Pontiac - dead officially

Posted on Wednesday, 29 April 2009 , 14:04:11 byEmil

Filed under pontiacdeadofficialgmu.s.obamaPontiacGM

Pontiac - dead officially

Pontiac is dead... GM announced: Pontiac will not be here to celebrate its 85th birthday. The original plans of GM for Pontiac are to become a solid niche brand right under its brand new plan of viability. The cuts go deeper now, Pontiac is cut off completely. All fans of the performance department of GM can do is... hope for an upcoming revival. 'We are taking tough but necessary actions that are critical to GM’s long-term viability' affirmed Fritz Henderson, the GM CEO and president. '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'.

There will be a fast death. GM said 'The Pontiac brand will be phased out by the end of 2010', that's the fire sale equivalent in the car world. Pontiac's not the only brand hurried out on the door. The plan moves up now for the 'resolution' of Saturn, Hummer and Saab to the end of this year, 'at the latest'. 'We have strong new product coming for our four core brands: the Chevrolet Camaro, Equinox, Cruze and Volt; Buick LaCrosse; GMC Terrain; and Cadillac SRX and CTS Sport Wagon and Coupe' affirmed Henderson. 'A tighter focus by GM and its dealers will help give these products the capital investment, marketing and advertising support they need to be truly successful'.

'A stronger balance sheet would free the company to invest in the products and technologies of the future' said Henderson. 'It will also help provide stability and security to our customers, our dealers, our employees, and our suppliers'. 'The Viability Plan reflects the direction of President Obama and the U.S. Treasury that GM should go further and faster on our restructuring' said Henderson. 'We appreciate their support and direction. This stronger, leaner business model will enable GM to keep doing what it does best - provide great new cars, trucks and crossovers to our customers, and continue to develop new advanced propulsion technologies that are vital for our country’s economy and environment'.