This isn't the first time we've heard rumors about GM selling or killing off certain brands, but given the automaker's extremely precarious situation, it sounds more possible than ever. As part of its detailed plan due to the U.S. Congress by December 2nd, GM is considering including the elimination of Saturn, Saab, Hummer and/or Pontiac as part of its strategy, according to Bloomberg.
Hummer has been up for sale since June, and we wouldn't be surprised to see GM sell it for less than it's worth in order to quickly raise cash.
But the possible sale or closure of Saab, Saturn, and Pontiac could come as a shock to many in the industry. Saab would almost certainly be sold off, while Saturn or Pontiac are more likely be shuttered.
The demise of Pontiac would be particularly unfortunate, considering the brand's storied history over 82 years. Saturn, on the other hand, has only been making cars for 18 years, so its closure would come more naturally. Whether popular vehicles like the Pontiac G6 and Saturn Sky would be rebranded as Chevrolet models remains to be seen. A recent report indicates plans for a next-generation Pontiac G8 and Solstice were recently shelved.
We're surprised to hear GM isn't considering shedding Buick, which in many ways overlaps with Cadillac. Moreover, some observers have suggested GM could sell Buick to China's SAIC -- a possible win-win for everyone involved. That said, it doesn't look like this option is currently on the table.
GM's board of directors will review the finished proposal November 30th, and it will be submitted to Congress on December 2nd. Hearings on Capitol Hill will resume December 5th, and a vote could come as soon as December 8th.