It seems the rumors were true after all. In a press conference held yesterday, GM CEO Fritz Henderson confirmed that the automaker will phase out its Pontiac brand by the end of 2010. This is something we saw coming, dedicating a whole article on why Pontiac, as it was, didn’t have a good reason to exist (see here).
Given that Pontiac had recently introduced some highly competitive products, such as the phenomenal G8 GT, we are definitely sad to hear this news. But desperate times call for desperate actions. We’re just wondering if a car like the G8 will still be around in GM’s lineup.
Pontiac’s demise wasn’t the only bad news Fritz Henderson had to share. According to him, GM will also be cutting 21,000 U.S. factory jobs by next year in an effort to cut costs. He also said the automaker will cut its U.S. dealerships from 6,246 in 2008 to 3,605 to allow “a more competitive dealer network and higher sales effectiveness in all markets.”