Director

- l.tn.1g1ng l m:clor

i...ot lSlR LI

YD FY LTD

LR . • '

A DITOR D ITIF H Kl f.L

I LRK TREf1 MFLBO R 1000

R TAR G < THOM

R GI TER D OFFI 141 Al O. Rf FT PORT Mrt BOUR l J�

GMH throughout Australia

\ ictoria -i hcrmcn · Bend

I h:Jd !lice c hn1cal cnlre mcl ·ngmccrmg. cp.irlmcnl

and e'1gn tud1 ' 1-oundnc · Manufa tunng Planb for ·ngme. ManuJI Tran m1 ''on \\ mng Loom

lcctncal Pan Management und ech111 al c.Ju a11on Cenlre

ou1h Melbourne ale epartmenl

De<1le�h1p en ice Oanden ng

sscmbl� Bedford.

..... 1011 pera11on

etroll Die cl th n lnlernauonal Parh Manufacturing

Lang Lang utomoll\e Pro,mg .round r r

Pa"engcr \ eh 11.:lc' and ruck ,1fet) Tc l cntrc

[ m1' 1 "' '' Facilll)

uth uo,lrali:i l hzabcth

embly Holden Range and t.tte man Body T ol Design Pr du II n f Met.ii 1ampm�

B d) I lar<l".ire ManufJ lure

u1omallc Tran m1 i n 1\1,mufa turc Bod) T 101 'Vlanufo ·1ure

tampmg. lec1r platmg

Die- a·1ing Birkenhead

Part. xport b

1\ " ·outh \\al Pago.:\' ood

Lone JI . lfa:c

Qu en land c.1c1a R1dgc

embl} omm <lore and Gcmm1 v h11:lo.:

Review of Operation

2

GMH retained market leader htp in 19 0 for the twenty-eighth con e ut1\e )car . 19 0 aw a trengthenmg f c nsumer prcfi rence � r four cylinder

vehicle m the u ·trahan m tor vehicle market. Thi a pnmaril due t petrol pn e , h1ch m mid 1979

had alread:r tarted t move up,,ard and whi h a clerated early in the year. Petrol uppl> wa al a major mRuen ·, hi h "'hen ombmed wtth price mo emcnt . turned the market more to ard fuel effi ient vehicle lniual re pon equated fuel efficiency with f ur cylinder rather than engine apac1ty

Th shift to the four cylinder pa nger market in I 0 wa marked, wnh four c tinder reg1 tration account mg for 6 7 ° 0 of total pa nger reg1 tratton , compared with 57�0 m 1979. In the commercial cgment, where the h1ft had urred much earlier, the growing trend to

die el power plant umulated market gIO\\ lh durmg the year

The mmerc1al chicle market gre at the e pen e of the passenger · tor, a increa mg number f imported hght ommer ial were meeting wider ac eptance a-. pa· ngcr ar ub tllutes .

In 19 O the total indu tr market ro 0.3 2°.,\\ tth 575.1 I regi tratton . However, the pa enger

market declined b 1.6 ° ,,. h1le the c mmercial tor roe by 7. 9° 0• GMH unit v lume of 133, 273 re pre entcd a 15. 9 ° 0 decline from 1979 while market hare fell from 27. 7"0 m 1979to2. 2°01019 O . In thc

pa nger veh1 le market onl . GMH unit olume fell I .6°.,

"'ommodorc coni1nucd a- u�tiaha·· top elhng ar with 6 , 204 ·dan and wagon regi tered. Of th1

olume, 9.726 unit were four ylmder � llo\\mg the relca e of the ommodore 4 m mid-year, rcpla ing the Toran \\ h1ch c a ed production m 1979. The HZ Holden wa al. o ph ed out a part of th e. ten 1ve

MH pr duct rauonalt auon program m 19 0, s that, whtl total omm dore reg1 trat1on \\ ere up 4,215 unit on 1979. total GMH pa . nger olume declined by 15, 2 7.

In the growing four cylinder market, the Gemini re­tained market leader hip m the mall car gment with regi trauon ome 2,000 unit higher than m 1979. Thi wa de pile th mtr duction of compeuuvc, largely imported front wheel drive model. late m the ear which impacted GMH p rformanc .

In the mtcrmcd1atc four yhnder pa cnger egment, the phase out of the unb1rd model range . agam. a part of the vcrall pr duct rati nah a11on. contributed to volume and ratio decline .

In the light commercial gmcnt. the MH four yhndcr olume improved, howe er. thi \\as well

behind the rate of market growth in 1 h1 area and con equcntly failed to compen ate for the ub 1an11al decline in GMH 1rad1t1onal pa ngcr den all e produ t. wh1 h wa largely taken up by a wide ariety of fully imported light commercial chicle .

The folloY. mg table mpare 19 0 ' hole ale unit ale w 1th ale m 1979.-

Dom('Stic: tate man ommodore

Holden Torana

unbird Gemini Bedford I uzu Tru k

hevrolet Tru k I. uzu Lu Opel

Total 0 me 11

Export talc man omm d r

Holden Torana

unb1rd Gem mi Bedford I uzu Truck

hevr let Truck

Total port

Total Dom tic and port

19 0

1,440 69.79 17.222

329 2 39

3_, 5 1.62 2.499

9 2,944

131,222

0 6.010

371

204 7 2 I

6,

137,907

I 79

2.219 70. 44 3 .• 3

3.99:! 9,927

31.1 7 1,747 1,57

3 2.404

3

162.5 2

304 3,377 4.439

166 3.369

3 4

11,670

174,252

xport ale d Im d in 19 0 to 6,6 5 unit compared with 11.670 unit m 1979.

The total alue of export ale wa 0.9 m1lhon m 1979.

. million agJm ·1

The large t e port market, cw Zealand. needed t redu mventorie m hnc with a lower market and increased c mpc1111 n, and . h1pment. to cw Zealand fell by 4 ° 0.

W1th ommodore 4 cylinder be oming J\'ailable mid-19 0, mm dore retail ale m C\\ Zealand began 10 improve by the year end. In add111on, ommodore 4 c lindcr wa laun hcd in mgapore in o ember and

MH market pro pcct there, and in other outh- a I 1an ountnc appear fav urable.

OPERA TIO C tf !ARY

General Mot r -Holden· m urred a lo of 129. million during the 19 0 calendar ear.

maJor fa tor m th1 lo wa the mpany· on-going commnmcnt 10 r tructuring program· for the future. including aim t 360 million on a nc\\ nginc Plant.

oundry moderni. alion and orward Model Program . Thi inve tment alone rcpre ent m re than the total d1v1dend payment made b G MH 10 cneral M tors Corporation during the pa t 25 year .

