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GM To Wind Down Holden's Operations In Australia, New Zealand

General Motors will retire the Australian car brand Holden. The move will end 160 years of the Holden name's association with Australia.

The announcement comes as GM is accelerating its exit from unprofitable markets as it focuses on the US, China, Latin America and South Korea.

The company said it will wind down Holden sales, design and engineering operations in Australia and New Zealand by next year.

"After comprehensive assessment, we regret that we could not prioritize the investment required for Holden to be successful for the long term in Australia and New Zealand, over all other considerations we have globally," said GM International Operations Senior Vice President Julian Blissett.

The company will also shutter Maven and Holden Financial Services operations in Australia.

GM reportedly said China's Great Wall Motors had agreed to buy its manufacturing plant in Thailand.

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