It seems that no news about General Motors is now good news. The company has suffered a lot of set backs in the past 1 year because of economic recession. At times, we heard about its possible bankruptcy and some how, it stayed alive until now. Well, Pontiac is one of its car models and although the company is going to survive for the time being, this brand wont. It is going to die on Monday. If it happens then it will be the end of a glorious chapter for GM. Pontiac has a long tradition and history. It is long running car that has entertained many people in the USA over the years. It seems that in order to survive GM needs to shed some more plants and some more brands like this one.
It has happened at a time, when GM is going to get $2 billion from US government in order to ensure the survival of the company. In fact, there is some speculation that General Motors may receive $5 billion in short-term aid. So, you may wonder why the company is shedding off its Pontiac brand model car. The reason is simple. GM is in deep crisis and under huge debt.
No comments:
Post a Comment