decision to abandon the Lang Lang Proving Ground and decided to keep it as part of its engineering capability in Australia. In 2015, Holden again began selling

6955-490: The firm, largely through the use of public relations , a then novel form of business communication which was imported to Australia through the formation of General Motors (Australia) Limited. Throughout the 1920s, Holden also supplied 60 W-class tramcar bodies to the Melbourne & Metropolitan Tramways Board , of which several examples have been preserved in both Australia and New Zealand. Holden's second full-scale car factory, located in Fishermans Bend ( Port Melbourne ),

7062-453: The first-tier subsidiary directly) or indirect (e.g., an ultimate parent company controls second and lower tiers of subsidiaries indirectly, through first-tier subsidiaries). Recital 31 of Directive 2013/34/EU stipulates that control should be based on holding a majority of voting rights, but control may also exist where there are agreements with fellow shareholders or members. In certain circumstances, control may be effectively exercised where

7169-445: The front end of the FJ, which received various other trim and minor mechanical revisions. In 1954, Holden began exporting the FJ to New Zealand. Although little changed from the 48–215, marketing campaigns and price cuts kept FJ sales steady until a completely redesigned model was launched. At the 2005 Australian International Motor Show in Sydney, Holden paid homage to the FJ with the Efijy concept car . Commercial success underpinned

7276-427: The introduction of the HJ , heralding new front-panel styling and a revised rear fascia. This new bodywork was to remain, albeit with minor upgrades, through the HX and HZ series. Detuned engines adhering to government emission standards were brought in with the HX series, whilst the HZ brought considerably improved road handling and comfort with the introduction of radial-tuned suspension. As a result of GM's toying with

7383-471: The larger mid-sized LH series released in 1974, offered only as a four-door sedan. The LH Torana was one of the few cars worldwide engineered to accommodate four-, six-, and eight-cylinder engines. This trend continued until Holden introduced the Sunbird in 1976, essentially the four-cylinder Torana with a new name. Designated LX, both the Sunbird and Torana introduced a three-door hatchback variant. A final UC update appeared in 1978. During its production run,

7490-472: The larger, more sophisticated Commodore. The closest successor to the Torana was the Camira , released in 1982 as Australia's version of GM's medium-sized " J-car ". The 1980s were challenging for Holden and the Australian automotive industry. The Australian Government tried to revive the industry with the Button car plan , which encouraged car makers to focus on producing fewer models at higher, more economical volumes, and to export cars. The decade opened with

7597-400: The life of the VL. The decision to opt for a Japanese-made transmission led to the closure of the Woodville, South Australia assembly plant. Emboldened by the apparent sign of turnaround, GM paid off Holden's mounted losses of A$ 780 million on 19 December 1986. At GM headquarters' request, Holden was then reorganised and recapitalised, separating the engine and car manufacturing divisions in

7704-616: The manufacture of Chevrolets and Pontiacs ended in 1968, coinciding with the year of Holden's next major new model, the HK . This included Holden's first V8 engine , a Chevrolet engine imported from Canada. Models based on the HK series included an extended-length prestige model, the Brougham ; and a two-door coupé , the Monaro . The mainstream Holden Special was rebranded the Kingswood , and

7811-555: The marketplace, but such arrangements happen frequently at the end of a hostile takeover or voluntary merger. Also, because a parent company and a subsidiary are separate entities, it is entirely possible for one of them to be involved in legal proceedings, bankruptcy, tax delinquency, indictment or under investigation while the other is not. In descriptions of larger corporate structures, the terms "first-tier subsidiary", "second-tier subsidiary", "third-tier subsidiary", etc. describe multiple levels of subsidiaries. A first-tier subsidiary

7918-452: The matter. The engine change was necessitated by the legal requirement that all new cars sold in Australia after 1986 had to consume unleaded petrol. Because it was unfeasible to convert the existing six-cylinder engine to run on unleaded fuel, the Nissan engine was chosen as the best engine available. However, changing currency exchange rates doubled the cost of the engine and transmission over

8025-632: The mid-1980s. In 1984, Holden introduced the VK Commodore , with significant styling changes from the previous VH . The Commodore was next updated in 1986 as the VL , which had new front and rear styling. Controversially, the VL was powered by the 3.0-litre Nissan RB30 six-cylinder engine and had a Nissan-built, electronically controlled four-speed automatic transmission. Holden even went to court in 1984 to stop local motoring magazine Wheels from reporting on

