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GM on Waldron Pontiac offer: Brand not for sale

Friday, May 01, 2009

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Matt Franklin
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DAVISON (WJRT) -- (05/01/09)--A Mid-Michigan car dealer is trying to give the Pontiac a new lease on life by purchasing the brand.

But General Motors Corp. is going on the record by saying the car line is not for sale.

Jim Waldron of Waldron Pontiac, Buick and GMC in Davison surprised many by making this announcement during a taping of ABC12's Newsmaker program: "I've made an offer to buy the Pontiac brand from General Motors."

Friday night, the automaker was saying, "Not so fast."

Waldron said he and a group of six investors presented a plan this week to purchase the GM brand and only the brand from GM.

But spokespersons from several GM divisions have said that the Pontiac line is not up for sale.

One of those we talked to was GM Vice President of North American Communications Tom Pyden.

He says per the viability plan submitted to the government, the Pontiac brand is to be phased out come 2010 and there has been no talk of putting it up for sale.

Waldron says he and the investors plan on purchasing vacant plants and hiring a workforce to start manufacturing Pontiacs on their own if the offer is accepted.

He did not disclose how much is being offered to the automaker for Pontiac.

GM announced earlier this week that it was phasing out the brand.

Waldron says shortly after is when the offer was submitted, and that it's in the hands of the legal staff.

Waldron late Friday said it's possible the communications people may not know about the offer.

He says he expects to hear back from GM on whether they'll accept a deal next week.