Pontiac SAVED !!!!

[ONEBADMK8]

Washington - Reports that General Motors might kill off its muscled Pontiac line - Firebird, Grand Prix and Bonneville - pushed GM to nix the idea on Friday, at least for now. GM is already working to shake off Hummer, Saab and Saturn as part of its belt-tightening ahead of the crucial June 1 deadline, set by the government for the country's largest car maker to attain viability.

GM received news this week that it would get another 2 billion dollars in loans from the US government to help it stay afloat until the deadline. The new infusion brings to 15.4 billion dollars its debt to the US government since December.

GM faces bankruptcy after June 1 if the government's auto task force believes it has not become lean enough to survive.

Reacting to reports that GM was going to kill off Pontiac, GM posted a statement on its website to dispute "media speculation" on the topic and say it was still reviewing its plan to ensure success.

"General Motors has not announced any changes to its long-term viability plan or to the future status of any of its brands," the company said.

GM's smaller rival, Chrysler, faces a shorter deadline on viability on Thursday, and is hustling to nail down a buy-in deal with Italian automaker Fiat, get more cooperation from its lenders and talk its employees, particularly in Canada, into parting with some of their union benefits.


I can see the headlines down the road if this works out. "Obama Saved Pontiac" LMAO

Full Story.

 

[SoonerLS]

I wouldn't say that Pontiac is saved, at least not yet--I looked at GM's statement, and all it says it that they haven't said anything yet. This doesn't contradict the story in Automotive News, which says that GM is preparing to announce the demise of Pontiac next week.

Relevant quote from Automotive News:

General Motors is preparing to announce early next week that the Pontiac brand will be eliminated, said a source familiar with the company's plans.

Here's what GM posted:

FOR RELEASE: 2009-04-24

Pontiac Statement Re: Media Speculation

Contrary to media speculation, General Motors has not announced any changes to its long-term viability plan or to the future status of any of its brands. GM is continuing to review its restructuring plan to go further and faster and best ensure its future success. Additional information will be released as any decisions are finalized.

# # #
-- http://media.gm.com/servlet/Gateway...monthlyreleasedetail.do?domain=74&docid=53902

 

[Calabrio]

I don't think it's saved.
They're doing damage control. They still want to sell all that Pontiac inventory. If it's widely accepted that the division is going to be axed, people will avoid the car unless there are radical savings and incentives associated with it.

Pontiac is finished.
And frankly, with Washington, D.C. running the show, GM might become the American British Leyland. Pinning the hopes of the company on that ridiculous VOLT, because it's "enviro-huggable", is a huge mistake. Political expedience makes for bad business decisions.

 

[ground_zero298]

Saved or not, 16000 people are losing their job this month from GM.

"In the end they will lay their freedom at our feet and say to us, 'Make us your slaves, but feed us.'" Looks like it might come true.

 

[Speed Demon]

Pontiac isn't going away, its getting smaller. "They be a highly focused niche brand concentrating on youthful and sporty products" quote from Pontiac. Hummer Saturn and Saab will still be sold or phased out. They'll basically do the performance thing as long as they can. We'll have to wait and see how things go.

 

[chicken]

last i heard was that gm was axing everything except chevy and cadillac

 

[topher5150]

i thought Saturn was doing pretty good, why would they get rid of them?

 

[chicken]

supposed to be done end of 09, there commercials make no sense tho

 

[PetesSweets86]

GM are the biggest cock blockers..look at Ford...ain't even struggling a bit...they are making VERY good business choice...except all the New lincoln look f*cked up...I don't like em and the new Pontiac look-alike grille

 

[kustomizingkid]

Not!!!!!

 

[SoonerLS]

look at Ford...ain't even struggling a bit...they are making VERY good business choice...

Ford is struggling like everyone else, they're just not struggling as much as GM and Chrysler because they started an aggressive turn-around before the credit markets seized up.

As for the new Lincoln nose, I don't particularly care for it, but it's not a Pont look-alike, it's a very old Lincoln look--it's a throwback to the '40 Lincoln Zephyr.