TODAY |

Trade Me sees 'huge jump' in Holden searches by nostalgic Kiwis as car brand shuts down

Interest in Holden vehicles has surged as nostalgic Kiwis indicate interest in trying to get their hands on the beloved cars before the brand shuts down.

Your playlist will load after this ad

General Motors announced the car brand will soon be no more. Source: Seven Sharp

On Monday, General Motors (GM) announced it would be pulling the brakes on the Holden brand for Australia and New Zealand from 2021.

The online auction house Trade Me has recorded a "huge jump" in searches for the car brand since the announcement three days ago. 

"Holden is searched thousands of times each day on Trade Me and since the announcement by GM we've seen a huge jump in interest as Kiwis reminisce or consider snapping up a brand that will be discontinued," says Head of Motors Alan Clark. 

Searches since Monday have increased by over 30 per cent, with 17,000 searches for the car brand yesterday alone. 

READ MORE
A history of the iconic Holden brand, soon to be no more

Mr Clark says the number of searches have continued to grow all week. 

In Australia inquiries about vintage and iconic models have jumped, literally overnight according to Lloyds Auctions chief marketing officer Brett Mudie.

"The value of Holden classics has always been strong but this evidence that has come to us in the last day suggests that it is likely to create a booming market for them," Mr Mudie said.

Among the most sought after classic Holdens are early Monaros, special edition HSV vehicles and certain versions of the A9X Torana.

Prices for the early production models such as the FJ will also jump.

But the loss of the iconic motoring brand in New Zealand is a double-edged sword with Holdens bought recently unlikely to retain their value in the short-term.

Holden says it still has thousands of cars available for sale, with many of those already in showrooms.

The company is expected to outline to its dealer network in the coming days what discounts can be offered to lure potential customers.

GM has pledged to continue to support the brand in terms of spare parts and warranties for at least 10 years and will retain about 200 staff to that end.

It will also offer compensation to dealers to transition into other brands or to close down their operations.

It's unclear how many jobs will be lost across the dealer network with industry analysts suggesting many would have "seen the writing on the wall" and already begun preparing for life without Holden, especially those that also sell other brands.

The company currently has 31 dealers in New Zealand with 165 dealerships operating in Australia.