The return of the Holden Commodore to the North American showroom market has been officially confirmed, with the Australian-built large car to transform into a Chevrolet SS in late 2013.
The Chevrolet SS performance sedan will be based on the next-generation Holden VF Commodore that will go on sale in Australia in 2013, at some point before the US version reaches showrooms.
It will be the first time in 17 years that Chevrolet has offered a rear-wheel-drive performance car in the North American market. It's almost definite it will get a V8 engine.
Holden is not yet willing to divulge exact export numbers but has admitted it will be less than the previous Commodore export program of 2008. A 30,000 annual volume was planned for a Pontiac G8 model that was a rebadged version of the current VE model, before the program came to a premature end in early 2009 after General Motors axed the Pontiac brand.
CarAdvice understands the export program involves a few thousand units(~5000), though Holden does describe the Chevrolet SS as a "limited production derivative".
"This is a real niche opportunity for us, and we'll leave it at that," said Greg Tyus, Holden's executive director of engineering. "We know what we're projecting [for Chevrolet SS numbers] and that we can meet that [demand]."
The Chevrolet SS will become the latest model to be based on the Commodore's 'Zeta' platform, which underpins the current Commodore that was introduced in 2006 and will be slightly modified for the new VF generation.
It follows the aforementioned Pontiac G8, the Chevrolet Camaro muscle car and a police car called the Chevrolet Caprice PPV.
The Chevrolet Caprice PPV (pictured below) has struggled to gain traction with police forces in the US, but Holden says it expects US consumers to embrace the new Chevrolet SS.
"I think the US has come to know us [Holden]," says Tyus. "We're respected for the Camaro, which is well beloved, and we're known for rear-wheel-drive performance sedans.
"I think the Chevrolet SS and Chevrolet PPV are two different models. This is a premium, high-spec vehicle. The PPV is more for jurisdiction and they [the police forces] have to look at budget.
"We understood it would take time [for the PPV to penetrate the police car market]. They are quite loyal to the current vehicles.
"If you look at the interest generated by the [Pontiac] G8, it is clear there is a clambering for this type of vehicle [in the US]. And we were given an opportunity to provide a car [Chevrolet] needed.
"Only time will tell if this [export program] will grow into something bigger."
Holden also confirmed expectations that the Chevrolet SS will form the basis for the US brand's new NASCAR race car challenger - pictured below the main image top in prototype disguise.
Chevrolet's March announcement that it would feature a new nameplate in its world-famous homegrown motorsport series first started speculation linking the Commodore to a US return.
Holden said discussions with Chevrolet were currently focused on the sedan version of the Commodore only, but would neither confirm nor deny whether the four-door could be joined by wagon and ute variants.
CarAdvice believes, however, that these are unlikely, at least in the short term, despite previous plans for the Commodore Ute to be exported to the US as a Pontiac G8 ST sports truck.
Holden says parent company General Motors wasn't placed under any pressure by the federal government to arrange an export deal as part of a $275 million co-investment package announced in March.
General Motors Holden is committing $1 billion to local manufacturing of two all-new vehicles to at least 2022, though the future of a homegrown Holden large car isn't secure beyond 2018, the expected lifecycle of the new VF model, despite the Chevrolet SS announcement.
Holden has said only that it will build two models locally based on global platforms from 2015 but is not expected to confirm what type of vehicles they will be for some time.
One is certain to be the next-generation Holden Cruze small car, which is currently built alongside the Commodore at the local car maker's Elizabeth plant in Adelaide (above).
Holden seems to be keeping its options open for the second model, however, as the sales trend for large cars continues a dramatic decline in Australia.
Holden Commodore sales fell 12 per cent in 2011, allowing the Mazda3 to end the large car's 15-year run as Australia's best-selling car. Figures for 2012 so far reveal the Commodore has dropped 23 per cent compared to April 2011.
The Holden is faring significantly better than its traditional rival, however, the Ford Falcon - by 10,596 to 4407 so far in 2012.
Investor Warren Buffett buys 10 million shares of GM
Legendary investor Warren Buffett's Berkshire Hathaway disclosed today that it had acquired 10 million shares of General Motors' common stock.
Berkshire Hathaway purchased 10 million shares for a total investment of $256.6 million. Those shares were worth $214.2 million when the market closed today.
