Looks like General Motors isn?t going to lightly take the speculation that its Pontiac division is ear-marked for oblivion. GM released a media statement over the weekend, which, although short and sweet, makes a strong point about the future plans for the company.
The whispers that GM would be pensioning off its ?excitement division? took very little time to spread into big news. As part of its campaign to ensure the truth about its future is clear, GM released a brief statement to clarify the situation and halt the rumour mill.
The statement says:
"Contrary to media speculation, General Motors has not announced any changes to its long-term viability plan or to the future status of any of its brands. GM is continuing to review its restructuring plan to go further and faster and best ensure its future success. Additional information will be released as any decisions are finalized.?
GM has also received a further USD $2 billion (AUD $2.8 billion) in financial assistance from the US Government. The loan is designed to assist the car maker to maintain liquidity during its restructuring process.
While the future of Pontiac remains secure for now, the marque is being shifted to a niche brand, leaving the mainstream market to GM?s Chevrolet, Cadillac, Buick and GMC divisions in the US.
Hummer, Saab, Saturn and Opel/Vauxhall are all currently up for grabs as the company desperately tries to pare itself down to a more profitable entity.
GM still has a long road ahead of it if it is to recover and the current volatile market means that the US giant may alter its strategy at any time. Time will tell whether Pontiac survives the storm.