Other con1nbu11ng fa tors to the 19 0 lo , were:

• Trimming of the Holden product range. • o t in urred m th clo ure of the Pagewo d

Plant . • Termination bcn fit paid to emplo ee , includmg

Pagewood, to encourage early rcurcmcnt . • Wnle- ff of deferred tax a ct .

• A 21 °·0 reduction in car and tru k unit sold .

o d1 1dcnd wa paid 10 lhe Parent omp n in 19 0.

EW fODEL I TROD TIO

More Power, Le. uel wa the mtrodu t ry theme of the n w model of the top- ellmg H Iden

ommodorc - dan and agon . rclca ed m M ar h 19 O. featurmg a new range of 1 and eight l inder cngm .

Th upgraded engme the T deliver up to 15 °., better fuel economy. with power gam a high a _5 ° 0.

well a· being m re powerful and economical. the new engine are mooth r. quieter. more re. pon i e, ca 1 r to rvt e and more durable.

The new four ylinder ommod re edan and wagon were rclea ed m June. and, w-hen combined wtth Gemini, gave MH for the fir t time, a produ ·t range featuring more four cyl inder modeb than i e and

In the hght commercial field. the new range of WB H Id n vch1 I wa rattonali d to improve tt ompet111v nc m tht market. F ur model. nly are

no .i a1lablc tn tht range. t ut1h1te . a panel van. and a unique one tonne cha 1 -cab.

In July 19 0, GMH added the KT25 three tonner tom p pular I uzu rang tht eh1 le rapidl won a cpl nee m the l ight dut. area of the truck market.

Durmg M ay. local al> embly f I uzu truck wa introdu ed at the Dandenong, 1ct na. plant and a fuel effi 1ent dte I engmc ption wa added to the p pul r I uzu KB commercial ene .

£� E GI E P ROGRA I

The new Engine Plant pre�ntl under con tru tton at i hermen· B nd, ictona reprc nt a major

mvc tment by M H in the future of the u traltan motor manufacturmg mdu tr . rellecttng confidence in our ab1ht to part1c1pate m pr ductton of component for world car program .

4

The fir. t ma -produ lJ n cngmc 111 emerge from the fa tiny m mid 19 I. At peak the Ft. hcrmen' Bend operation will be producrng 300.000 of the ne four ylindcr engme annually. with about two third of

them being e p rted. The c arc the new genera lion of fuel-effi 1 nt engme . known a -amil Two. and de. t ined to be u ed m G M vehicle around the w rid.

The am1l Two 1 an ultramodern, l ightweight, very trong cngmc de ign d to ha e a long pr du 11on ltfc.

Bccau e of tt ery m dern de 1gn, it manufa tunng procc ha demanded the use of con idcra ble new technology which will have future benefit to the manufa tunng ba-.e in u traha.

i hcrmen· Bend will be one of the mo t m dcrn cngme and foundry plant m the world. Prec1 ton machmery mainly fr m crmany and u traha. and al o from Japan . w1tzerland, Britam and the . . 1 in tailed

G M H order for ma hme t I and alhcd equipm nt to be upplied from u traltan manufa turcrs al ne total

40 million and that ha tret hed the Au traltan ma hine tool rnanufa turer to their hmtt .

Mo t of the comp nent to be built mto the ne engine are al o commg fr m Au traltan uppher . Over the ne t three years the ompany will pend 150 million on the e component .

upplter are al o pendmg ten of mtlhon of d liar on expanding their own tooling and manufacturmg operati n to meet our need .

0 erall. th1 mean that th new t-amtly Two piant w1ii contmue t generate e tra J b for u trahan mdu try.

Becau e o much of the i hermen' Bend plant output will be ex rted. it 1 ab lutely ital that G M H met the t imetable and the quality le el dem nded b our over ·eal> cu tomer .

Thi n w plant, which will be a howp1ece for the world motor mdu try, 1 part of the pan ion of Au tralta' manufacturing tndu try and an in e tment by G M H m the future of that mdu try.

GMH Peopl

The ompan) wa ' m indful r th e on equ en cc th 1 dcet 10 11 w u ld have. and t n 1l lated a number r ... 11 1\ e \lep to le -.en the impact on emp l yee and th1.:1r fami h e .

JOt n l MH and ommonwea lth mpl )m ent en1ce Ta'"- or wa 'tabli hed w h ich a 1 ted m finding u nable a lterna tl\ ·e cmplo ym .:n l for th e ma jority or th

Pa ewood P lant·, 1,200 emplo ye s. In add 11 1on. a redundan y agreemen t was n egouatcd n beha lf or the Pagcw o od emp l yce • and paym en . m cludmg th e redunda n cy a llowan e. tota lled 7 m 1ll1 n

a con cquen ce or labour m nces of t l. nc1.:d ' a t other P lant • th ..: ompany, durmg the :-rear. m n 1a1ed m \ .C l rcdu e l l worH r e m the Jea ... 1 d 1 rupllvc: way h) implemen ting an m enu ,·e campa ign lo a ch ieve v luntar) para1 1on .

n to ber JO. 19 0 th e mpan) \ ne Mana gement and Techn ica l du a uon cn lre. I a led m P rt Melbourne. \\a o ffi ia ll) opened b) th Mm 1 ter fo r

mpl yment and You th ffa1r . th e H n . R I. mer. \.1. P. M T 1 prov1dmg a range f lra m t ng program for

f employee in addiu n to an an cilla ry role a ho l lramer for other orga n i a lion . pa ru cu la rl:r 111 th e field r appren u c trammg. pc 1a lly enc uragmg wa the mcrea c m the fir l ea r apprcnu e m takc from 148 to 1 9 appren tice , two or whom for th fiN lime a l

MH \\ere fema le appren l1 c ..

mpl )Ce m tcre t \\U aga in d emon tra ted through par11 1pa llon m the ugg e. 1 1 n Pr gram wh ere ome 7.:?00 1mpro\'cmcnt idea· v.erc rccel\cd wn h no Jc

than 2. 00 bctng accep ted for ad puon tota l or 2. 0.000 wa ea rned by empl yce. th r ugh the ugge 1 1on Program during th e yea r. \\-1th l\ \O

IDUXJmum. uggc lion a\ \a Td o r 10. bcmg g ra n ted.

pphca t1on C r th e enc ra l M to r ·ell w h ip Plan. open to empl ee aga in

high in 1 9 0 . l ta l of 9 fe ll0 \"h 1p \\ CT U\\.a rd ed. pro 1dmg th e rec1p1en1 w 11h on e yea r·. cdu a t1on and cxpen en e a t Gene ral M to r. Jn mu te in Mi chigan ,

.. Ill con 1unc1 1on \\Ith d m e II d i\ "I n .... u ch a Id mobile. ad1lla c and Pon tia

MH du ring th e yea r n tmucd lo mam ta m 1l h igh · fety record \\ 1 th onl) one d 1 abling tnJury for e\ eT)

1.4 ,000 h ur wo rked

i•

16

11

0

EMPLOYMENT ANO PAYROLLS

[MP OYMC l ll<OVSANOS MILLIONS I I I I I

I I I I I / ....... -· I I I I I I

I I I / I I I I wr.

