Holden will be axed at the end of 2020.
Holden's parent company, General Motors, informed Holden staff and dealers on Monday that they were retreating from right-hand drive vehicles worldwide, including the famous Aussie brand.
It means approximately 600 of 800 jobs will be lost, with all awarded redundancies.
"Our intention was to turn around the brand ... there is zero blame to the local team," a General Motors official told Car Advice.
"This decision (about Holden) is all about investment priorities."
The company axed the Commodore - once the country's best-selling car - and the Astra in December.