Tuesday, 17 December 2013

Holden Closure Blamed on Dodgy Accounting

General Motors Holden is set to close its Australian car production arm after dramatically underestimating the number of cars it had sold.

It is understood Holden executives used a method that counted vehicle production and sales only once cars were on the road. It is believed trained car counters stood on major freeway overpasses tallying the number of Holden badges they saw. This method is not used anywhere else in the automotive world with Holden accounting officer Marcus Carmaker describing this method as a "uniquely Australian innovation".

This alleged disparity between the number of cars actually produced and sold and the number of cars recorded sold is believed to have occurred when Holden's actuaries did not include Commodores that had had their Holden badges removed and replaced with Chevrolet ones.

"We're very embarrassed that our biggest fans have actually killed Holden in Australia," Mr. Carmaker said. But even with the forecast 2017 plant closure Mr Carmaker remains upbeat, "I plan on buying up every surplus Holden badge in existence so I can rebadge the 2018 Chevrolet Impala as a Holden."

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