GM Maintains Suspense, Still No Decision on Pontiac Axing

Pontiac's fate is still undecided, American car giant General Motors said today, denying all media reports claiming that company plans to kill this particular unit and keep GMC as part of a broader campaign to save costs and comply with government requests. Just as we told you last week, a bunch of rumors coming from more or less authorized sources said General Motors already decided to cut Pontiac, with an official decision expected to be announced today.

Nevertheless, instead of a statement to confirm the speculation, General Motors left things pending, saying that the company is still considering its options and a decision will be announced as soon as available. Is this a result of the $2 billion loan approved by the US Treasury? We'll just have to wait and see.

Here's what General Motors commented on the subject:

"Contrary to media speculation, General Motors has not announced any changes to its long-term viability plan or to the future status of any of its brands. GM is continuing to review its restructuring plan to go further and faster and best ensure its future success. Additional information will be released as any decisions are finalized."

According to a reported by the Detroit News, General Motors plans to inform members of the Congress about the decision to discontinue Pontiac today. Additionally, the company would also prepare more job cuts and permanent plant closures as a direct result of the Pontiac killing.

Contacted by Inside Line last week, GM's PR Tom Wilkinson also refused to comment on the subject. "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," he said.