General Motors on Monday confirmed rumors regarding the future of its Pontiac division, indicating the storied brand will be eliminated by the end of 2010 at the latest. The company said it will also sell or shut down Saab, Saturn, and Hummer by the end of 2009 or sooner.
GM says it intends to focus on its four core brands: Chevrolet, Cadillac, Buick, and GMC. CEO Fritz Henderson said speculation about the elimination of Buick and GMC is illogical given the profitability of these divisions. Henderson indicated GM will offer a total of 34 models in 2010, a reduction of 29 percent from 48 on sale in 2008
Regarding Pontiac, some models will disappear sooner than others. GM will kill the G8 sedan by the end of 2009, while the Vibe — which is manufactured alongside the Toyota Matrix — will live on until the end of 2010. Henderson indicated GM is in talks with Toyota over selling its stake in Vibe/Matrix manufacturing.
Sucks to see the G8 go. That was one of the only new GM cars that I liked. At least Tommy got his nice new GXP V8 Grand Prix before the end.