Pontiac is DEAD. 4/27/09 GM kills the brand. R.I.P.
04-26-2009, 11:30 AM
#22
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I am also curious about incentives. It could go in either direction I think. Either it's "fire sale" time. Or based on the fact that the supply will be basically nothing, and demand is still there...may be pricing stays firm.
04-26-2009, 12:08 PM
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Well I'm 99% sure Pontiac is fine for now. And like someone said before, it's not gonna be an overnight killing. So I see what they have going for May would have to be as good or better than what they had for April. A dealer I talked to said they sold a lot of cars when they had the dealer cash. I would hope they would redo that.
04-26-2009, 02:30 PM
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I've seen where an annoucement is expected tomorrow (4/27/2009). The CNN story is here: http://money.cnn.com/2009/04/24/auto...obit/index.htm
"GM to pull the plug on Pontiac
The brand credited with originating the muscle car will no longer be part of GM's future, according to a source."
That really sucks! My first car was a '71 firebird, and I was hoping they would revisit the bird. I would have pulled the trigger on one, no matter what it took to do it.
"GM to pull the plug on Pontiac
The brand credited with originating the muscle car will no longer be part of GM's future, according to a source."
That really sucks! My first car was a '71 firebird, and I was hoping they would revisit the bird. I would have pulled the trigger on one, no matter what it took to do it.
Last edited by scottp999; 04-26-2009 at 02:59 PM.
04-26-2009, 06:16 PM
#26
Its gonna be worse for the ones who actually paid full sticker price when they came out a year ago. The resale will probably fall considerably. There are probably many g8 owners who did some long term financing with little down. They may owe thousands more then the car will be worth after gm makes the announcement tomorrow. So, I don't know if I'd just run out and buy one just to get a good deal. That might be a bad deal in the long run. I paid too much, but, I was one who paid a bunch down so I'm not sitting on a big loan thats more then the car is worth. So, buyer beware. These are great cars and I love mine, I been pretty loyal to gm and probably will be for a while. That could change.
04-26-2009, 06:31 PM
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I will be rushing out. I'll also be putting $10k down. But I'll also be keeping it for a long time so the resale isn't that big of a deal for me. I just want a good deal.
04-27-2009, 08:14 AM
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The head of GM is making his speech right now on CNBC. Already mentioned the phase out of pontiac. What a shame. He said it was a "tough decision". I'm sure the video will be up on the cnbc web site soon after. Dealer cuts for GM will deepen and be accelerated. Objective is four strong core brands.
04-27-2009, 08:32 AM
#30
GM struggles to avoid Chapter 11
The automaker is killing the Pontiac line and shutting down plants. The swine flu epidemic hurts global stocks. Lawmakers widen the investigation into Bank of America.
[Related content: stocks, investments, stock market, financial crisis, economy]
By Andrew Rosenbaum
In its struggle to avoid bankruptcy, General Motors (GM, news, msgs) is killing off the Pontiac brand, along with Hummer and Saturn, closing more plants and cutting 21,000 jobs.
Dealers will be cut from 6,246 to 3,605.
The automaker is still battling fiercely with creditors and unions as it desperately seeks to complete its business plan before May 31.
* Top Stocks blog: GM to kill Pontiac line
GM's announcement today may further shake the nerves of rattled investors. Stock index futures indicate that U.S. markets will open sharply lower today.
http://articles.moneycentral.msn.com...ispatch_090427
Here is another article on MSN that basically says the same thing but adds additional brands that will be shut down.
The automaker is killing the Pontiac line and shutting down plants. The swine flu epidemic hurts global stocks. Lawmakers widen the investigation into Bank of America.
[Related content: stocks, investments, stock market, financial crisis, economy]
By Andrew Rosenbaum
In its struggle to avoid bankruptcy, General Motors (GM, news, msgs) is killing off the Pontiac brand, along with Hummer and Saturn, closing more plants and cutting 21,000 jobs.
Dealers will be cut from 6,246 to 3,605.
The automaker is still battling fiercely with creditors and unions as it desperately seeks to complete its business plan before May 31.
* Top Stocks blog: GM to kill Pontiac line
GM's announcement today may further shake the nerves of rattled investors. Stock index futures indicate that U.S. markets will open sharply lower today.
http://articles.moneycentral.msn.com...ispatch_090427
Here is another article on MSN that basically says the same thing but adds additional brands that will be shut down.
