http://abclocal.go.com/wjrt/story?section=resources/auto&id=6790655
Local dealer and investors submit formal offer to GM
By Cathy Shafran
MID-MICHIGAN (WJRT) -- (05/01/09) -- A local auto dealer says he's made a purchase offer on the Pontiac brand that he hopes will save Pontiac from its pending demise.
Jim Waldron of Waldron Pontiac, Buick and GMC in Davison is behind the push to save Pontiac.
He made the announcement today during a taping of ABC12's Newsmaker Program. During the interview, Waldron said he has made an official offer to GM company to buy the brand.
Waldron tells us that he and a group of investors, one of them another auto dealer, have been in talks for months when it became clear GM was thinking of eliminating the Pontiac brand.
This week, less than 24 hours after GM make the end of Pontiac official, the investors submitted their purchase offer to buy the brand, a brand that Waldron is convinced is a moneymaker.
"I believe in the brand. I think Pontiac's been a long-term brand. If you look at the recent sales, prior to the fallout of the economy in November, Pontiac brands were coming on real strong; the G-6, the G-5, really gaining market share in many markets, and I think we can still do that."
Waldron would not disclose how much his investor group offered for the Pontiac brand. He did say they would be buying the brand and product licensing only.
They wouldn't be buying the existing plants or taking on the workers in those plants.
They do have a plan for where they would begin manufacturing plants, and Michigan, while near the top of the list, is not at the top unless there were very good incentives.
Waldron says he hopes to hear from GM by next week.
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The good thing is, if it happens, They would be building new cars and not using the GM "cookie cutter" cars. Also the licensing includes all the original car names like GTO, Grand Prix, Firebird, Trans Am, etc.
Local dealer and investors submit formal offer to GM
By Cathy Shafran
MID-MICHIGAN (WJRT) -- (05/01/09) -- A local auto dealer says he's made a purchase offer on the Pontiac brand that he hopes will save Pontiac from its pending demise.
Jim Waldron of Waldron Pontiac, Buick and GMC in Davison is behind the push to save Pontiac.
He made the announcement today during a taping of ABC12's Newsmaker Program. During the interview, Waldron said he has made an official offer to GM company to buy the brand.
Waldron tells us that he and a group of investors, one of them another auto dealer, have been in talks for months when it became clear GM was thinking of eliminating the Pontiac brand.
This week, less than 24 hours after GM make the end of Pontiac official, the investors submitted their purchase offer to buy the brand, a brand that Waldron is convinced is a moneymaker.
"I believe in the brand. I think Pontiac's been a long-term brand. If you look at the recent sales, prior to the fallout of the economy in November, Pontiac brands were coming on real strong; the G-6, the G-5, really gaining market share in many markets, and I think we can still do that."
Waldron would not disclose how much his investor group offered for the Pontiac brand. He did say they would be buying the brand and product licensing only.
They wouldn't be buying the existing plants or taking on the workers in those plants.
They do have a plan for where they would begin manufacturing plants, and Michigan, while near the top of the list, is not at the top unless there were very good incentives.
Waldron says he hopes to hear from GM by next week.
----------------------------------------------------------------------
The good thing is, if it happens, They would be building new cars and not using the GM "cookie cutter" cars. Also the licensing includes all the original car names like GTO, Grand Prix, Firebird, Trans Am, etc.
