Ad Radar
High Performance Pontiac
Click here to find out more!

Now it all makes sense...why Pontiac got the axe

  
High Performance Pontiac
Item Posts    Sort Order

Now it all makes sense...why Pontiac got the axe

 
pattigp67 pattigp67
Enthusiast | Posts: 557 | Joined: 05/09
Posted: 11/01/13
08:40 AM

I always wondered why Pontiac got the ax when I always read it was one of the top selling cars.  Well, the ugly truth is finally coming out. This is from msn.  Imagine, more government control. This is the article:

Bob Lutz: Feds told GM to drop Pontiac for bailout
New details on Pontiac's death emerge from the outspoken former GM chairman.

When General Motors began dismantling Pontiac alongside Hummer, Saab and Saturn in 2009, little besides the auto giant's impending bankruptcy was given as reason to destroy the once-iconic brand of affordable, performance vehicles.

But over the last weekend, former GM chairman Bob Lutz — the man behind Pontiac's last hurrah, the G8 sedan and Solstice roadster, as well as the Chevrolet Volt — told a small crowd at the Petersen Automotive Museum in Los Angeles that the government told GM that it either sacrifice Pontiac or the billions in cash it was about to serve up.

“When the guy who’s handing you a check for $53 billion says 'I don’t want Pontiac,' or 'Drop Pontiac or you don’t get the money,' it doesn’t take you very long to make up your mind,” Lutz said. “But I think it is a shame. Pontiac was on its way back. It was killed before the plant could really sprout and blossom. It was well on its way.”

GM eventually received $49.5 billion in return for a 61 percent stake by the U.S. Treasury, along with plenty of other federal mandates such as caps on executive pay. According to Lutz, Pontiac didn't make any money between 1999 and 2009, and so the Obama administration's task force — he didn't name specific people — told him that the brand had to go.

Interestingly, the feds also wanted Buick and GMC to go, but GM convinced them that with Buick's prominence in China and GMC's uncanny ability to convince truck buyers to overpay for Chevrolets, they had to stay.

Had Pontiac survived, it would have turned into a smaller, "very attractive U.S. alternative to some of the . . . European rear-wheel-drive cars,” according to Lutz. The next-generation Pontiac G6, for example, would have been based on the current Cadillac ATS. Plus, the Firebird almost certainly would have returned in full Trans/Am glory.

“We were embarked on a strategy to make Pontiac different from the rest of GM in that Pontiac would not get any front-wheel-drive cars. It would all be rear-wheel drive,” he said.

While Pontiac was better known for monstrosities such as the Aztek SUV and for rebadged GM sedans with excessive body cladding, the brand was indeed on a comeback in its last years. But — like everything GM did at that time — it was too little, too late.  

Darkitec Darkitec
User | Posts: 130 | Joined: 03/10
Posted: 08/07/14
03:51 PM

Lutz wanted to keep Pontiac, the other reason he got fired was he had the balls to tell President Chia Pet that he was sick and tired of hearing about this phony Global Warming B.S.