GM Hopes To Unload Saab, Saturn and Hummer
After reading GM’s business plan that was submitted to Congress with intentions of securing loans in the amount of $12 billion, it seems that some major changes could have a drastic impact on car shoppers. People may just decide to hold onto their current cars and purchase used car warranties, instead of wondering what is going to happen here.
GM claims it will now be focusing on research and development for Cadillac, Buick, Chevrolet and GMC. Pontiac is going to become a “niche†brand, selling fewer models in joint GMC, Buick and Pontiac dealerships. One could guess that vehicles that have been rebadged, such as the G5 compact, G6 sedan, Torrent and G3 subcompact might be forgone. Vehicles that will be focused on will be the Solstice, Vibe, and the G8.
Hummer has already been up for sale, stating a “strategic review,†and now according to GM, Saab will be in the same situation.
Saturn, however, is a little bit trickier. GM is planning to explore alternatives for Saturn, and is going to talk about relationships with dealers. It almost sounds like the brand is going to be closed down all together, which is similar to what happened with Oldsmobile. Oldsmobile ended up costing GM over $1 billion back in 2004 because of franchise laws.