General Motors announced today in a press conference that the Pontiac brand will be dead by 2010. This decision was taken in the context of the current global financial crisis and this is not the only extreme measure taken by the American giant. GM also announced it will close almost half of its dealerships by 2014 in an effort to become a more cost efficient company and to focus its attention more on its customers.
Fritz Henderson said the company will make all the possible efforts to minimize the effect of these decisions on its employees, dealers and suppliers.
Killing Pontiac and reducing the number of dealerships are part of GM's program to become eligible for another loan from the U.S. government. The two measures will result in a loss of around 7,500 jobs.
[Source: Automarket]
