News - Hummer
Hummer fate imminent
GM says a decision on the future of its Hummer SUV brand will be made within weeks
2 Apr 2009
THE future of the General Motors-owned Hummer brand will be known within “a few weeks", Automotive News has reported.
GM said on February 17, when it presented its viability plan to the US Treasury Department, that it would announce the fate of its iconic US off-roader brand by Monday (March 31).
But the US industry publication’s sources say the decision on whether sell or fold Hummer, which GM revealed had been “under strategic review” as early as last June, won’t be known for at least two more weeks.
According to Automotive News, GM’s president of North America, Troy Clarke, told dealers on March 30 that a final announcement on Hummer would be made “in the next few weeks rather than months”.
Mr Clarke reportedly said GM would postpone any announcement as it continued to work on finding a buyer for Hummer.
It is understood the divestment of both Hummer and GM’s Swedish brand, Saab, were key parts of GM’s survival plan. The world’s former number-one auto-maker was this week given a further 60 days to come up with a more convincing restructuring plan.
“Our efforts to sell Hummer are proceeding and there are several parties interested - and I would say really interested - in the brand,” said Mr Clarke. “We're still very much in the process, although that process is maturing.
“We feel it's worth some additional time to see if a transaction can be made.” According to Automotive News, Mr Clarke said GM does not yet have “a determination” on whether Hummer will be sold or closed, while Hummer spokesman Nick Richards offered: “We’re definitely in discussions with several interested parties.”
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