Recently, the company said that this brand in particular has decreased its payroll and is getting heavy on its resources so the company has finally come to the conclusion of discontinuing it finally.

Considered as one of the top most American car models, Pontiac shutting down is really a news that will shock anyone. Most of the people who liked driving this model will now be proud to own it, as it will no longer be available in the market.

It was in 1926, when GM started Pontiac as a stepping stone to boost its business. No doubt it brought it great results, but now the company is facing loses due to it so it is coming to an end.

This is in fact considered as an ignominious end for a brand like Pontiac that fired the imagination of many car enthusiasts around the world regarding the traditional American muscle cars.

The latest news in the automobile world is that automobile industry giants, GM and Ford stocks record big gains. These recent gains hint to the expectations that investors are showing faith that the automakers like Ford and General Motors will be able to get federal loans.

It was the first time in the last 28 years, when the shares in General Motors Corp. and Ford Motor Co. recorded their biggest single-day gains. On one hand, GMʼs stock gain jumped from $ 1.25 to 35.11 %, i.e. nearly $ 4.81 in the New York Stock Exchange. On the other hand, Ford gained 49 cents or 29.52% in its shares finishing it at $ 2.15.

According to Bloomberg News, these are supposed to be the biggest single-day gains in about three decades for both these automobile makers. Rod Lache, Deutsche Bank analyst revealed that he expected these two biggest automakers to present relatively aggressive restructuring plans to Congress sometime during next week to request for $ 25 billion in federal loans.