General Motors has chose to pull out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments, raising dismay Monday from officials concerned over job losses.
"I've often said that we will do the right thing, even when it's hard, and this is one of those times", Ms Barra said.
In a statement, GM says the brand is no longer competitive in the current market. This means all Holden and New Zealand operations, including engineering, design and financial services, will be closed down.
With 1.6 million Holden cars still on the roads, about 200 people are expected to be kept on staff to carry out that work.
Years earlier, GM's bankruptcy and bailout in the USA tanked investment in future products, and the fallout from the global financial crisis saw demand for new cars evaporate - especially the fun, fast and flipping massive variety that Holden was selling.
GM President Mark Reuss said the company had explored ways to keep the Holden brand but had decided that it would cost too much to remain in the "highly fragmented right-hand-drive market".
GENERAL Motors says it is pulling out of Australia, New Zealand and Thailand as part of a strategy to exit markets that do not produce adequate returns on investments.
As for the impact on the industry, it's understood around 500-600 employees will be directly affected by the total shut down of the Holden brand.
In 1931, GM bought Holden and merged the firm with its Australian arm.
That nearly certainly means the Chevrolet Corvette will no longer be factory-made in right-hand-drive, but Murphy believes that won't stop the vehicle coming here anyway, even as a left-hand drive product.
New vehicle registration data collected by the Motor Industry Association showed Holden was the fourth best-selling brand of 2019, recording 12,026 registrations or 8% of the market.
Holden Enthusiasts Club of Otago committee member Daniel Cresswell said Holden-lovers across New Zealand and Australia were in mourning. After the Second World War, the Australian government pushed an initiative to develop an Australian-designed and built auto, with the resulting vehicle - simply called the Holden - launching in 1948.
"Impacted Holden employees will be provided separation packages and employment transition support".
READ NEXT: Why did Australia fall out of love with Holden? "Local operations will also continue to handle all recall and any safety-related issues, working with the appropriate governmental agencies", reads the statement.