General Motor’s former Vice Chairman of Global Product Development Bob Lutz has recently revealed some new details about the company’s historic bankruptcy.
Speaking at the Petersen Automotive Museum, Bob said that the U.S. government forced the automaker to kill Pontiac. He further explained that the Feds basically wanted to get GM down to Cadillac and Chevrolet. The reason that the Feds gave was that they (GM) does not need all those brands. The company needed one prestige brand and one mass-market brand.
While Buick and GMC were saved, Pontiac could not be saved from the axe. This could be said as unfortunate for the company as the brand was going to have a rear-wheel drive lineup including a redesigned G6 that would have been based on the Cadillac ATS. The company was also working on a new GTO that reportedly drew inspiration from the Holden Coupe 60 concept.
Lutz concluded by stating that “When the guy who is handing you the check for 53 billion dollars says I don’t want Pontiac, drop Pontiac or you don’t get the money, it doesn’t take you very long to make up your mind.”