04-27-2009, 09:07 AM
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Here is the video annoucement from F. Henderson:
http://www.cnbc.com/id/15840232?video=1104546268&play=1
http://www.cnbc.com/id/15840232?video=1104546268&play=1
04-27-2009, 12:01 PM
#36
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sad GM to cut 21,000 US factory jobs, shed Pontiac
http://www.edmunds.com/insideline/do...ticleId=146706
Pontiac Is Dead
Date posted: 2009-04-23 12:26:00.0
STORY TOOLS
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DETROIT — According to a source at General Motors, the company will announce next Monday its new "faster, deeper" reorganization plan, which will likely include a death sentence for the Pontiac brand.
Inside Line called Tom Wilkinson, news relations PR man for General Motors, who said: "There's nothing I can share with you at this time. Keep your eyes on our media site. Officially, nothing has changed with Pontiac's niche-brand status, until you hear differently."
The one-time "Excitement" division and creator of legends such as the GTO and Firebird was relegated to "niche" or "specialty" brand status by General Motors in its first viability plan in December of last year.
The company toyed with competing proposals to either turn the brand into GM's version of Scion or to make Pontiac a very focused purveyor of performance cars based around the critically well-received G8. But ultimately, Pontiac was chosen as the easiest to kill since it was cut from GM's self-defined herd of four "core brands," Chevrolet, Cadillac, GMC and Buick. Most Pontiac franchises have already been combined with Buick and GMC.
If true, Pontiac will join Saab, Saturn and Hummer as brands that will not survive GM's current troubles — at least not as a component of General Motors.
Inside Line says: Just as the G8 reawakened our interest in 83-year-old Pontiac, the brand falls victim to bad times and old mistakes. — Daniel Pund, Senior Editor, Detroit
Just my luck.
The 1st time in my life I decide to buy a Pontiac, GM kills the brand.
What does this mean for the future of the G8 in the U.S.???
Pontiac Is Dead
Date posted: 2009-04-23 12:26:00.0
STORY TOOLS
Digg this storyDigg this!
del.icio.usdel.icio.us
DETROIT — According to a source at General Motors, the company will announce next Monday its new "faster, deeper" reorganization plan, which will likely include a death sentence for the Pontiac brand.
Inside Line called Tom Wilkinson, news relations PR man for General Motors, who said: "There's nothing I can share with you at this time. Keep your eyes on our media site. Officially, nothing has changed with Pontiac's niche-brand status, until you hear differently."
The one-time "Excitement" division and creator of legends such as the GTO and Firebird was relegated to "niche" or "specialty" brand status by General Motors in its first viability plan in December of last year.
The company toyed with competing proposals to either turn the brand into GM's version of Scion or to make Pontiac a very focused purveyor of performance cars based around the critically well-received G8. But ultimately, Pontiac was chosen as the easiest to kill since it was cut from GM's self-defined herd of four "core brands," Chevrolet, Cadillac, GMC and Buick. Most Pontiac franchises have already been combined with Buick and GMC.
If true, Pontiac will join Saab, Saturn and Hummer as brands that will not survive GM's current troubles — at least not as a component of General Motors.
Inside Line says: Just as the G8 reawakened our interest in 83-year-old Pontiac, the brand falls victim to bad times and old mistakes. — Daniel Pund, Senior Editor, Detroit
Just my luck.
The 1st time in my life I decide to buy a Pontiac, GM kills the brand.
What does this mean for the future of the G8 in the U.S.???
04-27-2009, 12:45 PM
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People AVOID buying cars that do not have a warranty.
...that is why Uncle O'Bama plans to use your tax dollars to back up the GM factory warranty on all models including the now defunct Pontiac.
Anyway, when Oldsmo-bubble went pow, their resale value went Pow too. Unfortunately, Uncle Sam can do nothing on this point.
...that is why Uncle O'Bama plans to use your tax dollars to back up the GM factory warranty on all models including the now defunct Pontiac.
Anyway, when Oldsmo-bubble went pow, their resale value went Pow too. Unfortunately, Uncle Sam can do nothing on this point.
