General Motors says it will consider 'reasonable' offers for Pontiac brand
Posted by Melissa Burden | The Flint Journal June 05, 2009 13:30PM
Categories: Flint - News
Davison, Michigan -- General Motors is saying "nothing is off the table" and that it will consider reasonable offers to buy the Pontiac brand, though the automaker previously has said the brand isn't for sale.
GM dealer Jim Waldron of Jim Waldron Pontiac Buick GMC Inc. in Davison said he and five investors want to buy the brand, plants and equipment needed to make Pontiacs from the bankrupt automaker.
Jim Hopson, a spokesman for the Pontiac brand, said that Pontiac has fewer than 40 standalone Pontiac dealerships nationwide, which would make it hard to sell the brand.
Typically, franchise agreements prohibit dealers from selling competing brands in the same showroom, Hopson said. In all, some 2,500 GM dealerships sell Pontiacs, he said.
"We're not taking anything off the table and we'll listen to any reasonable offer," Hopson said.
"We can not see how it could be a viable business given the fact that it's so interconnected with the other GM brands," he added.
Hopson said he doesn't know if anyone at Pontiac is talking to Waldron. Waldron said he has meetings set up next week on the proposal.
Current GM plans are to phase out the Pontiac brand by the end of 2010. Dealers would wind down their Pontiac inventory by October 2010.