2.

I / ' , 1110

I I '- / I

� / 100

,_�AYRpLL.S / ,,., I

I I llO

�I

1EMPlono AT I ·Et<O OF YEAR ./ - � "

,......,, /. I - __J � II � '

I I ' I I I

I I I

I I I I I

� 66 68 70 72 7• 76 78 80

GMH HOURLY RATED EMPLOYEES

s

f LR L MOTOR Ii LDF LI 11TLD D

Gf ER L MOTOR H LO PT\' LIMITLD

CONSOLIDATED BALANCE SHEET

ATD MBER 31. 19 0 The al1.ompan in11 no1r � rm an in1cgrJI parl of lhC'>C au:ounl

A 111hori. ed apua/

70,000.000 rdinar hare of 2

I sued apual. apital urplus and Retained Earnmg�

70, ,000 r dinar hare. o f 2 full pai d ap11al urplu Revaluauon ( ote 4) nappropnated Profit at December 31

on- 11rre111 Liahtlitie

Tra de red11 r Pro�• ion for Warrant De ferre d ln c.:ome Ta e Deferred lnvc 1men1 Ta Long Term Bank Loan Loan fr m Hol ding mpan Loan from Related ompan:r Other Long Term L a n Prov 1 1 n for ut lan ding Worker.· ompen auon laim �

Current Liahtl111es

Ban k Borro Y.ing Ot her hon Term B rr Y. i ngs Tra de red1tor Trade Creditor.. m re'pe ·1 of Fi cd As..,et Am unt Payable 10 Hol ding ompan Am unt Pa able to t her Related ompame Amount Payable 10 on- on ol 1da 1e d ub i diar ompame Pro 1 ion for Marketi ng Pr gram a n d Warrant a n d P he Deferred 1 n e tment Ta red II Prov1 ion f r eparauon Allowan ce Pro 1 ion for Lon g erv 1cc Lea ve Pr vi ion for i ck Lea ve Pro 1 100 for Out tan dmg Worker · ompcn auon la 1m

6

I 80

360,977,685

5,024,897

3,626,816

4 3,333

38,000.000

42,329,834

22,321.429

20,000,000

4,945 806

140,332,115

65,050.141

90,415,000

85,456.765

20,812 96 7 90 .185

16,638,001

213,237

24.217,712

7 9,5 2

10, 28,651

21,108,684

5,648,827

1,900,000

350,557,750

1979

140,000. .747.471

197.923.519

343,670,990

5 • 7 2,804.5 9,267,395 4. 32.63

22, 00,000

22,321.429

3,647.624

65.432.549

47.316.671 43.000.000

9,63 .123 . 09.371

13. 47, 14.12 ,34

265,237 22.777. 4

5.661 1.204.00

23,6 ,09 5,722.3 5 1,600,000

272, 166.416

6 1,269.955

Fii:ed A . e1. ( otc 4)

rechold L and. lmpro \.cment and Bui ld ing Le aseh old lmprovem n t . Machin ery. eneral T b . u rn llure and 1xt u rc

Dejerrl'd A. se1 pectal Tool at t le

Deferred Incom e T axe Prepa}ment

am unl. wrttten -o ff otc I)

on oltd ated ub. 1d iary ompan ie at t Le m unt Wrttt n- ff

at I \\>Cr of<.: t and net re alt ab le alu

mpany

ub id 1ary ompan1e

258,519, 48,026,473

142,06 .574

448,609,133

9 1,742,538

3,207, 156

94,949,694

4,

247,609,631 27,962,

2,760. 1 1,997,566

10,693 1,970,909 8,742.246

304, 0,067

1979

124.026.427 19.53 .705

.345.773

203.910.905

4.10 .015 31.01 . 4

1.2 7.107

116.413.

4.663.-77

4. 54.101

290.8-9.037 34.356.61

19. -17.105.365

9.19 2.19 .114 6.610.007

356.2 2.267

7

C.L LR 10T R -HOl O

(,I "-f R L !OT R HOLOI

LI 11T D D

LI PTY LIMITED

CON SO LIDA TED PROFIT AND LOSS ACCOUNT \ R OLD D · ·MBfR 31. l'I 0

Cl Pr fit CL . ) after Tax .

xtrJ rdrnary It m Profit f,o .1) cfcrrcd lm.:ome Ta Wmc- IT

( Ole I ) Pn r ear dJU tment

Pro"hl n for Inc me Tax Deferred lncom Tax Deferred lnvc tment Ta redn

Benefit of Pnor ear Tax Lo :.e. Recording of Income Ta e� in re peel of Lo s car' 1977 and 197 ·

- cfcrred Im.: me Ta Deferred lm.c tment Tax rcd11�

ct Pr fit (Lo ) and traordrnary Item� Add. nappropnatcd Profit al Januar)

nappropriatcd Pr fit at D mbcr 31

19

(856.728)

(21,750.989)

(ll.344)

IO ,904.357)

(856.728)

(I 08.047 ,629)

(21, 762,333)

(129,809.962) 197,923,S 19

6 ,113,557

1979

6.611,448 (4. 3 ,160)

993. 6

7 0.707 ( 04.047)

6.611,448

_,9 2,267 (4.217.612)

2,060.19:!

