GM is to end the Pontiac line of autos.
General Motors Corp., facing the threat of a bankruptcy filing if it can’t meet a June 1 U.S. deadline, will preserve the GMC truck line and drop its 83-year- old Pontiac brand as part of a government-led recalibration of its business plan, people familiar with the decision said.
The Detroit automaker will keep the GMC, Chevrolet, Cadillac and Buick brands, after a review that included profitability with the Obama administration’s automotive task force, said the people, who asked not to be named because the decisions have not been announced. GM may reveal next week the end of the make that produced the Grand Prix, Bonneville and Firebirds, they said.
So, is the Pontiac a political casualty to green jobs? The reason I ask this is the quote:
“Pontiac was the first real muscle car and the government doesn’t want muscle cars,” favoring fuel-efficient models, Wolkonowicz said. “I’m sad to see this brand go, it’s truly iconic.”
For killing the Pontiac, GM just got $2 Billion more in bail out money.