BREAKING: GM Issues Official Statement on Pontiac Death Rumors

General Motors decided to take action and issue an official statement in regards of news reports from Edmund's Insideline and Autonews saying that the automaker had decided to axe the Pontiac brand instead of keeping it as a 'specialty-marque' as was the initial plan. While GM denied the fact that it has changed any of its plans, the American automaker didn't exactly say that the future of Pontiac is secured even in the form of a niche-brand.

"Contrary to media speculation, General Motors has not announced any changes to its long-term viability plan or to the future status of any of its brands. GM is continuing to review its restructuring plan to go further and faster and best ensure its future success. Additional information will be released as any decisions are finalized said GM in a statement," the automaker said in the statement titled "Pontiac Statement Re: Media Speculation"

We remind you that earlier today, General Motors announced that it received an additional US$2 billion in government loans to help the company to maintain adequate liquidity.