High performance division was responsible for such vehicles as the V-series Cadillac, the Chevy Cobalt SS and the Chevy HHR SS. GM hopes to revive the division once its financial situation improves.
GM has disbanded its high performance vehicle division in a bid to further cut costs in what is proving to be a painful restructuring for the troubled Detroit automaker.
On Wednesday, GM scrapped its High Performance Vehicle Operations unit and re-assigned its engineers to other positions within the company.
The shut down is another step in GM's attempt to prove its viability as a business. On Tuesday, the company submitted a restructuring plan to the US Treasury in order to secure more government loans to keep the automaker operating without having to declare bankruptcy. GM is asking for a further 16.6 billion US dollars, on top of the more than 9 billion in emergency loans it has already received.
The High Performance Vehicle Operations unit was responsible for low-volume, specialty vehicles for auto enthusiasts such as a V8 Chevy Colorado pickup, the Chevy Cobalt SS, Chevy HHR SS and the V-series Cadillac CTS.
According to GM spokesman Vince Muniga, the division may be revived someday once the financial situation improves for the company.