_,766.3 6

(706,1

5.322,763

4.616.599 19 3.306. 920

197,923.519

Gl LR L MOT R HOLDL LI �IT D D

[ LR L M TOR HOl 0[

OTES TO THE STATEME TS

Pn LIMIT D

I A

T ig11ijicat11 Accou111ing Policie ·

TA TE 1£ 'T OF A 0 Tl 1ETHOD

IAL

The followi n g ummar) f 1gmfi cant account i n g method adopted in the preparat ion of the ompany' account 1 given in orde r to a� 1 t in th u n de r lan din g of t h fi gu re pre en ted xcept a 01herw1 e lated in th note , 1 he h t ton cal c t con en 11on ha been adopted.

PR/ CIPLE FOREIG

A D TRA A TIO I

Th con ol tdate d finan ct I tatement in clu de the account f eneral Mot r·-H ol den· L1mt1ed an d Gen ral Motor -H olden· ale Pt). Limited. a wh lly owned ub 1d1ar) company en gage d in who! ale market tn g ope rat ton .

ore1gn currenq t ran acuon an mg dunng the year ha e been tatcd m u t rahan cu rrency at th average rate of ex1.han ge � r the month� m whi ch t hey aro R1.'Ce1vabl and Payable at Decem ber 31, 19 0, whi ch are to be sett led m forei gn cu rren cies have been state d m u t ral tan currency at appro 1mate rate f e chan ge at that date.

ore1gn c chan ge adJu tment are cre dited or charged to i n come cu rrently e cept to the extent of tho e adJU t ment relate d to t ran act i on covere d by f rnard bu mg con t ract . Premium or dtsc unL on � rw ard buying cont ract . are amor11ze d o er the term of the cont ract .

I ·� E 'TORIE

lnvcntone arc lated at the lowe r of co t or net realt able alue. wtth co t bein g determined ub tantially on the fi r Hn . fir t -out o r the average co t ba i .

Inventon were taken at all locall n . Method u ed i n vol ve a combination of ph i cal inventory an d tall t i cal sampli n g.

PROl I 10 FOR I OME TA £

Due to the ub · 1ant tal b ok an d ta I in 19 0. an d to c n 1 tent wit h a ·c unting tan dard no de fe rre d ta }\a pro vi de d in re pect of 19 0 t 1m mg diffe ren ce an d t he net

defe rred ta e pen. e at Dece m be r 31, 1979 wa ritten-off.

Inve tmcnt ta credit de ducted m determinin g ta e umated to be pa able are normally deferred for amortizat ion over t he l tvc of the related a t . o u ch de ferral wa made in 19 0

Fl ED A ET.

ertam Fi ets m the account ha e been re alued at dates a in di cated in t he accouni . Other 1xe d A et are hown at co t. Maintenan ce , repair rearran gement c pen c an d renc Y.al an d betterment ht h do not enhan ce th value or in crca e t he ba 1c produ uve capac1t of the a t are charge d to c t an d e pen e a in cu rre d.

9

OTE T THE fl

The annual gr up ( ompo 1tc) rate of deprec1at1on are, Mth mmor c cepll n . a folio\\

la .'!.ificaticm of Property

Land lmpr vcmcnt. Bu1ldtng Machinery and equipment

urn1tur and office equipment

Annuul roup Rute.1

5 0 0 ! on i 0

0 ( veragc 6 °., ( vcrage)

The actual rate of deprec1at1 n in a particular year on machmer and equipment ma b lightly higher r lower than the. rate dependent on the number of year � r which the

a et have been depreciated.

D pre ·iat1 n 1 not pro 1ded in c cc of I 0 0 f the gr b ok amount. Dcpr iauon 1

accrued at I 0 ° 0 and 100 ° 0 of th applicable rate h wn above for the fir t and e nd third of thee pc Led hfe re pc ·u ely. and then at 0 ° 0 until full depreciated. of th1 accelerated mcth d accumulate deprec1at1on of appro 1mately two-third of the depreciable co t during the fir l half f the c umutcd life of the property.

D EFERRED A ET.

pend11urc for pcc1al t I ar amortized ver hort p n d of lime becau. e the u11ht value of the tool 1 affected by. frequent change in the dei.1gn of the functional component and appearance f the product.

PRODl.XT RELATED EXPE E

xpcndllure for re earch and d vclopment, adv rt1smg and al promotion ar charged to co t and c pen when incurred, prov1 ion for c timated co t related t pr duct warranty ar made at the time the pr duct are Id.

on-con ohdatcd ub 1d1ary ompanie arc 1mt1ally rec rded in th (.'C unt at t. Th ) arc re alucd at balan ·c date to their curr nt alue. w h r1.: that value

1 lower than co t.

IO

OTE TO TH M nld)

OT 2: (a) The et Profit ( Lo· ) 1 am cd at

After red11111g · Pr m1um on on- on hdated ub 1d1ar) ompan1e hare Redemption Di' 1dend fr m on- on ohdated ub .1d1ary ompan1e a detailed m ote 11 Profit on 01 po al of Land

f I cd Cl

1md Warrant} and Polic)

(b ud1tor · Remuneration or aud11mg the Accounu. and on hdated ccount

0th r errn:es

I aim

mpanics

Th ud11ors of the ompan al. o re 1vcd fee from on- on hdated ub 1d1ane which were paid by tho ub 1d1ane

or ud1t of c ount For ther erv1ce The ud11or rece1 ed no other benefit·

( ) The� Bowing pr fit (lo ) on d1 po al of i d et were tr, n fcrrcd to the Prov1 ion for Deprec1a11on and Amortization and were not brought to a<..-count m determ1mng the on ohdat d et Profit ( Lo ).

Land Improvement. & Building M chmery. G neral Tool , Furniture and i ture

OTE3: Em lumcnt recci cd by Dir tor engaged m the full time employment of th mpany

and it rdatcd orporat1 n , other than fixed alarie . II emolument \.\ere contnbuted b the ompan and it related orporation and reprc nt deferred pa) ment of amount due 1th re peel t penod prior to 19 0.

