GM: HUMMER sale "urgent", done by early '09
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Apathy Kills
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From: The Left Lane
GM: HUMMER sale "urgent", done by early '09
Filed under: SUVs, HUMMER, Earnings/Financials
HUMMER, a brand that has seen its sales drop by a shocking 40% so far this year, is apparently burning an SUV-sized hole in General Motors' pocket. Main money-man at the biggest American automaker, Fritz Henderson, says that GM wold like to rid itself of the brand as quickly as possible, saying that its sale is being approached "on an urgent basis." The time frame given was by the end of this year or early 2009 for a completed transaction. So, who would want the brand that represents wretched American excess? We have no idea, but it seems that somebody does as Henderson reiterated that the General's been approached by multiple suitors. Interestingly, these comments were made in India, a country that had previously been rumored to have two separate bidders for the HUMMER brand. Considering the growing sentiment for small cars in the U.S., it wouldn't be surprising to see HUMMER sold to a company that does most of its business outside America.
[Source: Reuters via Hummer Guy, photo by Grant McDonald | CC2.0]
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HUMMER, a brand that has seen its sales drop by a shocking 40% so far this year, is apparently burning an SUV-sized hole in General Motors' pocket. Main money-man at the biggest American automaker, Fritz Henderson, says that GM wold like to rid itself of the brand as quickly as possible, saying that its sale is being approached "on an urgent basis." The time frame given was by the end of this year or early 2009 for a completed transaction. So, who would want the brand that represents wretched American excess? We have no idea, but it seems that somebody does as Henderson reiterated that the General's been approached by multiple suitors. Interestingly, these comments were made in India, a country that had previously been rumored to have two separate bidders for the HUMMER brand. Considering the growing sentiment for small cars in the U.S., it wouldn't be surprising to see HUMMER sold to a company that does most of its business outside America.
[Source: Reuters via Hummer Guy, photo by Grant McDonald | CC2.0]
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