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General Motors Gives Up Some Brands |
General Motors realizes it cannot survive in the current situation if it will not have some changes in the structure, so one of the major decisions was the elimination of the brands that don’t bring much profit. The manufacturer plans to keep Chevrolet, Cadillac, Buick and GMC, but Pontiac, Saab, Saturn and Hummer are going to leave the company.
General Motors has been talking about Hummer sale since summer when the fuel prices went high and the sales of the gas-guzzlers dropped. At that time expensive Hummers lost half their value and were selling for a price of an ordinary sedan. Although GM is ready to sell Hummer there has been nobody wanting to purchase it.
Saturn is an American version of the German Opel and British Vauxhall and if in the beginning GM planned to eliminate Saturn, but keep the European branch, there have been talks the German government wants to nationalize the brand to prevent the growing unemployment caused by GM at the Opel headquarters and plants.
Saab has been owned by GM for 8 years, but the manufacturer doesn’t think the Swedish brand gives it enough profit. There have been rumors about a few candidates who are interested in the brand purchase, but their names have been kept in secret.
The Pontiac’s destiny is not clear yet.
[source]
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