Despite previous assertions that Pontiac would be cast as a niche brand, Automotive News has published a story citing anonymous inside sources who claim General Motors plans to close the storied brand.

General Motors has released a statement in response:

An announcement is expected to be in GM’s next restructuring plan, which the company will submit to the President’s automotive task force next week, according to the report.

The G8, and the G6 convertible are the only models unique to Pontiac’s lineup in the United States. Pontiac has been known as GM’s “performance division.” Under GM’s last restructuring plan, in February, it planned to keep Pontiac as a niche brand (presumably with performance cars) sold through Buick and GMC dealerships.

But the auto task force rejected that plan and said GM would have to make more cuts to receive further aid. Sounds like Pontiac may be among the cuts. Hummer and Saab are up for sale, and Saturn will be spun out of GM’s orbit.

When we tested the G8, we found it a credible competitor to BMWs at a much lower price. But other models in Pontiac’s lineup have not been competitive.

—Eric Evarts