This is the end of the road for Pontiac as General Motors confirmed earlier media reports by officially announcing on Monday the death of the 83-year-old marque that will be phased out by the end of 2010. As part of its revised “Viability Plan” that accelerates the timeline for a number of important actions, GM said that it will speed up “the resolution of Saab, Saturn, and Hummer to the end of 2009, at the latest.” The General will focus on four core brands in the U.S., Chevrolet, Cadillac, Buick and GMC, offering a total of 34 nameplates in 2010 compared to 48 in 2008, a reduction of 29 percent.
Thursday, March 25, 2010
GM Officially Announces Pontiac's Death, Saab, Hummer and Saturn to be Gone
“We are taking tough but necessary actions that are critical to GM’s long-term viability,” said Fritz Henderson, GM president and CEO. “Our responsibility is clear – to secure GM’s future – and we intend to succeed. At the same time, we also understand the impact these actions will have on our employees, dealers, unions, suppliers, shareholders, bondholders, and communities, and we will do whatever we can to mitigate the effects on the extended GM team.”