Now that VE development and launch costs have been met, profit should be just around the next corner. Photo / GM
Now that VE development and launch costs have been met, profit should be just around the next corner. Photo / GM
KEY POINTS:
GM Holden has turned a corner with its "billion dollar baby" VE Commodore - but that success hasn't translated to profits, with a $146.56 million ($NZ163.76 million) loss for the 2006 calendar year.
It lost a similar amount, $144.6 million, the previous year.
The company says launch costsof the VE, as well as new Statesman and Caprice models, while the 2005 loss was attributed to development costs of the new model Commodore.
Heavy discounting during the lengthy runout process of the previous Commodore model is also believed to have had a negative effect.
