GM Holden to Stop Auto Manufacturing in Australia in 2017
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General Motors Co.’s Holden unit, Australia’s largest carmaker, said it would shutter production lines in 2017 after 69 years, joining Ford Motor Co. in exiting an economy struggling with high costs and a strong currency.
About 2,900 employees will lose their jobs at the automaker’s plants in South Australia and Victoria, according to a statement released hours after GM said Dan Akerson will step down as chief executive officer.