GM considers brand cull

General Motors is understood to be considering axing Saab in a bid to cut costs and win $12bn (£7.8bn) in Government loans. It is also looking to drop Saturn, Pontiac and Hummer.

The US carmaker has already warned it could run out of money before the end of the year and is cutting costs wherever possible to avoid filing for bankruptcy.

A GM spokesman says the company could not comment on speculation.

GM is currently under pressure to come up with a detailed survival plan, alongside Ford and Chrysler. The companies have been set a deadline of December 2 to show Congress how they plan to repay federal aid.

Congress has scheduled a December 5 hearing on the $25bn (£16bn) auto-industry rescue and may vote the week of December 8.

The speculation comes just days after GM’s decision to end its nine-year sponsorship deal with golfer Tiger Woods a year early.

GM has also delayed incentive payments to dealers, extended holiday shutdowns and announced plans to cut about 3,600 jobs early next year as production slows.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here