GM to pull the plug on Pontiac

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Source: CNNMoney

By Peter Valdes-Dapena, CNNMoney.com senior writer
Last Updated: April 24, 2009: 3:08 PM ET

NEW YORK (CNNMoney.com) -- General Motors is preparing to announce that the Pontiac car brand, once marketed as GM's "Excitement division," will be killed off, according to a source familiar with the decision.

An official announcement is expected Monday. GM spokesman Jim Hopson declined to comment on Pontiac's fate, saying the automaker has no announcements to make at this time.

In its most recent "viability plan" - which will be updated to reflect this new brand cut - Pontiac was not named as one of GM's four "core brands." Those are Chevrolet, Buick, GMC and Cadillac. But Pontiac was also not to be killed or sold off, as were Saturn, Saab and Hummer.

Instead Pontiac was to continue on as a "niche brand" focusing on just a few models.



Read more: http://money.cnn.com/2009/04/24/autos/pontiac_obit/index.htm?postversion=2009042414