8132-496: The new Falcon in Australia, only months after its introduction in the United States. To Holden's advantage, the Falcon was not durable, particularly in the front suspension, making it ill-suited for Australian conditions. In response to the Falcon, Holden introduced the facelifted EK series in 1961; the new model featured two-tone paintwork and optional Hydramatic automatic transmission. A restyled EJ series came in 1962, debuting

8239-471: The new luxury oriented Premier model. The EH update came a year later, bringing the new Red motor , providing better performance than the previous Grey motor . The HD series of 1965 had the introduction of the Powerglide automatic transmission. At the same time, an "X2" performance option with a more powerful version of the 179-cubic-inch (2.9 L) six-cylinder engine was made available. In 1966,

8346-623: The older son, and James was urged by George Fife Angas to forge a new life in the new colony of South Australia . But first he sailed to America, where he was hospitably received by his mother's sister, then after a few years reached Adelaide , arriving in 1852, just as half the male population of South Australia was trying its luck in the goldfields of the neighbouring colony of Victoria . He found rented accommodation, and employment with chemist F. H. Faulding . In 1853 his cousin Edwin Thomas Smith emigrated to South Australia aboard

8453-482: The other "subsidiary undertaking". According to s.1159 of the Act, a company is a "subsidiary" of another company, its "holding company", if that other company: The second definition is broader. According to s.1162 of the Companies Act 2006, an undertaking is a parent undertaking in relation to another undertaking, a subsidiary undertaking, if: An undertaking is also a parent undertaking in relation to another undertaking,

8560-408: The outcome of a A$ 600 million development programme that spanned more than five years. The new model featured a rounded exterior body shell, improved handling and many firsts for an Australian-built car. Also, a stronger body structure increased crash safety. The locally produced Buick-sourced V6 engine powered the Commodore range, as did the 5.0-litre Holden V8 engine, and was replaced in 1999 by

8667-471: The parent holds a minority or none of the shares in the subsidiary. According to Article 22 of the directive 2013/34/EU an undertaking is a parent if it: Additionally, control may arise when: Under the international accounting standards adopted by the EU a company is deemed to control another company only if it has all the following: A subsidiary can have only one parent; otherwise, the subsidiary is, in fact,

8774-407: The premises at 100 Grenfell Street until they were once again solvent, and the building was purchased by Harris, Scarfe & Co. in 1923. J. A. Holden died somewhat less than two years later, of tuberculosis complicated by alcohol abuse. Frost died in 1909, and Henry James Holden purchased Frost's equity in the business from his estate, becoming sole proprietor. He was one of the founders of

8881-490: The process. This involved the splitting of Holden into Holden's Motor Company (HMC) and Holden's Engine Company (HEC). For the most part, car bodies were now manufactured at Elizabeth, with engines as before, confined to the Fishermans Bend plant in Port Melbourne, Victoria. The engine manufacturing business was successful, building four-cylinder Family II engines for use in cars built overseas. The final phase of

8988-628: The production line's closure in 2016. Holden's ultimate survival, though, depended on continued negotiations with the Federal Government—to secure funding for the period from 2016 to 2022—and the final decision of the global headquarters in Detroit, US. Following an unsuccessful attempt to secure the extra funding required from the new Liberal/National coalition government, on 11 December 2013, General Motors announced that Holden would cease engine and vehicle manufacturing operations in Australia by

9095-430: The purposes of taxation , regulation and liability . For this reason, they differ from divisions which are businesses fully integrated within the main company, and not legally or otherwise distinct from it. In other words, a subsidiary can sue and be sued separately from its parent and its obligations will not normally be the obligations of its parent. However, creditors of an insolvent subsidiary may be able to obtain

9202-504: The resettling to the new Holden headquarters on 191 Salmon Street, Port Melbourne, Victoria. Holden caused controversy in 2005 with their Holden Employee Pricing television advertisement, which ran from October to December 2005. The campaign publicised, "for the first time ever, all Australians can enjoy the financial benefit of Holden Employee Pricing". However, this did not include a discounted dealer delivery fee and savings on factory fitted options and accessories that employees received. At