19

167. 91 45,246

14,981 691 40, 31,0 1

2,262,092 150,604

24000 9,224,643 1,59 ,182

466,441 22,27 ,47

(8,070)

43 9

424,768

1979

14,7 3. 97 30.012, 20

1.071.9 5 52 . 06

11.164.770

24,000

2.241. 42 2,012

562.016 6.226.127

96,500 • 00

55.463 ,147

12.621 45 ,776

413.945

11

OTES TO TH IALS TA T M

OTE Fixed A. sets: reehold Land. Land Jmpro ement and Building

-at 1962 Directors· aluation plu ·addition at o t -at 1975 lndcpendent aluation plu addi11on al o l -al 1980 Independent aluation plu .idditions al Co t -al o t

Le : Pro i ion for Depreciation

Lea!>ehold lmpro ement -al 1975 Independent aluation plu addition at o t

al 1980 Independent aluation plu addition· at o l -at o l

Les:.: Provi·ion for Amortization

Machinery. General Tool urniture and Fixture -at 1962 Director ·Valuation plu addition at o l Less: Provi ion for Depreciation

Freehold Land and and Improvement at Co t include the following amount of Property held for Re- ale

o l of Acqui ition ost of urveys, Roads and Drainage

-Rate and Taxe apitalized

in re peel

Certain of the Company' holdings of Land, Land Improvements and Building were revalued a at Augu t 31, 19 0, by the Baillieu Allard Group of Au tralia.

lndi idual State Valuation were carried out by the following qualified valuers of the Bail lieu Allard Group:

Victoria Queensland South Au tralia

R. J. cri ener, AAI • ARIC P. V . Robert , A IV G. W. Dec, FAIV, AREi

As a re ult of this valuation, the book value of Land, Land Jmpro ement and Buildings were in rea d by $147,116,657.

Thi amount wa credited to apital Surplu -Revaluation and wa not brought into account in determining the net lo for the year ended D cember 31, 19 0.

Valuation expen e of 190,323 were charged lo the Deferred harge account.

NOTES Bad Debt Wri1ten off and debited 10 the Pro i ion for Doubtful Debt

OTE6 Trade Recei ables less: Pro i ion for Doubtful Debt

12

1980 s

118 241 14,275,820

245,655,000 759,631

260,808,692 2,289,606

258,519.086

40,265.692 9,600 000 8,741,874

58.607,566 I0,581 093

48,026,473

332,801,105 190,737,531

142.063 574

683,744 74,330

1,557

759,631

41,994

33,172,970 5 210 072

27 962,898

1979

I I .241 150, 193.216

1,733.9 4

I 2,045.441 2 ,019,014

124,026,427

21,616,620

,352,442

29.969,062 10,430,357

19,538,705

253,14 .862

192,803,0 9

60,345.773

1.57 ,063 154,180

1,741

1.733.9 4

634,094

39.584,672

5,228.054

34,356.618

OTE TOTH 11 A

T 7: tock on Hand and in T ra n . I I

Le . Pro 1 ion fo r tock b ole<;ecncc

Add Worl. in Progrc

T

TS I ontd)

ap11al omm11men 1 not pro 1ded fo r in the cc unt Freehold Land . Impro vement and Buildin Ma chiner . Gen eral Tool . u rn llu re and ixt u re · Lea ehold I mprovement ·

0 9 ontingem liabilitie : I . n sccu rcd ontmgent Liab1ht1e

uarantee m re pe1.:t of A. 1 t cd Dealer hip· and a n u Dealer ' , ... holcsalc finance and other loan 2. Othe r la1m - m ployee

There 1 a guarantee exi ting bct Y. een eneral Mot r -Holden ' ale Pt y. Ltd. and General Motors A cepta n ce orpo ra llon, Au t rali , relating to a riou finan mg tran act ion .

OTE I 0 Income Taxes: Total ta e pen e (cred1 1) for t he yea r 1 represented b : -l n 1.:ome ta x e pen ·e Ccredll) relating to cu rrent yea r' t rading l"Cl>Ult · per Profit and Lo .

c ount - t raordinar income tax expen e (credi t ) per P rofit and Lo Account

Futu re m ·ome ta benefit a n mg from arry forwa rd tax lo se ·

Timing d i fference

were not recorded m the Account

Th e benefit will only be o btained i f: (a ) The ompanie den ve fut u re a a ble income o f a natu re and of u ffic1ent amount to enable the hen fit of t he dedu 11on to be reali ed; (b) The ompani.e continue t comply w11h the cond it ions for dedu ·tib1 ht y 1mpo ed by the la w; (c) Legi lat1on doe not hange in a manner h1ch would ad e rs cl y affect the Companie m reali ing t he benefit of t he deduction .

1980

247,609,631

83,459 36,808,29 12,212.618

49,104,372

2,737,

2,737,000

20 90 605

45.517,266 41,35 .564

86.867,830

1979

27 .721.7 0 12,107,257

290. 2 .037

6,15 .4 9

2,330. 63 I 6.

2.4 7.363

2.766,356 (5.322.763)

(2.556.407)

9.261.466 7.231.27

16.492.744

13

14

OT T TH

11:

amt•oj 11mpa11.1

cneral Motor�-Holden L1m11cd encral M tors-Holden· ale Pt). Limited

T T L

• 1 rdmar) hare f 1 each .

MOl

Place • • of

of To111I /11corpora11011 •1 lrnu·d

ictona

1ttona 10. 0 .0

IClOna 1ctona I Ct ria 3,726 0

100.0

21.726

•2 Full paid redeemable on-part1c1paung 6 "0 umulat1ve Preferem .. -e hare •3 Full) paid r deemable n-paruc1paung 6 °., umulall\.e Prcfercn ' hare •4 ull paid n:decmablc Part1c1pating Preference hare

T HOLD I •.of Total

•2 /11 d

3 ,100 24 51.261 97 4 34,500 1 .0

56, 75 7 . 330.000 93 0

26 ,665 100.0 33,000 90.9

285,000 97.0

641,275 92.0 3 .000 93.4

329.750 9 .9

2,71 .426

la 'la B

OMPA

*3

9 .450 44.537 -9.700

I . 34.-00

1. 125 19 .000

_.(!) .9 0

y·

0 o of Total I ued

100 0 97.5

100.0

100.0 100.0

I .0 100.0

I .0 IOO 0 95 9

I .0 100.0 100.0

I v TM T

o o of Total

•4 /..med

IOO.O I .0 100.0

2, 1 10 I .0 I . 0

9. 100.0 ..,.., -'-· 100.0

I 0 100.0 100.0 100 0 I . 0 I .0

207.9 I

Dirid<'nd1 ontrihution R<•ce11·ed

Total to or JnreH- nnsulidated R<'< eirahh·

fll(!fl/ Re.1ul1s 19 () 1979

( 1 14.1 4,2 4)

10, 0 ( 15,3 6,65 )

143.0 0 ( 10,6 I) 99, 62 ( 1 1. ) 3, 32 7 1,226 6.2 1 1

20, 10 3 . 0 561

107,56 1 3. 6 147, 0 3 6

5 0. 0 21, 3 .0 6

5 15,665 ( 111, I I ) 5 .000 ( 119,473)

449. 19. 3 961. 100 79. 172 6 . I 3 9 7 . 0 (9 .2 )

5, 0 12,050 1_,o o

,047, II 3 (129.6 11.576) 167.39 1 3 .o 6

OT TOTH rr

12:

hare fr 1111.1 hy ub tdwn Compa111e. durt111{ 19 0.

