The financial state of General Motors has been a ticking timebomb over the past months. According to Edmunds Inside Line, a source within General Motors says that their new restructuring plan will be announced this coming Monday, and the Pontiac division is expected to be killed off.
Inside Line spoke with Tom Wilkinson, the news relations PR contact for General Motors, who simply said, "There's nothing I can share with you at this time. Keep your eyes on our media site. Officially, nothing has changed with Pontiac's niche-brand status, until you hear differently." While this doesn't give us high hopes for what's to come of Pontiac, it's no joke that long-time poor product planning has caused GM's "performance brand" to get the corporate axe.
General Motors will instead be focusing on its four core brands -- Chevrolet, GMC, Buick, and Cadillac -- while Pontiac, Saab, Saturn, and Hummer will be auctioned off to the highest bidder or simply killed off completely. In recent years, Pontiac's theme of "driving excitement" hasn't been brought into too much focus, with only the Holden-based G8 receiving good praise from the automotive press.
Stay tuned for more details as they become available.
+ Edmunds Inside Line: Pontiac Is Dead