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General Motors announced recently that the company would be shutting down its iconic Pontiac brand, choosing not to find a buyer for it. Unlike Saab, Saturn and Hummer which are on the market, GM has chosen to do to Pontiac what it did to Oldsmobile earlier this decade: close down one of the most storied names in all of autodom.
Selling Pontiac: Mixed Reactions
The move to shut down Pontiac has received mixed reactions. Some people feel that GM has too many brands and that shutting down Pontiac, Saab, Saturn and Hummer would go a long way toward helping the automaker focus on its core brands of Cadillac, GMC, Buick and Chevrolet. Others aren't that confident that GM is making the right decision, believing that Pontiac should be spared even if the number of models the make sells is greatly reduced.
In the immediate aftermath of GM's announcement to close down Pontiac by the end of 2010, a group of car dealers has announced that they are interested in purchasing Pontiac from GM, but the automaker says that they are not interested in selling it. Specifically, a group of dealers led by a Michigan dealership wanted to purchase the Pontiac name, but not any of its products. Every vehicle sold by Pontiac is also sold by other US divisions or imported to the US from GM operations in South Korea and Australia.
Dealer Network Proposes To Purchase Pontiac
Published reports have indicated that this dealer - Waldron Pontiac, Buick and GMC in Davison, MI - has offered to buy Pontiac with the purpose of also buying closed down factory space in the US and hiring their own workers. From there, the dealer group would build a new line of Pontiac vehicles which they would sell through their own network.
GM insists that Pontiac isn't going to be sold, choosing to simply shut down the iconic automotive brand. No reason has been given by the automaker for not entertaining an offer, but it could have something to do with GM simply wanting to retire the historic brand while preserving its history. Saab, Hummer and Saturn don't have the same mystique to the automaker and are still for sale. However, if these brands aren't sold by the end of this year, then they are expected to shut down too.
Though GM has taken this approach with Pontiac, that could all change if the company does file for bankruptcy. Pontiac is a valuable asset, one that could be worth a lot more to creditors sold off than retired. With that in mind, a bankruptcy judge could push GM to accept Pontiac's sale, quickly changing the automakers plans once again.
Matthew C. Keegan is a freelance writer who resides in North Carolina. Matt is a contributing writer for Andy's Auto Sport an aftermarket supplier of quality parts including Pontiac wheels and Pontiac rims.
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