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Friday, 24 April 2009 13:58

GM will annouce Pontiac to be Eliminated

General Motors will announce an updated survival strategy to the auto task force. GM had been considering phasing out Pontiac instead of sticking with a plan to have it continue as a niche brand. GM said on Feb 17 that Cadillac, Chevrolet, Buick and GMC would be its four core U.S. brands. On March 31, the task force told GM, surviving on $15.4 billion in bailout funds, that its restructuring plan wasn't aggressive enough and denied a request for $16.6 billion in additional aid. GM is expected to tell the government that it will stick with plans to keep GMC, Buick, Chevrolet and Cadillac. Saab, Hummer and Saturn are for sale.

"I can't speculate what next week is going to hold," said Pontiac spokesman Jim Hopson. "When we were asked to go back and look at the viability plan, everything went back on the table. We're reviewing everything. We're still under the original viability plan until told otherwise."

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