AP Eagers (ASX:APE) await further details on Holden wind down

Company News

by Rachael Jones

AP Eagers (ASX:APE) reported yesterday that as a partner of General Motors they are sad the company has decided to wind down Holden vehicle sales in Australia and New Zealand by 2021.

They will maintain Holden service outlets to support existing Holden customers with warranty claims, spare parts, servicing and recalls for ten years.

AP Eagers (ASX:APE) has been with Holden for ninety years having commenced operations in 1930, eighteen years prior to Holden’s launch in this country.

It will not be possible for AP Eagers to assess the financial impact of these arrangements on our company, if any, until we have received further details from General Motors.

Shares in A.P. Eagers (ASX:APE) closed 1.53 per cent lower at $9.00 yesterday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.