Max Aubert Pt . td 0.000 ull:r Paid R dcemable on -Part 1L1patmg

6°., um ulatt\e Prefi rem: h ar e. la . B of I each

OT I:

mpamc� Y>crc a1:qu1rcd d un ng 19 0

ub 1d 1ar d 1. po ed f d urmg the year:

'amt' P W. Bagn ,1 1 1 Pt:r Ltd

•H oldmg mpany ' lnt erc!>t at d at e of d1 po al

011.1tdt'ra111111 27 . 45

et Tangih/e .\Sl'I

151.12

Purpose

To pr \ tdc W rk mg

aptt al

0 0 Holtling

Compa11_1 ·.1 /nter<•.11 96. •

ow m II eleventh year of operat ton . the D ealer h ip A 1 lan ce 01v 1s1on h a provid ed a st t an t:e to 31 d ealer m ce tts m ccpt ton carl:r m 1970.

The D 1v 1s1on ·. obJ ·t 1 ve 1 to provid e temp rary fin an ce in two area of operat ion : fir t ly . to t ent tal n eY. dealer Y..ho might t h erw 1 'h ave d tffit:ull rat mg fund· needed to e. t abl t h a dealer lup and . c ·ond ly. t c t abl 1 h ed deal er m n eed of fund for e pan ion.

Th i a 1 t a n ee 1 de 1gned to enabl eltg 1ble appl tt:an b t ult imat e! operate on t heir own capital. and 1 ful l) con 1 t ent w ith .M.H ' e t ablt h ed p l tc of distnbuting 11 pr d uct t hro ugh independ ent d ealcn,.

OT 14: eneral Mot r rporat1 n . m e rporated m . . A. 1 the ult im ate holdmg c mpan:r of e n eral Motor -

Hold en ' L im tted

T 15: I tem of plant h a\. been old . ub quent to balan ce d ate at a 'al ue of appro x1mat ly 20.000,000 m cc of prc,cnt t:apual t cd al uc Th t. urplu� w ill be ac."Co untcd for a an e t raordm ary Hem in t he 19 I ye ar.

16

GI fR L \101 R HOLD LIMITED 'D

l l R Ll PTY Ll"llT ·O

011rn• oj F1111d.1. ct lm:om e (L ) for Year

Dcpm:1a11 n Real · t alc . Plant and qu1pm n l D1:>po. al and Rcurement of Ri:al 1a1c

mon11a1ton of pt.-cial T b 01h cr L ng T erm c bt

Applrca1w11 oj furub pcndllurc � r. r Real . lat . Pl <ml and

qu1pmcn 1 pcnd1t urc for pcc1al Tool

Other

ln u a e (Dttr1:a ) in Working ap1t al

Increase f Decrca. J m Work mg apital hy £/e111e111 a h and Market able ecunt1c�

Oth er Borrowing :c oun t R cc 1,ablc

ln vcnton � ccount Pa:rablc

19 0

( 129,809,962) 14,981.691

1,498,556 40,931,031 29.492,042 77. 29,

34,923,192

114,061,818

48,565,554 2,669,J

165,296,726 (130.373,534)

� 92.3,192

(I ,841,792) ( 47 ,4 l5.000)

(7, 54.472) (4 ,219,406) (13,242,864

Fl

1979

4.616.599 14,7 3. 97

1.293,364 30.012.5-0

2,70 .7 14. -1.429

6 .234,607

30.444.220 37,246.4 I

326, 66

6 .017,567 217, 0

6 .234, 7

217,040

l PO I I f R

17

Auditor Report

Cl

We a re \al l ·tie d tha t the cco u n ts or the . ub i d1 a ry tha t have been con h da ted a rc m fo rm a n d con tent a ppropria te and proper� r the pu rp e f the prepa ra llon of the con h da ted accou n ts a n d \'.-C have received a ti fac t ry inform a 11 n a n d e xplanauon: requi red b u for tha t pu rpo •.

o a u dito r ·rep rt on the ccoun t o an of the ub 1 dianes wa� ma de ub Jecl 10 an} quah fica11 n. r

mclu ded a n> c mment m a de u n der ub ecuon (3) f cell on 16 7 of the ompan1e ct. 1 961 .

D L ITI H Kl

ha rte red c ·ou n ta n t

J R !Iye r

Pa rtne r

pri l 22. 1 9

& L L

TO R 0 TH

We. ha rle herman hapman and lwo d ugenc Lea th le , being two Di recto r o f enera l Mo tor -Holden' Limited. la te on behalf of the Di rec tor tha t the o n o h da tcd Financia l 1atcmcn 1 for the )'ea r en ded December I. 1 9 0, d n 1 inclu de the re u lt f the Dea le r h i p A 1. tance D1v 1 ion ub 1 d1ane .

In our o pmion:

(a ) The pre pa ra l lon of l he inanc1 a l tatement m th1 form 1 preferable, in the inte re l. of 1 1 hareholder .

Statement by the Principal Accounting Officer I. rank Ja an ve r traeten , la te tha t I the be I of m k nowle d e and be lief. the a u; m panyrng u;ount of enera l Mot r -H Iden · L1m1tcd and ll

on oli da te d ub 1 d1ar give a true and fai r v iew of the ma ile r requi re d 10 be dea lt with therein b cc 11 n 1 62

f the m pa Ole Cl. 1 961 .

. J. un 0 er 1ra c1cn

pn l 21. 1 9 I

Statement by the Directors \ e. harlc herman hapman a n d !woo d ugene Lea th ley being tw Di reuo r of enera l Motor -H Id n ' Limned. do he re by la te on beha lf of the Direct r. tha t, in ur opi n ion. the ac e m pa n )mg

ccount o f General Mo tor -Holden' 1 m 1 1ed a n d 1 1 o n oh da ted ub ·1d1ar} com pa n ) a rc drawn up o a s

10 give a true a n d fai r view of:

(a ) The profi t a n d I . of the ompa n )' and ll on oh da tcd ub 1 d1a ry for the financial year t:ndcd

Dccem r 31. 1 9 0.

