Saturns, Pontiacs Nearly Nonexistent
January 05, 2010
Only a couple thousand Saturn and Pontiac vehicles remain in 
General Motors' inventory as the two brands are discontinued.
GM's top sales executive, Susan Docherty, told reporters and analysts in the automaker's sales call Tuesday that only 796 Pontiacs and 916 Saturns remain in inventory.
Docherty hailed the "orderly wind-down" of the two brands a success and 10 months ahead of schedule. In May -- just as GM filed for Chapter 11 bankruptcy -- more than 32,000 Saturns and more than 70,000 Pontiacs were in inventory.
GM also is moving forward with plans to wind down Swedish brand Saab, as talks with a potential buyer continue through Thursday. GM is in the process of selling the Hummer brand to a Chinese company.
In December, the four brands represented 9 percent of retail sales, compared with 15 percent in May 2009.
Inventories for the combined four brands totaled 5,123 units at December month-end, representing a 95 percent decrease compared to the end of May 2009 (112,141 units).
|
|
May 2009 |
Dec 2009 |
% Reduction |
|
Pontiac |
70,876 |
796 |
99 % |
|
Saturn |
32,647 |
916 |
97 % |
|
Saab |
4,579 |
1,235 |
73 % |
|
Hummer |
4,039 |
2,176 |
46 % |
Posted by Michelle Krebs at 11:47 AM under GM | Comments (2) | digg this | Seed Newsvine
As I look back, shouldn't Hummer, Pontiac, Saab and Saturn have been made part of Motors Liquidation Company-"Old GM"?
It seems to me that profits or losses from the sale of the remaining inventories of these discontinued brands should go on their ledger along with the other liabilities they have.
An update on MLC would be an interesting story.
Posted by: fulcrumb | January 06, 2010 at 8:39 AM
fulcrumb,
They probably should have been but with absolutely no assets to make good on warranty claims with, the losses on the remaining stock would have been far greater.
Posted by: dg0472 | January 06, 2010 at 6:46 PM