"Unfortunately, one of the issues is, an awful lot of the people that have been barracking for the Holden brand over the last 10 years or so haven't actually been buying the product," Dane said.
"For whatever reason. It's a fact of life that people have been turning up to watch the races in other brands and one we're all very aware of.
The bombshell decision has left Dane seeking urgent meetings with Holden bosses to work out his team's future.
Red Bull Holden Racing Team drivers Shane van Gisbergen and co driver Garth Tander. Photo / Photosport
When asked on Tuesday if the Commodore could continue in Supercars after Holden's retirement, Dane replied: "Conceivably, because the homologation as it were from Supercars will be valid for several more years.
"If you remember with the Falcon, even when they stopped the production of the car [in 2016] and its availability to the public, it carried on racing for several years.
"The ongoing situation at the moment, I'm meeting with GM this week and we'll discuss what happens. Until then, there's nothing more to be said, really."
Dane admitted the timing of the Holden announcement was surprising, with the Supercars season starting in Adelaide this weekend.
"The timing of this was definitely a surprise," he said.
"Obviously, as someone who's very aware of the motoring industry on a larger platform on a world basis, the lack of right-hand drives [in Australia] going ahead was a concern. Some new models were in the pipeline, which gave us reassurance.
"It is what it is. We're a very small market in Australia, competing for attention against much bigger markets. The decisions that affect the car industry on a wider basis are not made in Australia, they're made in Japan or Detroit or Germany."
Dane – who has overseen eight drivers' titles, nine teams' titles and seven Bathurst 1000 wins during his time as Briggs Motor Sport boss – said his current drivers, Jamie Whincup and Shane van Gisbergen, are "aware" of the situation but are focused on the season ahead.
