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Holden today unveiled the all-new Holden Commodore range, designed and engineered to extend a decade-long record as Australia's best selling car.

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The 2006 VE Commodore is Australia's first $1 billion car program and the most homegrown development project in almost 60 years of Holden vehicle production.

The fourth generation Commodore is much safer, offers more technology and delivers more features and value than ever before.

Interiors, exteriors and major mechanical features have been totally redesigned or upgraded, representing the most clean-sheet car program in Holden history.

Holden spent more than six years planning and developing the new Commodore, the first generational change since the multiple award-winning VT Commodore was launched in 1997.

Holden launched the Commodore in 1978 and has built 2.4 million Commodores for sale in Australia and export markets around the world.

Holden's sports performance hero SS model and prestige leader Calais were chosen to debut VE Commodore at an event in Melbourne.

The all-new WM series Statesman and Caprice flagship models, representing Australia's most successful locally designed export cars last year, were also shown in an historic double reveal.

Commodore's design theme is enabled by an increased wheelbase which moves the wheels closer to the car's corners, delivering a powerful European-styled stance on the road.

The launch comes 75 years after Holden became part of the world's largest automotive company, General Motors. It is also 150 years since the original Holden saddlery business, which grew to be today's GM Holden, opened in Adelaide.

GM Holden Chairman and Managing Director, Denny Mooney, today said VE Commodore was designed to excite buyers about Australian cars and enhance Holden's future as the largest automotive manufacturer in the country.

Mr Mooney said General Motors had invested more than $6 billion in Australia over the past decade, including VE, to protect Commodore's market-leading position.

The VE program totalled $1.04 billion and the WM Statesman and Caprice program $190 million, taking the combined cost to $1.23 billion.

Mr Mooney said VE Commodore had potential for GM markets around the world, having been engineered from a global architecture for left-hand-drive requirements such as the Middle East.

He said VE offered striking design, performance and refinement able to compete with the world's best car brands.

“VE Commodore delivers ultimate value to the Australian buyer. Its design is comparable to anything in the world and we made major advances in refinement and quality,” Mr Mooney said.

“Our targets have been some of the most expensive and most carefully crafted cars around the world and this careful consideration of global expectations is what should make this car work.

“We pored over every panel, the tiniest of details to place this car right up there in terms of refinement, quality and performance.”

Mr Mooney said safety was a key factor in the new vehicle, with the acclaimed crash avoidance technology Electronic Stability Program (ESP

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