Holden will leave Australia as early as 2016, despite being awarded millions in government funding, according to a report.
The ABC says a government announcement was scheduled for this week but has been postponed, and that Holden says its negotiations are continuing.
While Industry Minister Ian Macfarlane has been talking to Qantas since the Coalition came to power, a source told The ABC Holden wanted to leave regardless of any assistance package.
Reportedly the Australian Manufacturing Workers Union thinks Toyota will follow Holden shortly after its departure, which would mean the end of car making in Australia.
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