It was not immediately clear whether Buffett himself was involved in the investment, or whether it was made by one of his associates.
Buffett is known for making big bets on companies he views as undervalued, although the GM investment would be on the smaller side for the Nebraskan investor nicknamed the "Oracle of Omaha."
"It confirms the investment thesis that we've had on GM," Morningstar analyst Richard Hilgert said. "We definitely see some value there, just as Mr. Buffett does, and hopefully this will draw a little more attention to the stock from investors."
GM's stock, which fell less than 1% today to close at $21.42, rose nearly 4% in after-hours trading.
GM spokesman Jim Cain declined to comment, saying the automaker typically does not discuss specific investors.
GM shares were priced at $33 during the company's initial public offering in November 2010.
UBS Investment Bank analyst Colin Langan said in a research note Monday that he still recommends buying GM shares with a price target of $30.
A Berkshire spokeswoman was not immediately available to comment.
Holden export announcement imminent
Holden is expected to confirm "very soon" it will begin exporting thousands of Commodores to the US from 2013.
Holden’s worst kept secret – that it will [URL="http://news.drive.com.au/drive/motor-news/odds-firm-on-commodore-export-program-20120426-1xmem.html"]begin exporting Commodores to the United States next year – is about to be officially confirmed.
Industry insiders have told Drive a major announcement from Holden is expected "very soon", with one outlet predicting an announcement will be made on Friday. The maker is expected to confirm that the Commodore will be exported to the US where it will be sold as a [URL="http://news.drive.com.au/drive/motor-news/holdens-ss-badge-registered-in-us-20120420-1xbdy.html"]Chevrolet SS, or SuperSport.
The export deal is expected to be worth hundreds of millions of dollars and form the basis for a crucial new V8-powered performance model for Chevrolet. It could also expand to involve ute and sportwagon variants.
The major export announcement will be welcome news for Holden executives and politicians who have borne the brunt of criticism of continued government handouts to the car industry, which openly admits it would not survive without such financial assistance.
The new Chevrolet SS Performance - as the exported Commodore is likely to be known - will also form the basis for Chevrolet's Nascar race car from 2013, which is currently undergoing testing and is expected to be revealed later this year.
Chevrolet is keen to better align the model it races in the hugely popular Nascar race series with a performance model it sells on the road; the current Impala that is marketed through Nascar is a volume-selling family vehicle rather than a performance car.
Longer term, recent rumours suggest the Commodore and the Chevrolet equivalent could ultimately be produced in North America and exported back to Australia as part of a major restructure of Holden's local operations as GM shifts its production focus to global vehicles rather than unique models for individual markets.
Tellingly, when recently committing to more than $1 billion of investment in local manufacturing chairman and managing director Mike Devereux shied away from questions about what cars it would produce locally from about 2017, when the soon-to-be-updated VF Commodore is expected to finish.
Holden is also playing its cards super close to its chest, preferring to leave people guessing as to whether or not the Commodore is dead - partly because it likely hasn’t finalised long term details of its local operations.
Holden is believed to have pulled forward the imminent export announcement of the Commodore export program due to numerous leaks and well-informed rumours, including one from GM's own telematics system known as OnStar; its website recently - and briefly - announced a new "2013 SS Performance" model.
Despite being the face of Chevrolet's Nasar challenger, the V8-only Commodore-based model is expected to be relatively low volume - and much fewer than the 50,000-odd Pontiacs predicted as part of the previous Commodore export deal.
The car that will be exported will be based on the new VF Commodore that will get revised front and rear styling, updated engines and a lighter body that utilises more lightweight aluminium.
The Chevrolet version will obviously wear the brand’s bowtie badge and sport mild styling tweaks - as well as having the steering wheel on the left-hand side.
The genesis of the VF Commodore export program is believed to have been put in place by former Holden boss and now chief of General Motors' North American operations, Mark Reuss.
Reuss recently told Drive that large cars have a long term future and were a crucial part of GM's global mix.
Holden is already exporting the longer, more spacious Commodore-based Caprice sedan to the US where it is sold as police and detective cars, known as PPV, or Police Patrol Vehicle.
But sales have been sluggish as police remain loyal to the ageing - and now discontinued - Ford Crown Victoria, with some dealers now selling the police-ready vehicles directly to private buyers as near-new used vehicles.
