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GM Has Shed Pontiac after 83 Years, Cutting 21,000 Jobs

admin — Mon, 27 Apr 2009 13:52:48 +0000

Somewhere, the original KITT and the Firebird from Smokey & The Bandit are huddled in a corner crying. Today is a sad day, as this morning GM announced after over 8 decades in business they will be slashing Pontiac. Assembly lines across North America will cut upwards of 21,000 jobs this May (that includes both white and blue collar workers) – and 50% of GM stock (in the form of bond holders) will be Government influenced. Looks like General Motors is going socialist! It also looks like 3 more plants will close by the end of 2010. Yikes. GM CEO Fritz “The Slasher” Henderson also stated in a press conference earlier today that bankruptcy is still highly probable.

According to Detroit News: General Motors says it will cut 21,000 U.S. factory jobs by next year and phase out its storied Pontiac brand as part of a major restructuring effort needed to get more government aid.

General Motors Corp. launched its bond exchange offer this morning to its holders of $28 billion in unsecured debt, offering them 10 percent of the equity in the company and accrued interest — in an effort to avoid a bankruptcy filing before the end of May.

GM also confirmed the morning it plans to phase out its 83-year-old Pontiac brand by 2010, while it plans a final resolution for its Hummer, Saab and Saturn brands this year.

Good Night, Sweet Pontiac

admin — Fri, 24 Apr 2009 19:10:15 +0000

Rumors are crawling across the Internetz today that General Motors is (apparently) going to order the axing of old school brand Pontiac as early as next week! The idea that Pontiac may be on the chopping block has been an on-again / off-again theory within the auto industry for months. Now it looks like the time has actually come. Good night, sweet Pontiac, and may a flock of angels sing thee to thy grace. Full details in the Automobile Mag article below.

The rumors of Pontiac’s death may not have been so greatly exaggerated this time around.

Inside Line reports it has received word from a source within GM that Pontiac will be axed, the victim of the Detroit automaker’s “faster, deeper” reorganization plan. It was rumored last week that Pontiac would be killed off, along with GMC, but GM issued a statement vehemently denying those reports, repeating its four-core-brands-plus-Pontiac-as-niche mantra.

Inside Line’s source claims that Pontiac hasn’t escaped the noose this time, however, because it is the easiest brand for GM to eliminate: most Pontiac dealers have already been consolidated to Buick-GMC-Pontiac, so losing Pontiac would close few dealers. Details on “faster, deeper,” including the alleged announcement of Pontiac’s death, are supposed to emerge on Monday.

Inside Line called a PR representative for GM, and he was predictably cryptic. “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.” Sounds “officially” negative to us.

Bottom line: hurry up and get those G8s while they’re still around. If this is true, they’re going to be selling at fire-sale prices.

Goodbye Pontiac?

admin — Wed, 18 Feb 2009 20:18:27 +0000

No more Trans Am? No More G6 Coupe? No More Aztek? Hmm…well maybe that last one is a positive. It looks like Pontiac will be gone from the GM line up as a brand, with the symbol remaining on only a few vehicles. Part of the GM Viability Plan is to downsize Pontiac and no longer have it as a stand alone make. Some models will remain under the General Motors brand, possibly in the form of a Chevrolet.

At the same time GM is asking for $16 Billion dollars more from the United States Government in bailout loans. If our favorite Pontiac’s end up not surviving the transfer over to alternative makes, we say be damned General Motors!

The El Camino is Dead (Again)

admin — Wed, 07 Jan 2009 21:07:10 +0000

General Motors and Pontiac grabbed a slew of attention last year when they leaked their ~~El Camino~~ G8 Sports Truck concept. It was like the glory days of van murals and mullets were back in style – and just when enthusiasts expected to see the first G8 on local Pontiac lots, GM pulled the plug. When your are in the middle of a major financial crisis there are no prisoners, only executions.

“With Pontiac being more focused on sporty, fun-to-drive cars, we took a long look at the ST and it didn’t fit with what our future vision of Pontiac would be,” Pontiac spokesperson Jim Hopson said. Guess putting the name “Sport” somewhere in the car title isn’t sporty enough.

Pontiac Left Standing After a GM/Chrysler Merger?

admin — Thu, 16 Oct 2008 01:11:06 +0000

Last week, sources in the automotive industry leaked an apparent month long talk between Chrysler parent company Cerberus and General Motors about possible mergers – or an all over buy out. To date – both Chrysler and GM have remained tight lipped about the subject, stating that they are both speaking with outside financial perspectives – but not naming anyone in particular. If the two automotive giants were to merge it’s safe to say that one, if not many of the makes or specific models may not make the cut. Let’s be honest, in a buy out, not everyone can survive. We feel the beloved Pontiac could survive a merging of the two companies, for two very specific reasons – Solstice and the “El Camino” Sports Truck.

The Pontiac Solstice is one of the only sports cars in a supposed GM-Chrysler line up. Solstice achieves 173-horsepower from its 2.4-liter four-cylinder engine. The GXP’s turbocharged engine produces 260-horsepower as a 2.0-liter four-cylinder. It’s only competition from the CDJ side is Dodge’s Challenger.

The 2010 Pontiac Sport Truck will always be the El Camino to us – even though Pontiac has not used that branding. The sports truck contains a monster Corvette based V8 under its hood. The Pontiac Sport Truck’s 6-liter V8 can do 0-60 in 5.4 seconds thanks to its 361 horsepower. The rear of the vehicle is capable of carrying 1100 pounds, with a 3,500 pound towing capacity. When this vehicle goes on sale in the Summer of 2009 you can expect a price tag of about $28000.

With help from these two enthusiastic and revamped models Pontiac could survive in the long run when it’s time to pick teammates.