Uncertainty over Holden's future in Australia is unhelpful to businesses and consumers, says Victorian Treasurer Michael O'Brien.
The car manufacturer is reportedly preparing to announce it will close its Australian operations in 2016.
Mr O'Brien says the government wants to see a future for the car industry in Victoria, and has urged the federal government to maintain current funding levels to the industry.
"There's a lot of speculation around at the moment. I think that speculation is unhelpful," he told reporters on Friday.
Mr O'Brien said Holden managing director Mike Devereux was due to appear before the Productivity Commission inquiry into the industry on Tuesday and make the case for what Holden thinks is the appropriate level of industry assistance and support.
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"If the speculation ... was right, why would Mr Devereux bother fronting up before the Productivity Commission and making his case?" he said.
"The fact Mr Devereux is fronting up before the PC next Tuesday suggests this is still very much a decision that's yet to be made."
He said the uncertainty over Holden's future was bad for business.
"I think the uncertainty is not helpful to the employees, to the small businesses in the supply chain and I don't think it's helpful to consumer confidence."
