Buick, Chevrolet, Cadillac and GMC will soon be the only four brands listed under the GM logo. According to GM North American President Troy Clarke, GM is currently seeking buyers for Saab and Hummer and as part of its agreement under the terms of its recent federal loan bail-out, GM will reduce its brand number to just four.
“We have to re-engineer the way we’re doing business in many regards,” Clarke said. “We’re going to be a smaller company.” Clarke expressed confidence that GM would indeed be able to execute the downsizing plan according to the terms of the loan, and emerge as a successful but very different automobile manufacturer on the other side of the changes. Other planned cuts include reducing the Pontiac line to just six vehicles, eliminating a host of SUV models across all GM brands, and the possible sale or elimination of Saturn, which has not turned a profit since 1993.
Tags: Auto Bailout, GM