In spite of Oldsmobile's critical successes since the mid-1990s, a reported shortfall in sales and overall profitability prompted General Motors to announce in December 2000 their plans to phase out the Oldsmobile brand. The announcement took place just two days after Oldsmobile unveiled what would be its last new model ever, the Bravada SUV - which became, somewhat ironically, another critical hit for the division. The phaseout was conducted on the following schedule:
- Mid-2001: The 2002 Bravada, the company's last new model, hits Oldsmobile showrooms
- June 2002: Production ends for Intrigue and the Aurora V6 sedans
- May 2003: Aurora V8 sedan production ends
- January 2004: Bravada SUV production ends
- March 2004: Silhouette minivan production ends
- April 2004: Alero compact car production ends
The final 500 Aleros, Auroras, Bravadas and Intrigues produced received special Oldsmobile heritage emblems and markings which signified 'Final 500'. All featured a unique Dark Cherry Metallic paint scheme. Auroras and Intrigues would be accompanied by special Final 500 literature. The final production day for Oldsmobile was April 29, 2004. The division's last car built was an Alero GLS 4-door sedan, which was signed by all of the Olds assembly line workers. It is on display at the R.E. Olds Transportation Museum located in Lansing, Michigan.