(b) The la te of a ffai r of the m pany an d ll n o h da ted ubs1 diary a· a t D cembcr 31 . 1 9 0 �o far

a · they concern member o f the holding com pan}

ATHL Y

pn l 21 , 1 9 I

ORD A WITH S I S A T 1961.

TIO 9 (5) 0

becau the lnve 1men1 in Dea le r h i p ub 1 d1ane 1 tem pora ry 10 a 1 t the owner 10 c mmencc bu me

Cb) That the a c:c un i a re not ign1 fkan 1ly affecte d by tran ac uon and balam.:e be tween the ompanic co cre d b) the account .

. HAPM

THL Y

pn l 21. I

General Motors-Holden 's Limited D I R T R . R P R T TO

0 H A R H O I D R. R TH R OLD

DI:C M B R 3 1 .

Your Direct or ubmn t h 1 ann ual rep r t for t he year ended December 31, 19 0 and r eport a foll \\ .

The n<1me of t he D irect r in office at t he d at e f t h 1 report ar e a. follow :

harle herm an h apman Bruce Bl ack l\'an lbcrt eve. on

d\\ in le ander th on an hfford ym on reen

l\\ ood ugene Leathlc) J hn Shillingford L overidge John Del n o Rock

arl Reid Rundell Thoma Jame trai l n

lbcrt Jo eph Teal. . B Jo ph ugene W h ite ell

The principal ac1 1 i t ie of the ompant . in t he group during the financ ial )'Car were prod uc1 1on and . ale of motor veh icle . ind u trial e quipment . and part and acce one rel ated t o t he. c pr d uct Th ere were n o

1gmfican 1 change in the nat ure of t hese ac 1t\· 111e during the ye ar.

The net am uni of the group os for the fi n anc ial year v. a 129,611.576.

The e tent 10 w h ich each ompan in the group contnbuted 10 the a e con l td ated l o 1 det ailed on

ote 11 of t he ote t t he h n anc 1al t atemen l .

The following m aterial t ran fer were m ade t o ( from ) Prov1 1 n · and Re! r e d uring the year:

Warranty Pol icy and M arketing Program

Deprec1a11on & Amor11za11on epara11on All \\ an e

Pra\ t ion for O ut landing Worker · ompen alt n l atm

ap1tal urpl u Reval ua11on

2,262.092 15. 0 . 63

9,224,64

1.59 , I 2

147,116.657

ub id 1ary mpame ac quir ed and d i. p o ed of d uring the year 19 0 are det ailed in ote 13 of t h e ote. 10 t he

i n an 1al L tern n t!>.

h are i ued b ub 1d1ary ompame d uring the )'Car are det ailed on otc 12 of the ot t o the hnanctal

o d t\ idend ere decl ared r paid d uring the ye ar by cneral M ot or - Holden' L im ned.

o dividend we re p aid t . r decl ared in fa ur of, the h oldmg company b)' any ub 1d 1ary c ompany mce t he end of t he financ ial year and up 10 the d ate f t h 1 report \\ h 1ch h ave n ot b e en h o\\n m the group ace uni .

The Direct r t " rca n able . tep t a. cert ain that all k n o\\ n bad d ebt \\ e re \\ r111cn off and t h at ade quate pr i ion \\ US m ade fi r D ubtfut De bt . bef re the P rofit and L o ccount and Bal ance he el of neral Mot r - Holden · Limited w e re m ade ut .

AL t he d ate of thi · report. the Dir ect or are n t a\\ ar e f an cm:um L ances \\ h 1ch '' uld render t he amount

w ri t ten ff fi r bad debt • r the amoun t provided fo r D oubtful ebt by the Group. inade quate t o any

ub 1 an1 1al c tent

The Direc t or L ok rea n able tcp 10 a cert ain for t he Profit and L o ccount and Bal ance heel of

cneral Mot or -H Iden' Limited were m ade out, t h at the urrent a et . other than Debt r • wer h o'' n in t he account ing rec ord at a \ al ue e qual t o or bel w the

al ue t h at w ould be e pected to be r al i · d in the n ormal c our e of bu�m e .

t t he d ate of t h 1 report , t he Direct or are n ot a\\ are of an c irc um ·t ance \\ h 1ch w ould render the \al ue

19

attributable lo current a �cts 1 11 the group ;iccounl<; m1 leading.

charge on t he a ct of any 'ompan:r m the group ha an en mce t he end of th finJnc1al :r ear lo t he date

f th1� rep rt to ccure the hab1htic of any other per n.

o c nungent habihtic f an } mpan:r in the gr u p ha\e an-.en mcc t h end of t he financ1al :rear to t he date f th1 rep rt .

o c ntmgenl r 1hcr hab1l ity of any mpan in t he group ha become enforceable or 1 h kely to become enforceable .,.. 1 thm a pen d f t we Ive mont h from t he end of t he financial year '' h1 h. m t h · pm1on of the

1rector .. \\ 1 1 1 sub tanuall)' affect the mpame ·

a b1hty t m t t heir bhgauon. a and \\hen the foll d ue

t the date of th 1 report. t he Director� arc n l aware f any circum lance not 01herw1 dcah w 1 1h m the

report or gr up ace uni. \\ h 1ch would r nder any amount· 'how n m the group ace unt ml\lcadmg.

The re uh f t he operation' of t he group r an:r ompany m the gr up during the financial year have

n t. m the pinion f the Dire tors, been ub tantially affected b an) Item. t ran action r event f a material

20

a nd unusual nat ure other than tho e 11em d1�doscd m t he cc unt. and ote thcreL

In the opinion of th Dire ·tor . no other item . 1ran,ac11on or cvcnts of a material and unu ual nat ure have amen ·t w een eccmbcr 3 1 , 1 9 0 and t he date f th 1 rep rt . other than that detail d m ote I . \\ hu.:h w ould ubstantially affect t he re,uh of any ompany m t he gr up during the ne ·1 finant1al y ear.

puon h;l\e lx.>cn granted t an) per.on l ha\ e 1. ued to him hare m th omparne. or a u sid1ary

ompan:r to t he date of 1h1 rep rt.

o Direct r, mce the end of the pre\ 1ou financial vear. ha recei ved or bee me entitled to rece11.e benefit by rea on of a contratl made by th omparne r by a related ompany w 1th the ire ·1 r r w11h a firm of wh1th he 1 a member or w 1 th a ompany m w h1ch hc ha a ub'>tant1al financial m 1ere l .

