GM to pull the plug on Pontiac car brand

UPDATE #3

No wonder Wayne Taylor Racing dropped Pontiac and switched to Ford power for his Grand-Am team. This has probably been in the works for awhile even before the economy went south. Taylor must have gotten wind of it and made his move.

04/27/09 This rumor is upgraded to 'fact' today. See this Hot News item. The Pontiac nameplate will be dropped at the end of 2010.

04/25/09 As General Motors Corp. races to come up with another turnaround plan, there has been growing speculation that the Detroit automaker will drop its Pontiac brand.

The company tried to pat down those reports Friday with a statement saying it has not yet announced any changes to its long-term viability plan.

"GM is continuing to review its restructuring plan to go further and faster and best ensure its future success," the company said in a statement. "Additional information will be released as any decisions are finalized."

04/25/09 General Motors is preparing to announce that the Pontiac car brand, once marketed as GM's "Excitement division," will be killed off, according to a source familiar with the decision. An official announcement is expected Monday. GM spokesman Jim Hopson declined to comment on Pontiac's fate, saying the automaker has no announcements to make at this time.

In its most recent "viability plan" – which will be updated to reflect this new brand cut – Pontiac was not named as one of GM's four "core brands." Those are Chevrolet, Buick, GMC and Cadillac. But Pontiac was also not to be killed or sold off, as were Saturn, Saab and Hummer.

Instead Pontiac was to continue on as a "niche brand" focusing on just a few models.