Report: GM may kill or sell Pontiac, Saab, and Saturn

According to a report by Bloomberg, GM is considering dropping Pontiac, Saab and Saturn as a way to cut costs and to increase the chance of the Detroit Big 3 getting $25 billion in federal loans. Bloomberg cited anonymous sources that said GM is considering eliminating or selling the brands to help it avoid running out of money – which it recently said could happen as soon as the second-quarter of 2009.
No GM spokesperson has commented on the report as of yet but it is widely believed that the move could be included in the restructuring plan GM will submit to Congress on Tuesday. Congress had asked Mulally, Wagoner and Nardelli to come up with a plan that would display that the company’s would become profitable enough to repay the $25 billion in federal loans.
GM has already announced that it is selling its Hummer brand. We’d love to hear what you think – so let us know what you think of this report and whether GM should sell the brands listed.
Follow the jump and hug it out in the comments section.
Source: Detorit News
Related Posts:
- Report: GM agrees to sell Saturn to Penske Automotive Group
- GM may sell its Pontiac Solstice, Saturn Sky business
- Miscellaneous Thoughts: Renault looking to buy Saturn, Geely puts out a bid for Saab, Ferrari opens store in UK
- Report: General Motors may kill Pontiac and GMC
- GM to show Treasury viability by Feb. 17, has no idea what to do with Hummer, Saab, Saturn
-
Dustin Spino
-
cloud
-
Natgjr.
-
Jim
-
neil
-
Bobmarley
-
Michael
-
buxie
-
ty
-
gus the grouter
-
Jeff
-
kuvakas
-
MIKE JAMES
-
zermatt
-
Titan
-
Alex
-
zermatt
-
concerned

