GM Kills Pontiac - Focuses on Boring Brands - Automoblog.net
GM Kills Pontiac - Focuses on Boring Brands
GM announced today that they will be phasing out the
Pontiac brand by the end of 2010. This news came right after they announced they will also be cutting 21,000 hourly jobs and reducing their dealer count by 42% within the same time frame. This, in an effort to stay out of bankruptcy, of course.
This action will allow General Motors to devote its limited capital and other resources to GMs four core brands: Chevrolet, Cadillac, Buick and GMC. So GM wants to kill off the only brand that made them look even slightly sporty and exciting, and focus on the oversized and ultimately boring brands.
NEW YORK - General Motors Corp. took a key step toward its downsizing on Tuesday, striking a tentative deal to sell its Hummer brand to a Chinese manufacturer, while also revealing that it has potential buyers for its Saturn and Saab brands.
Chinas Sichuan Tengzhong Heavy Industrial Machinery Co. said Tuesday afternoon that it reached an agreement to acquire the brand from GM for an undisclosed ammount. The Detroit automaker had announced Tuesday morning that it had a memorandum of understanding to sell the brand of rugged SUVs, but it didnt identify the buyer.
Sichuan Tengzhong deals in road construction, plastics, resins and other industrial products, but Hummer would be its first step into the automotive business.
Do you wanna no how many plants Gm has in china how many plants Ford is Building in china or are in process of building them in china with partnership with chinese manufacturer i will be more then happy to share the information iam allowed to share with you.