Classic Chevrolets

GM to pull the plug on Pontiac

User Rating: / 5
PoorBest 

• What killed Pontiac
  The Pontiac car brand, once marketed as General Motors' "excitement division," will be killed off by the end of next year, the carmaker announced Monday.
  
  The decision to shutter Pontiac was one of several aggressive steps GM spelled out in an updated survival plan Monday. The government has given the company until the end of next month to restructure and slim down in order to survive.
  
  The new GM will focus on four core brands: Chevrolet, Buick, GMC and Cadillac.
  
  The fate of three other troubled lines -- Saturn, Saab and Hummer -- will be decided at a later date, GM said. They are likely to be sold off or shut down, while Pontiac will be shuttered
  
  
• GM goes for broke
  General Motors announced plans Monday to cut 23,000 U.S. jobs by 2011, drop its storied Pontiac brand and slash 40% of its dealer network in its latest bid to stay out of bankruptcy.
  
  
• GM to pull the plug on Pontiac
  General Motors is preparing to announce that the Pontiac car brand, once marketed as GM's "Excitement division," will be killed off, according to a source familiar with the decision.
  
  
• GM plans major summer shutdown
  General Motors -- facing a deadline to restructure its beleaguered operations -- will shut down 13 of its 20 North American plants for several weeks this summer as the carmaker tries allow its dealers to sell down overstuffed inventories.