Government / Industry

GM Announces Layoffs and Death of Pontiac

GM Announces Layoffs and Death of Pontiac

This morning, GM announced they were cutting 21,000 jobs and getting rid of Pontiac. Plans are in place to close more factories as the automaker fights to avoid bankruptcy.

GM has been surviving on on $15.4 billion in government loans and revealed 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. The company also made an offer to bondholders to exchange of $27.2 billion of bonds for common stock.

The death of Pontiac, as well as GM’s decision to cease production on Saturn and Hummer brand vehicles after the 2009 model year, leaves GM with four core brands: Chevrolet, Buick, GMC and Cadillac.

View Comments (8)

8 Comments

  1. thomas jones

    April 27, 2009 at 10:39 pm

    my god be with the people and there families. not the goat and t/a and grand prix. man dang! wow that heavy.

  2. Susan Dufrene

    April 28, 2009 at 3:57 pm

    Will they offer us an exchange program for those of us owning a Pontiac currently? That would be a great option for those of us who are uncomfortable with owning an automobile that is no longer in business and no dealerships exist. At what point do we begin to worry about service parts?

  3. mike d

    April 28, 2009 at 5:53 pm

    the only redemption in killing pontiac would be to use the g8 platform for the new impala/impala ss. then CHEVROLET would have a real competitor for the bmw 5 series… can you imagine?? and maybe use a modified g6 as a malibu coupe?? and the solstice MUST live on as something!!

  4. Robert

    April 29, 2009 at 4:08 am

    Gee,

    Now we are left with entry-level Chevrolet and their unaffordable Corvette, and a Camaro that looks like a pregnant version of a ’69. We are left with Buicks that are synonymous with the over-the-hill gang and golfers, Cadillacs that none of the common folk will ever drive, and what GMC car is there? Only trucks.

    Pontiac stood for the young-at-heart. Their innovations in the automotive industry were unmatched. First production car with cold air induction, first to offer Hurst 4-speed trannys, first with endura bumpers, and first with the wide-track approach. Their multiple carburated GTO’s were ahead of their time. Almost every pontiac ever offered to the general public was a performer, be it a 428-powered Bonneville or a weber-carburated overhead cam six-cylinder, Pontiac stood for affordable performance. Just when the GTO had been re-born, and the G8 was ready to stomp on all the imports….this happens. GM is responsible for letting down hundreds of thousands of people who bought GM products only because of the existence of Pontiac.

    I will never plunk down my hard-earned cash for a GM product again.

  5. Carl

    May 1, 2009 at 4:32 am

    The demise and ultimate death of Pontiac will be the downfall (in the long run) for General Motors. Just yesterday, we conducted a survey in our parking lot here at work, and found 1 Buick. There were however; 17 Pontiacs parked outside. Does that tell you something?

    I’ve owned almost all brands of GM products. Oldsmobile, Buick, Cadillac and Pontiac. The best cars of that bunch were my Pontiacs.

    If Buicks are big sellers in China, then sell those folks that division.

    Ending the Pontiac brand is almost as bad as turning your backs to the Stars and Stripes.

    Very bad move General Motors. Your loyal customers, folks that had planned and saved for a better Pontiac – will now go elsewhere.

  6. Rob Bush

    June 3, 2009 at 6:13 am

    Susan, you won’t need to worry about parts for your car. The parts business is the most profitable part of the automobile industry. Even if it isn’t GM that makes them, companies will continue to provide parts as long as you drive your car.

    Also, GM has already told us that other GM dealers will service the discontinued cars. They WANT to keep you coming to a GM dealership because, as I said, the parts business is profitable.

  7. Karl

    June 3, 2009 at 5:48 pm

    Getting rid of my own pontiac NOW was the best solution I came up with. I had a 2009 Vibe purchased in September. I just traded it in for a Nissan Rogue–a far superior but not much more expensive vehicle. Because it was almost new I got a pretty good trade-in. Wait and any residual value will go down the tubes.

    I agree that I will never buy another GM vehicle and that they got rid of the most interesting brand they had left.

  8. B. Serell

    May 30, 2010 at 8:27 pm

    Why keep Buick and dump Pontiac?
    I’d rather buy a Pontiac than a Chrome Plated Geriatric Buick. Who cares if Buicks the hottest thing in China it sure as heck isn’t here except with the over 60 crowd. Drop Buick here and keep them going in China. Locally the G8’s are selling good compared to the Buick models.
    Pontiac has out sold Buick in the US! I own two Pontiac’s a Grand Prix Comp G and a Bonneville SSEi. I am not sure what to buy next. I will not buy Chevy or Buick.

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