KEY POINTS:
GM Holden has decided to delay indefinitely the introduction of the US Cadillac car brand to New Zealand and Australia because of the global economic downturn.
Sales of the Cadillac CTS, a luxury sedan, were scheduled to begin late this year in New Zealand and even earlier across the Tasman.
But Holden said yesterday the introduction of the brand had been put on hold because of the downturn in the car market.
"It was a tough call but we really only had one chance to launch the brand here in Australia," Holden chairman and managing director Mark Reuss said.
"We aren't able to do the brand justice here in a tough market."
Reuss said the company had to focus on Holden's core business including the introduction of a new small car to be built in Adelaide from 2010.
Reuss said
the decision would not result in the loss of any jobs.
- AAP