Director

PM

T H L

I m a rd.in e \\ il h

Y EARLY EW VEH ICLE

REGIST RATION S

YEARLY N EW VEHICLE REGISTRATIONS thousands of units

620 - ----0 trucks and ut11it1es

600

580

560

540

520

500

480

460

440

420

400

380

360

340 320

300

280

260

240

220

200

1 80

1 60

1 40

1 20

1 00

80

60

40

20

0

- -

1 cars -

..... ,__ -- ..... ..... ,__ ..... - .... .... .... ..... - - - ,_ ,_

.... ,_. ,_ ,_ - ,_ ,_ - - ,_ - - ,_ - .... ,_

.....

..... I�

.... , _ , _

I' ,_ �

,_ ..... "" .

, .. ..... >-•

·-

·71 72 '73 ·74 ·75 '76 ·77 '78 '79 '80 I

Y EA R LY EXPORT SALES R EG I ST RATION OF G M H V E H IC LES

YEARLY R EGIST RATIONS OF G M H VEHICLES thousands of units

1 80 ��������� O trvchand

1 70

1 60

1 5{)

1 40

1 30

1 20

1 1 0

100

90 80

70

60

50

40

30

20

1 0

=� --

.....

..... ,__

-,____ -

---

,,

uuhues I cars

--.____ -

.____ --....

.....

0 7l 72 73 74 75 76 77 78 79 80

GMH EXPORT SALES millions of dollars

80 78 76 �

74 72 .-

70 -ss -, - -66 .___ 64 - -62 -60 68

·� 56 54 - -52 -50 ' -48 ,_._ 46 44 -42 40 38 36 ,_ 34 32 30 28 28 24 '22 20 1 8 16 14 1 2

1 0 8 6 4 I• 2

�

0 71 72 "73 7• 75"'1877 78 9 80 [

2 1

Ten years' statistics

n i l

Year omc l ie

197 1 1 6 .0 24, 72 192,460

1972 1 ,946 33,4 1 94,434

1 973 1 64. 4 4 1 , 1 I 205,524

1974 I 7, 60 32,5 7 190.447

! 975 ! 57.4 !5 1 64,955

1976 I 0.063 7.593 1 57,656

1 97 7 I 2.575 7.694 140,269

197 1 50. 1 62 7.171 157. 33

1 979 1 62,5 2 1 1 ,670 1 74,252

19 0 1 3 1 ,222 6,6 5 1 37,907

000'

40 ,694 42,5 2

400,7 I 6 1 ,420

444, 15 75. 07

5 1 3 ,755 74. 1 3 1

624,56 i 32,3

700.7 7 1 0,9 15

696, 3 1 4 30.073

66,420 2 ,943

1 ,03 ,45 50,9 1 9

952,35 ' 29

Total

0 O'

45 1 276

462.20 1

520,622

5 7, 6

73 1,6 6

726,3 7

95,363

1.0 9,377

99 1, I 7

pend1l ure for Land. Building

and q u i pmcnt (exclude

pc ial T I )

9,2 5

5,052

5.36 1

6,6 16

12,235

1 1 ,230

17,222

14.5 15

30,444

1 14.062

xpenditure ·

� r pec1al Tool

o·

15.64 1

7,2 2

10,623

1 1 .797

9.765

2 1 .2

35 764

3 ,092

37.246

4 .566

Amount Paid t

upplier for

M aterial .

ooo· ·

2 5,93_

2 , _o

3 1 1 ,627

3 1 , 147

396,546

425, 1 5

4 0.66-

524.456

696,227

727,367

2 . 67

24, 357

_5,042

26, 1 5

-3,3 0

22,579

2 1 .2 5

2 1 239

22,740

19. 3

Total Pa} rol l

oo·

123, 1 30

1 1 7.32

1 50. 24

202, 1 32

I I 7 17

2 1 6, 1 2

2 1 3,420

24 ,2 9

29 1 .4 4

266.9 1 1

et Profit

000"

I ,942

1 5.3_

14.25

14,0 1 2

17 . 2

1 6.30

( .4 1 1 )

( ,43 )

4.6 1 7

( 129. 10)

Di idcnd

0 O'

23. 0

I ,

, 50

5, 500

7.000

,050

I L

I L

I L

o crnmcnl hargcs � r

u t m Du tie

and Ta e In luding

Ta on o ..... idcnd

O'

32,006

20,77

_7,064

-5.640

36,427

46. 75

26, 44

27,730

32,7

3 1 .625

car

197 1

1972

1 973

1 974

1975

197

1977

197

1979

19 0

Product

PA G R V HI L

Holden emm1 sedan em 1m L dan emm1 L, X edan

Gemm1 slatton wagon emm1 panel van

H Iden edan L sedan L, dan

H Iden T rana dan Torana cdan

LIGHT OMM R IA VEHI L

Holden Panel van t t l lly

K i ng. w d panel van K mg wood u1tl11

ne tonncr

I uzu K B 25 WB pt k up K B 25 LW B hu t ab K B 40 WB (4WD) pick up KB 40 � B (4WD) cha 1 ab A \ atlable Petrol and te I

H AVY OMM R I A

Bcdf. rd All Holden powered cha 1. cab

cah

Bedford M M and

f R . ( Holden .0

Bcdl rd L R l. I:: R4. ( Bedford 2 i,. dcra1ed die cl)

M T2. l\i1 3 ( Bedford .., 1 . ma . ra1cd

die cl) M f R 4 x 4 ( Holden 5.0 . petro l ) M J R 4 4 ( Bedford 5.4 s 1 , d i e cl )

Pnntnl on Atntnl,. b) 11>< O.•monion Pro unh Bl <kbum 11 }()

Holden dan 1a11 n " agon

Premier 1a11on wagon andman panel van andman u1 i l 11

Holden ommodore edan ommodorc lat ion wag n ommodore edan ommod re S L talion wagon ommodore L,

H Iden late man De i l le L

B D RD B HA

fM ( Bedford 4.9 t • pctr I ) JM ( Bedford 5.4 1 x . dte I )

Y LQ (mid-engine Bedford .2 1 . deratcd diesel) BLP ( Bed� rd .2 1 , d rated die · I )

MT ( mtd engme B df. rd .2 1 • ma ra1ed dte cl )

he rolct

20 cha ti> cab. lce1 1de pt kup ( 7

30 cha st cab K 20 chas 1 cab 4 4 (4. 1 pe1rol )

1 cab ( \ ar) mg G M

OTH R PR D

Detr 11 D1c-;el engine

petrol )

M and

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