CAR maker GM Holden revealed yesterday that it had posted a $210.6 million loss for calendar 2009 - the fifth run of red ink at the Red Lion in as many years. However, the Australian arm of the giant US company General Motors was able to put a positive spin on the result, saying that auditors' concerns aired in Holden's 2008 financial reports that the company could soon become unviable were no longer being raised. The chief financial officer of Holden, Mark Bernhard, said the poor result was almost all due to the loss of a lucrative export program in which the Australian-made Commodore large family car, rebadged as a Pontiac, was sold in the US. The export program, which was to include a left-hand-drive version of the Holden Ute, was cancelled in April last year after General Motors slipped into Chapter 11 bankruptcy protection in response to the global financial crisis.