Holden was known to post its successive yearly profit in 2016 financial year. There was a total after-tax profit of $152.8 million for 2016 from total revenue of $3.6 billion. This follows the $128 million combined profit in the year 2015 and losses in three versions in the previous three years that lead to GM’s decision of killing the local manufacturing arm of the company. Holden $130 million windfall through the selling of Port Melbourne engine factory has no bearing on the figures of 2016 as the settlement date has not occurred yet.
Increase in sales volume consistently in every quarter
The greater relevance was the $27 million profit that the company made from the national sales company operations as opposed to the manufacturing arm. Holden sold a total of 95,000 vehicles approximately in 2016, thus giving Holden a total market share of 8%. Such sales were down for about 8% and it finished fourth in the market behind Toyota, Mazda, and the likes of Hyundai. It also exported 4191 caprices and Commodores in New Zealand, the Middle East and North America. According to Mark Bernhard, Holden 2016’s financial figures and results show Holden’s viability as a full-time vehicle importer and for sales operation.
Profits continue to build for the second successive year
For the second straight year, Holden has recorded solid profits through national sales company operations. This has shown the real highlights of strong profitability on long-term business plans. They have had consistent positive financial results as the health of business continues to flourish. Thus now, there is only a need to keep a real focus on growing sales, brand re-building, and prioritising customers. The fundamentals of the business should be taken care of and thus, the rest will take care of itself.
Record sales and huge return on investment
The figure shows it all as the company invested a total of $69.1 million and paid a combined tax of $188.1 million. It is projected that Holden will retain a significant presence in Australia. port Melbourne headquarters will continue to employ more staff with a combination of international design space, technical and engineering teams in place, national parts and a distribution centre and the Lang Lang vehicle proving ground.
Employees are Holden’s priority
Holden has been profitable consistently on imported vehicle range while we are losing money on manufacturing. They have been also taking care of their employees as over $600 million in off charges that are related to manufacturing for asset impairments in employee entitlements. Our priority is our people.
Sell old Holden Car to us and get order a new one.