Saturday, April 25, 2009
Closure of Pontiac shows GM still doesn't get it
Speculation that General Motors plans to kill off its Pontiac brand instead of trying to revitalize it with new models and better values is an indication that the country's largest automaker is still locked-in on a highway to failure. With new leadership at the top and billions of dollars in federal loans, General Motors should be making plans to build better, more-attractive cars across all of its divisions. Instead, the automaker is trying to suck the remaining life out of itself as it careens toward bankruptcy. An official announcement about Pontiac's fate is expected as eartly as Monday, according to Cable News Network (CNN). A GM spokesman, Jim Hopson, declined to comment Saturday on the future of the Pontiac brand, saying the automaker was not prepared to comment at this time, CNN said. Pontiac was GM's third-best selling brand last year, outselling Cadillac and Buick. But Cadillac is the corporation's most-profitable brand and Buick is very popular in China, CNN said. Pontiac once built GM's most exciting vehicles, from the high-performance GTO to the flashy Firebird. The 1964 Pontiac Tempest LeMans GTO is credited with creating a new class of American car, the muscle car.