December 22^nd, 1999                                          

Finishing `99 on the right note;
Record production, expanding exports, market leadership…

The final year of the millennium will be recorded as one of Holden’s most successful ever. Major highlights will include Commodore consolidating its position as Australia’s best selling car for the fourth consecutive year, record production figures and an expanding export program.

November year-to-date sales for 1999 place Holden 3,000 units ahead of its closest competitor, a result underpinned by continued strong demand for the best-selling VT Commodore range and an increase in four-cylinder and light commercial vehicle sales. It is the first time since 1981 that Holden has entered December as year-to-date total market leader.

In a year that saw the Commodore nameplate celebrate its 21^st anniversary, the VT Commodore outsold the Falcon for the 27^th consecutive month (November year to date), and is on the way to becoming the biggest-selling Commodore ever.

1999 will also be a record-breaking year for Holden’s vehicle manufacturing facility in Elizabeth, S.A., which has already eclipsed last year’s record production of 120,327 cars.

The Series II VT Commodore, introduced in June, featured an all-new powerplant - the Generation III (GEN III) 5.7 litre alloy V8 - developed in the U.S. by General Motors Powertrain Group at a project cost of US$1 billion. The fuel efficient 220kW engine replaced Holden’s venerable V8, the last of which came off the Fishermens Bend production line in June following 30 years of production. The popular ‘bent eight’ was available from when the HT Holden hit the streets in 1969.

Holden’s all-new WH Statesman and Caprice long wheelbase luxury vehicles also made their debut in 1999. Introducing a totally new exterior design and benchmark interior luxury matched with significant safety and engineering advancements, they were developed to meet the demands and expectations of Australian and international buyers. Recently, the NRMA and RACV voted the Supercharged V6 Statesman the Best Luxury Car Under $56,000.

Other Holden models to gain industry recognition in 1999 included the VT Commodore, being voted Best Family Car, and the Holden Astra, Best Small Car, in the RACQ/Courier Mail QCAR and RACT Best Car awards.

Holden’s $1 billion export program moved up a gear when General Motors dealers in the Middle East took delivery of the first shipments of left-hand-drive versions of the WH Statesman/Caprice models, which are sold there under the Chevrolet Caprice nameplate. These are expected to attract even more buyers than the Chevrolet Lumina-badged VT Commodore, which has already established itself as the Middle East’s top-selling GM model.

In another export initiative, Holden reached a milestone in July when its three millionth export engine came off the production line and was packed for shipment to Germany. Tim Fischer, MP joined employees, suppliers and guests at Holden’s Fishermens Bend (Vic.) engine manufacturing facility in a ceremony to mark the occasion.

Highlighting its role as Team Millennium Olympic Partner for the Sydney 2000 Olympic Games, Holden released four Olympic edition models in 1999. The well-specified variants included Commodore, Vectra, Astra and Barina models, all offering extra value features.

The Series II Holden Vectra, which featured a number of design, performance and suspension enhancements, was released in August.

Enthusiasts Australia-wide applauded when Holden confirmed that its exciting Coupe design concept car would become a production reality, with an expected market release date of 2001.

Other notable highlights of 1999 included Mr Peter Hanenberger being named Holden’s new Chairman and Managing Director in June - his predecessor, Jim Wiemels, taking up the position of GM Europe Vice President of Manufacturing.

Amid a toughening automotive market environment, Holden announced a net income of $166.1 million for the year ended 31 December 1998 despite challenging economic conditions and a strongly competitive environment.

In motorsport, Holden continued to dominate, winning the Australian Touring Car Championship (ATCC) and the prestigious Bathurst 1000 endurance title. Holden Racing Team’s Craig Lowndes took the ATCC series title after a consistent year’s racing. Fellow Commodore drivers, Greg Murphy and Steven Richards, won Bathurst ahead of Lowndes and Cameron McConville, with HRT team mates Mark Skaife and Paul Morris finishing third for a Holden 1-2-3 whitewash.