GM turns down dealer offer to buy Pontiac
General Motors intends to sell off its Saturn, Saab and Hummer brands in the near future, but the Detroit automaker has no plans to sell its Pontiac brand – even if it already has an offer. General Motors has received at least one offer for its Pontiac division but says it has no intentions to sell the brand.
According to an ABC affiliate in Michigan, Jim Waldron – owner of Waldron Pontiac, Buick and GMC – along with six other investors submitted a plan to GM to buy the Pontiac brand. The offer was to only buy the Pontiac nameplate – not any vehicles, dealers or the like – but GM declined Waldron’s offer. Waldron failed to disclose how much the offer was worth.
Under Waldron’s proposed plan, he, along with the other investors, would purchase vacant U.S. plants to produce new Pontiac vehicles and would also hire a new workforce. It remains unknown if Waldron plans to design his own vehicles or source them from another automaker.
According to Tom Pyden, GM’s vice president of communications, GM is not interested in selling Pontiac.
If GM doesn’t take Waldron up on the offer, Pontiac will be shut down by 2010.