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GM prepares to announce Pontiac closure next week
Jamie LaReau
Automotive News
April 24, 2009 - 1:45 pm ET
General Motors may announce early next week that its Pontiac brand will be eliminated, said a source familiar with the company's plans. The announcement will be made as part of an updated viability plan to the U.S. auto task force, the source said.
A second source indicated earlier this week that GM was considering phasing out the brand instead of sticking with the current plan to have it continue as a niche marque.
GM, surviving with $15.4 billion in U.S. government loans, had planned to keep Pontiac along with mainstream brands Buick, GMC, Chevrolet and Cadillac. Saturn, Hummer and Saab are up for sale.
Reports that GM is contemplating killing Pontiac surfaced today in Australia, where GM builds the Pontiac G8 sedan.
Jamie LaReau
Automotive News
April 24, 2009 - 1:45 pm ET
General Motors may announce early next week that its Pontiac brand will be eliminated, said a source familiar with the company's plans. The announcement will be made as part of an updated viability plan to the U.S. auto task force, the source said.
A second source indicated earlier this week that GM was considering phasing out the brand instead of sticking with the current plan to have it continue as a niche marque.
GM, surviving with $15.4 billion in U.S. government loans, had planned to keep Pontiac along with mainstream brands Buick, GMC, Chevrolet and Cadillac. Saturn, Hummer and Saab are up for sale.
Reports that GM is contemplating killing Pontiac surfaced today in Australia, where GM builds the Pontiac G8 sedan.
