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Money was borrowed from the United States government to keep GM afloat

When the news first broke that the Pontiac Division of General Motors was to be phased out as part of GM’s aggressive restructuring efforts earlier in 2009, it was a shock to many. Since its inception in 1926, Pontiac had been known for producing cars with both performance and value, a division with a rich and storied history.

Money was borrowed from the United States government to keep the entire GM organization afloat, and a “Viability Plan” was submitted to the Obama Administration with details on how the company was planning to survive. The plan included the keeping of Pontiac Division, however, “Uncle Sam” rejected it so further cuts had to take place, in the way of Pontiac’s demise. 

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