GM's Restructure Plan: Kill Off Saab, Pontiac, Saturn

Motoring Channel Staff - 28/November/2008

Detroit, America — Just as the latest reviews of the VE Commodore-based Pontiac G8 GXP in America are comparing it to the BMW M5 (but with better steering!) news has emerged in the financial press that General Motors is considering selling or even killing off Pontiac.

Other brands such as the American-only Saturn and global Saab brands are also being considered for early retirement or sale as GM looks for ways to restructure its business and slash costs.

The CEO's of Ford, General Motors and Chrysler, America's big three automakers, last week met with the politicians in Washington seeking a $25 billion dollar rescue package. 

They were told that if they can still fly in their private jets they can look elsewhere for help.

But after being berated for their excessive lifestyles, the auto industry bosses were later told that if they can come up with a solid business plan by December, one that restructures their business, congress would be more willing to help.

Sources close to General Motors say that its top minds are working day and night on a restructuring plan in order to appease a skeptical government and the Saab and Pontiac brands are being singled out as expendable.

This could have ramifications for GM Holden here in Australia as it supplies Pontiac with its G8 models, which are based on the Holden Commodore. 

There are also plans in place to ship the Holden VE Ute to the States to be rebadged as a Pontiac.

Detroit's big three car company's will present their new plans to the U.S. congress on December the 5th, and we'll keep you posted with the outcomes.

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