GM may be close to a June 1st bankruptcy filing if the automaker can’t restructure. In an effort to show that the automaker is serious GM may kill Pontiac and GMC in an effort to further cut costs.
Killing Pontiac and GMC would eventually mean that GM would only have three brands: Chevrolet, Buick and Cadillac. The Saturn, Saab and HUMMER brands are either going to be sold off or closed.
According to some sources GMC has a better chance of surviving than Pontiac.
Currently the two brands are being studied as GM tries to find a way to avoid bankruptcy.
Full Story: Bloomberg
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