9309-456: The retail arm of the company, which in November 1885 became Holden & Frost . In 1886 J. A. Holden was declared insolvent. He put the wholesale arm of the business on the open market as well as the Grenfell Street warehouse. He put his Kensington Park house and grounds on the market for urgent sale. Under the terms of the voluntary liquidation, Holden & Frost continued to operate from

9416-521: The rise of Holden as a cultural icon, as the Holden car became synonymous with the 'Australian way of life', coming to symbolise the stability of post-war Australian capitalism. Holden's next model, the FE , launched in 1956, offered in a new station wagon body style dubbed "Station Sedan" in the company's sales literature. In the same year, Holden commenced exports to Malaya , Thailand, and North Borneo . Strong sales continued in Australia, and Holden achieved

9523-584: The same time, employees were given a further discount of 25 to 29 percent on selected models. Holden revived the Monaro coupe in 2001. Based on the Commodore VX architecture, the coupe attracted worldwide attention after being shown as a concept car at Australian auto shows. The VX Commodore received its first major update in 2002 with the VY series. A mildly facelifted VZ model launched in 2004, introducing

9630-649: The shut-down of the Pagewood, New South Wales production plant and introduction of the light commercial Rodeo , sourced from Isuzu in Japan. The Rodeo was available in both two- and four-wheel drive chassis cab models with a choice of petrol and diesel powerplants. The range was updated in 1988 with the TF series, based on the Isuzu TF . Other cars sourced from Isuzu during the 1980s were the four-wheel drive Jackaroo (1981),

9737-743: The states of South Australia and Victoria . The 164-year-old company ceased trading at the end of 2020. Holden's primary products were its own models developed in-house, such as the Holden Commodore , Holden Caprice , and the Holden Ute . However, Holden had also offered badge-engineered models under sharing arrangements with Nissan , Suzuki , Toyota , Isuzu , and then GM subsidiaries Opel , Vauxhall and Chevrolet . The vehicle lineup had included models from GM Korea , GM Thailand, and GM North America. Holden had also distributed GM's German Opel marque in Australia in 2012 and 2013. Holden

9844-674: The still independent Woodville plant built bodies for Austin, Chrysler , DeSoto , Morris , Hillman , Humber , Hupmobile , and Willys-Overland , as well as GM cars. The last of this line of business was the assembly of Hillman Minx sedans in 1948. The Great Depression led to a substantial downturn in production by Holden, from 34,000 units annually in 1930 to just 1,651 units one year later. In 1931, GM purchased HMBB and merged it with General Motors (Australia) Pty Ltd to form General Motors-Holden's Ltd (GM-H). Its acquisition of Holden allowed General Motors to inherit an Australian identity, which it used to cultivate nationalist appeal for

9951-495: The strong Australian dollar and the cost of reducing the workforce at the Elizabeth plant, including the loss of 1,400 jobs after the closure of the third-shift assembly line in 2005, after two years in operation. Holden fared better in 2007, posting an A$ 6 million loss. This was followed by an A$ 70.2 million loss in the 2008, an A$ 210.6 million loss in 2009, and a profit of A$ 112 million in 2010. On 18 May 2005, "Holden Ltd" became "GM Holden Ltd", coinciding with

10058-460: The subsidiary, and so exercise control. This gives rise to the common presumption that 50% plus one share is enough to create a subsidiary. There are, however, other ways that control can come about, and the exact rules both as to what control is needed, and how it is achieved, can be complex (see below). A subsidiary may itself have subsidiaries, and these, in turn, may have subsidiaries of their own. A parent and all its subsidiaries together are called

10165-469: The time it was introduced, many considered the appearance dated. Much of the motoring industry at the time noted that the adopted style did not translate well to the more compact Holden. The FB became the first Holden that was adapted for left-hand drive markets, enhancing its export potential, and as such was exported to New Caledonia, New Hebrides , the Philippines, and Hawaii. In 1960, Ford unveiled

10272-421: The younger son of Edward Holden, saddler and hardware merchant, and his American wife Elizabeth, née Mason. Their elder son was Edward Thomas Holden , later Sir Edward, industrialist and, briefly, Liberal MP for Walsall . James's mother died when he was quite young, and something like enmity developed between him and his father's new wife. Then in 1851 his father died, leaving his business to his second wife and

