General Motors’ famous brand Pontiac brand may be announced to be eliminated early next week, was reported last Friday by Automotive News, citing a source familiar with the company’s plans. However, GM indicated that the closure rumor is just media’s speculation. According to the report, this announcement about Pontiac’s destiny will be made as part of an updated viability plan to the US auto task force. In the restructuring plan submitted on Feb. 17, GM had planned to keep Pontiac along with mainstream brands Buick, GMC, Chevrolet and Cadillac while Saturn, Hummer and Saab are up for sale. The US Treasury Department granted US$2B last Friday to keep GM operating. GM has been staying alive with US$13.4B in loans granted last December by the Bush administration. GM defined the report of Pontiac’s potential closure as pure “media speculation”. In a statement released Last Friday, the carmaker giant said “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.” Established in 1926 and as a division of GM, Pontiac manufactures vehicle types including the sports car, sedan, crossover and sports wagon.
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