Holden says it will remain a leading player in Australia's auto sector for many years despite the end to local vehicle manufacturing.
The company closed its Elizabeth assembly facility in Adelaide on Friday, with the last Commodore rolling off the production line to a mix of tears and cheers from hundreds of workers.
Holden will now import all its vehicles with plans to launch 24 new models by 2020.
Managing director Mark Bernhard says the company is confident about its future and doesn't believe the end to local production will diminish passion for the brand across the country.
"Everyone's got a Holden story and that's part of what's great about our brand," Mr Bernhard said.
"We need to keep that as we go into the future. We're really pleased with where we're headed."
Holden will continue to directly employ about 1000 people in Australia with its engineering and design teams remaining intact alongside its corporate headquarters in Melbourne.
Another 6000 will continue to work across the company's 200-strong dealer network.
But the Australian Manufacturing Workers Union says it remains concerned for the wellbeing of the 955 Holden production workers who finished up on Friday, and about 1500 more who are likely to lose their jobs across the component sector in South Australia.
The union said some of those would find new work but others would struggle, particularly those aged over 50.
"It is difficult our there and especially here in Adelaide," AMWU state secretary John Camillo said.
The South Australian government has used the closure of Elizabeth to renew criticism of the federal coalition for failing to continue financial assistance for Australia's vehicle manufacturers.
However, Prime Minister Malcolm Turnbull pointed to previous comments from Holden that it had been hit by the "perfect storm" of unfavourable economic conditions, including a high Australian dollar, rising costs and increasing global competition.
During the near 70 years of local manufacturing, Holden produced more than 7.6 million vehicles.
In 1958 the brand accounted for almost half the sales of all new cars across the country, while in 1964 its workforce peaked at almost 24,000.