GM Announces More Layoffs, Plans to Close Pontiac Brand

GM said it plans to sell or close the Hummer, Saab and Saturn brands by the end of this year, which is faster than an earlier schedule. GM said it planned to build its last Saturn vehicle this year and has no plans to continue Pontiac vehicles like the Solstice and Vibe under different brands.

GM did not have the resources to invest in Pontiac or provide "marketing muscle," Henderson said. The brand will be phased out by 2010.

"It is a tough decision because this is a brand with considerable heritage," he said. "It is an intensely personal decision in many ways, but one that needed to be taken."