Between 2007 and 2009 Holden also exported the Commodore to the US where it was sold as a Pontiac G8.
But the program was killed off when the Global Financial Crisis took hold, ultimately leading to GM's bankruptcy and the axing of the once popular Pontiac brand.
Seventy Holden cars with latest automotive technology provided
Twenty-one teams taking part in over 60 road rescue scenarios
Holden has donated 70 cars to the Australasian Road Rescue Organisation (ARRO) to help hone the emergency response skills of hundreds of road rescue workers from around the world taking part in the annual training event.
The vehicles, previously used by Holden for engineering evaluation and not for public sale, include a range of Holden vehicles and body styles such as Commodore, Caprice Cruze and Captiva.
Each vehicle will be used by ARRO to provide crash scenarios for participants in the 2012 Australasian Rescue Challenge in Hobart, from 26 to 29 April 2012.
Teams will take part in simulated emergency situations all designed to improve their emergency response skills including rescue and medical treatment for injured motor vehicle occupants.
Director of Government Relations and Internal Communications, Matt Hobbs said Holden was very proud of its long-term association with ARRO.
"As we all know, refreshing the skills of the road rescue teams with the latest technology is critical. That's why over the last 12 years Holden has donated nearly 1000 vehicles, giving the emergency services access to the most recent models out on the road," Mr Hobbs said.
"We believe that safety on our roads comes down to four factors; safe driving, safe cars, safe roads and the everyday heroes who have been trained to save lives.
"It is the outstanding work of these men and women that goes a long way towards reducing the road toll and it's great for Holden to play a role in their training."
Holden Specialist Engineer, Derek Scott, will also be on hand to give expert advice on the latest vehicle safety systems. He will observe teams participating in crash scenarios to provide valuable feedback to the Holden Safety Engineering group.
Executive Officer of ARRO, Paul Jerome said Holden's involvement was a vital component to the success of the training event.
"Holden's support of this program gives our road rescue teams the valuable opportunity to get real hands on experience using new vehicles with the latest automotive technology. There is no other manufacturer in the world that provides this level of support, with both vehicles and technical expertise," said Mr Jerome.
"The end result means the teams are better equipped with outstanding skills and techniques, which can make the difference at a real life accident scene.
ARRO:
ARRO is the peak body in Australasia for the development and exchange of information, knowledge and skills in road rescue. Its membership includes individuals and organisations in the emergency services such as fire services, state emergency services and ambulance services.
Holden:
The history of Holden dates back to 1856 when it started as a saddlery business in South Australia. Today, Holden is one of only seven fully-integrated global General Motors operations that designs, builds and sells vehicles for Australia and the world.
[LEFT][color=#000000][font=Arial]CARMAKER Holden may be hatching a plan to bring back the legendary Torana.
Wheels magazine says the idea of a new mid-sized, real-wheel-drive that captures the same spirit as its namesake, is germinating deep within the company as Holden contemplates the longer-term outlook for its manufacturing operations.
The magazine says while the company recognises that its future lies with building front-wheel-drive vehicles, it is also conscious of its sporting, rear-drive heritage.
It believes the concept of a new Torana lies in a localised version of a US model, the Chevrolet Code 130R, which was shown as a concept at the Detroit motor show in January.
While not yet approved for production, the Chevrolet is based around the idea of a compact rear-wheel-drive coupe with a four-cylinder, turbocharged engine that could also have enough room under the bonnet to take a V6 or even a V8.
If the car is approved for the US, the chances of it also coming to Australia are good, Wheels says.
The idea also has some support within the company with General Motors executive director of international operations Mike Simcoe enthusiastic about the prospect.
"Would I like to have a compact rear-wheel-drive performance coupe like that in any portfolio? Yes," Mr Simcoe told Wheels.
"Given that Australians - and particularly Australians who buy Holdens - are essentially enthusiasts and they enjoy driving agility and the character of rear-wheel-drive, then it makes sense."
Mr Simcoe also appears keen about the idea of calling it a Torana, saying it would be doing all the same things that the original Toranas did back in the 1970s.
At the same time the man who was the design chief at Holden when the VT and VE Commodores were developed is also cautious.
He told Wheels that the worst thing a carmaker could do was devalue a heritage badge by sticking it on an unworthy car.
"But judging by what we know so far, Code 130R doesn't fall into that category," the magazine said.
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