Sad day. GM to end Pontiac Brand

[ClearlyCoated]

GM to cut 21,000 US factory jobs, shed Pontiac

By TOM KRISHER and KIMBERLY S. JOHNSON, The Associated Press

DETROIT — General Motors Corp. could be majority owned by the federal government under a massive restructuring plan laid out Monday that will cut 21,000 U.S. factory jobs by next year and phase out the storied Pontiac brand.

The plan, which includes an offer to swap roughly $27 billion in bond debt for GM stock, would leave current shareholders holding just 1 percent of the century-old company, which is fighting for its life in the worst auto sales climate in 27 years.

GM is living on $15.4 billion in government loans and said Monday in a filing with the U.S. Securities and Exchange Commission that it envisions receiving an additional $11.6 billion. But if GM's restructuring plan can't satisfy the government by June 1, the struggling company could go into bankruptcy protection.

GM said that it will ask the government to take more than 50 percent of its common stock in exchange for canceling half the government loans to the company as of June 1. The swap would cancel about $10 billion in government debt.


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[Murr1525]

Re: Sad day. GM to end Pontiac Brand

Once they made the Aztec, it was over.....

[Fischer]

Re: Sad day. GM to end Pontiac Brand

Once they made the Aztec, it was over.....

And the G3,G5 and G8 GXP

Those we all horrible ideas, but I understand where they are coming from. The g8 gxp was doomed to end up like the GTO. They're nice cars but with a 40k price tag people would rather have something else.

G3, rebranded Aveo
G5, basically a cobalt.

I own a G6 and I can honestly say it is a one of a kind car, no other car looks like it. Sure the engine is the same as the malibu but thats about it.

Its a shame to see pontiac go like that, I guess prices will drop on all cars as well to get them off the lot.

[Andrew C.]

Re: Sad day. GM to end Pontiac Brand

Once they made the Aztec, it was over.....

[Deaner5]

Re: Sad day. GM to end Pontiac Brand

I was holding out hope to upgrade my 2001 Grand Prix to a 2012 or so Grand Prix when the G8 would have fallen out of favor. Plus when they got rid of the Grand Prix in I think either 07, 08 or 09, it just kind of left a void in the line-up.

I mean the G6 just seems too small and like a Grand Am which another name and the G8, looks fine, but if who wants a V-8 for a daily driver.

There's my rant for the day. My 01 just went over 85,000 the other day and I am probably going to end up keeping it for a while or eventually upgrading to an 04-08 Acura TL. We'll see.

[Agent 99]

Re: Sad day. GM to end Pontiac Brand

I saw this coming when I saw a sunfire for the first time.

Seriously, have you ever really looked at the back of a sunfire? :barf:

[Maserati Mario]

Re: Sad day. GM to end Pontiac Brand

Very sad!
I don't like Pontiacs but that's still sad to see it go
Maybe someone will by it

[ClearlyCoated]

Re: Sad day. GM to end Pontiac Brand

Once they made the Aztec, it was over.....

The futuristic multi-use SUV featured in "Dark Angel"???

Jessica Alba saved that GM albatross!

[Erik Mejia]

Re: Sad day. GM to end Pontiac Brand

The age of the Pontiac Muscle cars are long gone, and so has the popularity of the line.

[Markus Kleis]

Re: Sad day. GM to end Pontiac Brand

The real question is... what happens to the G8? That's a SICK car. Easily the sweetest Pontiac in a LONG time. I'm guessing Chevy will pick it up...

[Bounty]

Re: Sad day. GM to end Pontiac Brand

I really think the beginning of the end came at the close of the latest round of "Pony Car Wars" with the demise of the Camaro/Trans Am. Chevrolet was able to absorb the loss of that market share by catering to the upper class of buyer with their tiered Corvette line: C6, C6 Z51, C6 Z06, and now the ZR1. You can drop in and pick up a Vette in any flavor from $45k to $100k with class and price range setting performance. Those wanting a Chevy with a smaller price tag or sport compact buyers could always step into a supercharged Cobalt SS.

Ford has the same range in the next lower pricing bracket for its Mustang: V6, GT, GT500, etc. Dodge played off namesakes with their Charger and Challenger in plain-jane to pumped up SRT versions. They made an impact in the sport compact market with the pocket rocket Neon SRT4. And of course they stayed true to the big dog with the Viper.

Pontiac just wasn't a player in this market and seemed to go a more "edgy" route with the G3 and G6. The Aztec was a horrible interpretation of the small SUV or crossover vehicle. Chevrolet, Dodge, and Ford all have extremely viable lines in their full-size trucks, SUV's, and big diesels but once Pontiac stepped away from its sports car heritage and abandoned the GTO it was left with no real identity.

Sad to see it go and there's the feeling that seemingly something isn't right when there's a Camaro out there but no Firebird to match. I guess when you take a good, long look at the line-up there is nothing that really stirs the emotion to have to have any of them and that's how it ends for an historic brand...

[J. A. Michaels]

Re: Sad day. GM to end Pontiac Brand

Sad to see the line go. For me, when I think of Pontiac, I think of the muscle cars. When they got away from that, It seemed like the future was in doubt. Just like the Oldsmobile's. Hopefully this move will help GM.

[IMSHAKN]

Re: Sad day. GM to end Pontiac Brand

The goat and a number of awesome cars to have come down the assembly lines of Pontiac shall rest in peace. Hope to see it reborn in the hands of GM someday.

For what it's worth I've enjoyed my father's Pontiac Solstice as with it's little turbo and nicely tuned suspension it makes for a fairly fun little car.

[ColonelCash]

Re: Sad day. GM to end Pontiac Brand

I'm holding onto my '95 TransAm, might actually look at picking up another in the coming months.

[J. A. Michaels]

Re: Sad day. GM to end Pontiac Brand

I'm holding onto my '95 TransAm, might actually look at picking up another in the coming months.

Not a bad idea. Get em and hold on to them, before prices spike.