Despite widespread media reports that General Motors was going to drop the Pontiac and GMC brands as part of their restructuring process, the company said on Thursday. Automotive News reports:
 

Reports that “GMC is going away are just unfounded, unsubstantiated and untrue,” LaNeve said.

In a Feb. 17 report to the U.S. Treasury Department, GM said it planned to go to market with four core brands: Chevrolet, Cadillac, Buick and GMC. Pontiac would remain as a much smaller brand. GM is trying to sell Hummer, Saab and Saturn.

And that is still the plan, LaNeve said. “They’re not pressuring us to give up on anything,” he said. “Buick and GMC are very profitable brands, and we have plans to make them even more profitable.”

The company also denied rumors that was going to terminate franchise agreements from a large number of underperforming dealers before June 1.