Pontiac closes down business

By on Nov 1, 2010 in Automobile, Business, Current Events, Headlines, World Comments

Pontiac Grand Am GT Sedan

Pontiac is out! The US carmaker will be closing down its curtain due to continued decline in sales. Pontiac was greatly affected by the current situation of its parent company, General Motors (GM),  that is in restructuring mode since last year.

Pontiac was a brand of car that started to be manufactured in 1926, and popularized models like the Bonneville, GTO and Firebird TransAm. Most Pontiac cars are featured in Hollywood films in the 60’s and 70’s. The American car hit its highest record sales of one million units in 1968. However, during the 1980’s, Pontiac sales started to decline and ultimately got affected by GM‘s financial woes. GM announced in April 27, 2009, that it would phase out Pontiac by end of 2010.

Pontiac was originally sold only in the United StatesCanada, and Mexico by GM. Pontiac has been marketed as the performance division of General Motors that specializes in mainstream performance vehicles.

GM will now only market its topnotch and bestselling brands in North AmericaChevroletCadillacBuick, and GMC.

Source: International News Sites

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