General Motor's former Vice Chairman of Global Product Development has revealed some new details about the company's historic bankruptcy.

General Motor's former Vice Chairman of Global Product Development has revealed some new details about the company's historic bankruptcy.

Speaking at the Petersen Automotive Museum, Bob Lutz said the U.S. government forced the automaker to kill Pontiac. As Lutz explained, "The Feds basically wanted to get GM down to Cadillac and Chevrolet. They said, 'You don't need all these brands. You need one prestige brand and one mass-market brand.'"

While Buick and GMC were saved, Pontiac wasn't so lucky. This is rather unfortunate as the brand was going to have a rear-wheel drive lineup including a redesigned G6 that would have been based on the Cadillac ATS. The company was also working on a new GTO that reportedly drew inspiration from the Holden Coupe 60 concept.

In the end, Lutz said "When the guy who is handing you the check for 53 billion dollars says I don't want Pontiac, drop Pontiac or you don't get the money, it doesn't take you very long to make up your mind."

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