After 84 years the popular car company Pontiac is out of business. On Oct. 31, GM’s agreements with Pontiac dealers expired. The company filed bankrupcy due to a decline in sales and unsatisfactory custom designs.
The executives for the company have been in dissagreement since the mid 1980′s. Former GM executive Bill Hoglund blames the demise on Pontiac CEO Roger Smith. The claim is that Smith cut cost for engineering, manufacturing, design, etc. and combined them with those of GMC.
By 2008, the last full year before GM announced Pontiac’s shutdown, sales were 267,000, less than a third of those sold in 1968. The contract between GM and Pontiac officially expired October 31, 2010.
Good bye Pontiac, don’t let the door hit you where the good Lord split you.
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