Holden's entirely new VT Commodore, the product of an intensive five-year design and development program, has met with outstanding market acceptance. It achieved the highest successive monthly sales in the nameplate's 20-year history during October/ November and is on track to repeat that performance in December.

The company recently airfreighted a top-of-the-range VT Holden Calais to Detroit, where it will come under the international motoring media spotlight in January as part of General Motors' Global Market Expo, held in association with the 1998 North American International Motor Show.

In the few months since its introduction, the VT Commodore has won a series of prestigious awards, including the RACV 'Best Large Car 1997', the RAA 'Best Family Car' the 1997 Australian Design Award, 1997 Adelaide Advertiser Car of the Year, the Queensland Car Award for Best Family Car and the 1997 Victorian Design Awards - Major Prize for Industrial Design.

The medium-sized Holden Vectra, launched in June, also scored well with judging panels and consumers, taking off the RACV and the NRMA Best Medium Car Awards for 1997. At Holden's Elizabeth (SA) manufacturing operation, preparations for local production of the export-oriented Holden Vectra, which will commence in the second half of 1998, continued on schedule.

In the light commercial vehicle market, 1997 combined total sales of the Holden Rodeo, Frontera and Jackaroo will exceed last year's total by approximately 28 per cent.

The expected Holden Jackaroo sales total of well over 2500 units will be double that of the previous year.

Mid-year, Holden announced its formal establishment as the General Motors Product Engineering Centre for the Asia Pacific Region, a move that creates more than 200 jobs and an added $100 million in export revenue.

On 30 June, the company announced a profit after tax of $243 million for the year ended 31 December 1996. It was the eighth year in a row that Holden has led the industry in terms of financial performance.

Holden Chairman and Managing Director, James R. Wiemels, announced in July that Holden will be a major sponsor of the Sydney 2000 Olympic Games. As a Team Millennium partner, Holden will also sponsor the Paralympic Games.

In September, Holden's Lang Lang (Vic) proving ground, Australia's first automotive testing and development complex, passed a forty year milestone, and on 29 November, Holden announced the commencement of a year of commemorative activities to celebrate the 50th anniversary of the introduction in 1948 of Australia's first fully locally produced car, the Holden 48/215.