Car manufacturer and owners of Holden have announced that the Holden brand will be retired by 2021, following 164 years of the badge on Australian roads.

The news follows the recent axing of the company’s former flagship model the Commodore in December last year, and comes just over two years after local Holden manufacturing ceased at Adelaide’s Elizabeth plant.

Holden sales peaked in 1998, with the company selling just under 95,000 Commodores in one year. However, a range of factors from a strong Australian dollar to reductions in government subsidies led to the 2013 decision to stop making cars locally.

In an announcement, GM Chairman and CEO Mary Barra said “We have the deepest respect for Holden’s heritage” but could no longer overcome the challenges of “growing the brand”.

GM has not confirmed any job losses, however, the company currently employs a number of staff in sales, design and engineering across Australia and New Zealand.

Holden car owners in Australia have been assured that GM will honour all warranties and continue to provide parts.