10379-425: Was also produced from 1946 to 1948. From here, Holden continued to pursue the goal of producing an Australian car. This involved compromise with GM, as Holden's managing director, Laurence Hartnett , favoured development of a local design, while GM preferred to see an American design as the basis for "Australia's Own Car". In the end, the design was based on a previously rejected postwar Chevrolet proposal. The Holden

10486-526: Was based on the Commodore. The VN Commodore received a major facelift in 1993 with the VR —compared to the VN, approximately 80 percent of the car model was new. Exterior changes resulted in a smoother overall body and a "twin-kidney" grille—a Commodore styling trait that remained until the 2002 VY model and, as of 2013, remains a permanent staple on HSV variants. Holden introduced the all-new VT Commodore in 1997,

10593-496: Was based on the Holden developed GM Zeta platform , that was earmarked to become a "Global RWD Architecture", until plans were cancelled due to the 2007/08 global financial crisis . Throughout the 1990s, Opel had also been the source of many Holden models. To increase profitability, Holden looked to the South Korean Daewoo brand for replacements after acquiring a 44.6 percent stake—worth US$ 251 million—in

10700-704: Was exporting cars to Africa, the Middle East, Southeast Asia, the Pacific Islands, and the Caribbean. Holden began assembling the compact HA series Vauxhall Viva in 1964. This was superseded by the Holden Torana in 1967, a development of the Viva ending Vauxhall production in Australia. Holden offered the LC, a Torana with new styling, in 1969 with the availability of Holden's six-cylinder engine. In

10807-601: Was founded in 1856 as a saddlery manufacturer in South Australia before moving into the automotive field in 1898. It became a subsidiary of the United States–based General Motors (GM) in 1931, when the company was renamed General Motors-Holden's Ltd . It was renamed Holden Ltd in 1998 and adopted the name GM Holden Ltd in 2005. Holden briefly owned assembly plants in New Zealand during

10914-414: Was launched in 1948, creating long waiting lists extending through 1949 and beyond. The name "Holden" was chosen in honour of Sir Edward Holden, the company's first chairman and grandson of J. A. Holden. Other names considered were "GeM", "Austral", "Melba", "Woomerah", "Boomerang", "Emu", and "Canbra", a phonetic spelling of Canberra . Although officially designated " 48-215 ", the car was marketed simply as

11021-471: Was more than Holden's capital investment of the same period. From 2004, Holden was only able to make a profit in 2010 and 2011. Industry Minister Kim Carr confirmed on 10 July 2013 that talks had been scheduled between the Australian government and Holden. On 13 August 2013, 1,700 employees at the Elizabeth plant in South Australia voted to accept a three-year wage freeze to decrease the chances of

11128-402: Was not marketed as a "Holden", but rather a "Statesman". The HQ framework led to a new generation of two-door Monaros, and despite the introduction of the similar-sized competitors, the HQ range became the top-selling Holden of all time, with 485,650 units sold in three years; 14,558 units were exported and 72,290 CKD kits were constructed. The HQ series was facelifted in 1974 with

11235-491: Was opened on 5 November 1936 by Prime Minister Joseph Lyons , with construction beginning in 1939 on a new plant in Pagewood , New South Wales . However, World War II delayed car production with efforts shifted to the construction of vehicle bodies, field guns, aircraft, and engines. Before the war ended, the Australian government took steps to encourage an Australian automotive industry. Both GM and Ford provided studies to

11342-506: Was shortened to "Holden Ltd". On 26 April 1990, GM's New Zealand subsidiary Holden New Zealand announced that production at the assembly plant based in Trentham would be phased out and vehicles would be imported duty-free—this came after the 1984 closure of the Petone assembly line due to low output volumes. During the 1990s, Holden, other Australian automakers and trade unions pressured

11449-504: Was thoroughly re-engineered, featuring a perimeter frame and semi-monocoque (unibody) construction. Other firsts included an all-coil suspension and an extended wheelbase for station wagons, while the utilities and panel vans retained the traditional coil/leaf suspension configuration. The series included the new prestige Statesman brand, which also had a longer wheelbase, replacing the Brougham. The Statesman remains noteworthy because it

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