Comments on: Pontiac move won’t affect Holden

By: Wheelnut

Wheelnut — Sat, 02 May 2009 09:51:49 +0000

There is also another report on Autoblog which states a number of GMs more substantial creditors have put forward an offer to the GM boiard whereby they will wipeout the debt in exchange for a major share in the restructured company – the following is an exerpt from the article:

Apparently the banks weren’t too thrilled with the idea of writing off $27 billion in debt for a mere 10% stake in the restructured company. In response to GM’s proposal to swap debt for stock, a committee of share holders has made a counter offer.”

The original GM offer would have given 89% of the automaker to the UAW [similar to the Chrysler proposal] and the federal government.
The counter proposal would shut the government out of the stock swap deal entirely.
Instead, creditors and the union would get stakes of 58% and 41% respectively with current stockholders receiving the remaining 1%.
However; the “bailout” money that GM has received from the the US government would remain as debt and be paid back at sometime in the future

If GM accepts the banks offer – then GM-Holden will be saved [which I'm sure is bound to annoy Sick of Bogan]

By: Wheelnut

Wheelnut — Sat, 02 May 2009 09:30:58 +0000

Duck – don’t be surprised if they rebadge the commodore as the new Chevrolet Malibu.. and the Ute to become the new El Camino Sports Yruck
Not only that but; according to Autoblog the VEs Aussie designed Zeta platform is tipped to be the basis for the next generation of Cadillac Sedans.. [hopefully they will let Holden design the way the new Caddies look as well]

By: Duck

Duck — Sat, 02 May 2009 08:02:27 +0000

Why don’t they rebadge the Commodore as a Chevrolet from now on? And give it a new name, instead of G8? Makes sense if they do so.

By: Schah7

Schah7 — Thu, 30 Apr 2009 03:58:02 +0000

Gearboxdawg
“End of Pontiac means the end of the American Muscle era”
Hello are some kind of “DEAMER” or something,
Chevrolet[FOR WHAT IT'S WHORTH] is G.M Performance Brand.
The muscle car era hasn’t changed and is represented by:
Chrysler/Ford/Chev.
Pontiac itself has only ever been a “Chevy Clone”
i.e: Pontiac Trans Am is just a Chev Camaro with a PONTIAC
badge on it.
The people and the hard working tax payers of America have shown they DONT want PONTIAC in any form and dreamers like you who think Pontiac was some kind of muscle car.?
HOLDEN you are also DREAMING if you think the dermise of PONTIAC wont have any effect.

By: max

max — Thu, 30 Apr 2009 01:01:12 +0000

s for the VE copper, in a word “Pipedream”. Sorry to burst any bubbles but be honest with yourselves hey! – Frontman

Spot on, denial, it ain’t just a river in Egypt

After GM falls over, the Unions are going to be major stakeholders in whats left, cars being built in OZ, destined for the US market, I don’t think so

By: Frontman

Frontman — Wed, 29 Apr 2009 22:39:50 +0000

Shak, do you really believe the figure you quoted?? About the average Cop car in the states being 15 years old??? Wow that’s amazing!! Anywonder Ford has held onto the the Vicky for that long purely as a police, government and rental vehicle only!! As for the VE copper, in a word “Pipedream”. Sorry to burst any bubbles but be honest with yourselves hey!

By: Old CarAdvice Reader

Old CarAdvice Reader — Wed, 29 Apr 2009 21:06:40 +0000

I agree with jason the american, a FWD Chevrolet Impala is a joke. They could export the Commodore or Statesman to the US as a Impala since they do look kind of similar to each other. But how well would they sell? I remember all the media propaganda about 2 years ago about the Aussie Holden to the US but I’ve traveled around California last year and there were hardly any Pontiac G8s on the roads. I did see a few in dealership showrooms but I only recall seeing about two on the road.

By: jason the american

jason the american — Wed, 29 Apr 2009 18:52:15 +0000

Well the Impala here in North America is due for an update in 2010 or 2011 and the current car is built in the same plant in Canada as the Camaro is being built in so it shouldn’t be hard for GM to make the switch. Before Pontiac went down hill it was in the plans to move the G8 to production in Canada alongside a new RWD Impala. Also i hear that we may still get a Ute here badged as a GMC.

By: David

David — Wed, 29 Apr 2009 14:47:38 +0000

Go figure, GM dumps the Pontiac G8 just as it starts selling up a storm in the US…
I just hope this Chevy cop car deal gets approved, it will be great for local Aussie jobs

By: Dlr1

Dlr1 — Wed, 29 Apr 2009 11:26:37 +0000

Wheelnut, one of the reasons GM is keeping GMC is because they are sold through the same sales channel as Buick and Pontiac (there are only 38 independent Pontiac dealers in the whole US, the rest also sell GMC and Buick). If they dump GMC and Pontiac that leaves several thousand dealers with only Buick models (passenger cars/crossovers) and no trucks. Not enough model diversity to be viable. They are also less likely to face lawsuits under their franchise agreements with the remaining dealers. GMC is currently profitable for its dealers, and the Buick brand in China is one of GMs few money makers, so it makes sense to retain them despite the obvious duplication.