Pontiac Dealer Wants to Buy Brand, GM Not Interested

Pontiac Dealer Wants to Buy Brand, GM Not Interested

Jim Waldron, the owner of a Pontiac dealership in Michigan has revealed that he and a group of investors submitted an offer to buy the scheduled-for-termination Pontiac brand from GM. Waldron made the announcement on ABC’s local WJRT station and said that he expects to hear back from the company this week.

GM representatives, including Communications VP Tom Pyden, have said that the brand is not for sale and that as a part of the company’s new Viability Plan submitted to the U.S. government, Pontiac must be phased-out.

Waldron said that it is possible the communications team does not know of the offer.

As the terms of the offer (and, therefore, the price) are private, it is not clear if the offer is reasonable one. Waldron did say that if the offer is accepted his team would look into purchasing vacant plants and hiring a workforce to start manufacturing Pontiacs.

[Source: ABC – WJRT]

  • Maurice Miller

    Pontiac is my second favorite GM line of car ; second only to Cadillac which is too expensive for my budget . That makes Pontiac my first favorite . Over my life span iv’e owned several GM cars 1 buick , 3 chevy’s , 1 cadillac and 3 pontiac’s . Though I’m very fond of GM vehicles and like their quality I’m saddened about this pontiac deal . I currently own a 2004 Gran Prix GTP and was looking forward to someday owning the G8 but I guess that will never happen bye bye” excitement ” .

  • Bobby Ewing

    Its really a shame that Pontiac is being cut. Alot of great cars came out of the brand. Pontiac is an icon in the automotive world. Yes, some might not like the newer cars but no reason to send Pontiac to the grave.

  • Alex

    Seems a rather hasty decision. Would it not make sense to sell a brand a make a profit on it no longer being part of your line up, as opposed to axing it altogether?

  • doc

    I have a 97 TA with 20,000 on it, an 05 GTO with 18,000 on it and a 99 Firebird for a daily driver. I love these cars. I can’t believe Pontiac didn’t outsell the Buick brand. What are the great cars from Buick? Go figure.

  • Russell

    I love my 07 GTP G6 sedan, and really hate that now Pontiac is getting good again, with the GTP, GXP, solstice, and G8.
    I wish this deal would go through, it would be good for all involved, car owners, employers and employees.

  • Brandon

    It figures. Pontiac finally gets off their ass and starts pumping out some really good cars and they get the axe. GM should have already axed Saturn and hummer years ago! they should have never made Saturn actually. 2 months before pontiac got the boot I bought a GTO go figure……

    I hope the sell the brand and to someone who will keep it in America.

  • Joe

    I believe that this move of canceling the brand will alienate Pontiac guys/gals further from GM. There are many loyal GM fans,such as myself, who are disappointed with these events and will look elsewhere on their next car purchase.

    In the last 30 years of GM ownership, I have never had any issue with GM quality, the cars have never ever let me down. However, as powerless as GM management is at this time, my opinion is that canceling Pontiac is another nail in the GM coffin. The downward spiral continues….

    The purchase of the Pontiac brand by Jim Waldron should be allowed to keep this great brand to survive.

  • Fast86GN

    In response to Doc comment posted on May 6th. What are the great cars from Buick? Go figure.

    I agree there are no Buick’s in the USA worth keeping but in China there king! If you drive a Buick in China, it’s like driving a high dollar Mercedes over here. So Buick stays. And the GTP’s everyone else are talking about they are/were Buick powered as was the fastest production Trans Am ever built the 89 TTA powered by the Buick LC2.

    I would love to see the G8 and the TA comeback they call them whatever thay want!

  • Colton

    As a pontiac fan myself, this seems like a great idea. The only problem is GM can’t afford to have the competition of the Pontiac brand. Another reason this won’t happen is that if Pontiac was sold off and became successful, GM would lose many investors who see GM made a mistake.

  • R. Antonik

    If GM will sell the Hummer brand to a Chinese firm, why
    not sell Pontiac to a group of local investors?
    In my opinion, they’ve already made a mistake by keeping
    Buick over Pontiac! How many Buicks do you see on the road?
    I only see older ones driven by older people.
    I’m 62 years old and own a G8GT and love to drive it. It
    puts a little excitement in your life.
    Also, what kind of car does Buick plan to build to compete
    with the smaller hybrids?