Although Holden's involvement in exports has fluctuated since the 1950s, the declining sales of large cars in Australia led the company to look to international markets to increase profitability . From 2010, Holden incurred losses due to the strong Australian dollar, and reductions of government grants and subsidies. This led to the announcement, on 11 December 2013, that Holden would cease vehicle and engine production by the end of 2017. On 20 October 2017, the last existing vehicle plant, located in Elizabeth, was closed as the production of the Holden Commodore ended. On 17 February 2020, General Motors announced that the Holden brand would be retired by 2021. It will be replaced by GM Specialty Vehicles (GMSV), which will import the Chevrolet Silverado and Corvette C8.