GM has several suitors from the Middle East interested in the Hummer brand. The General lost $51 billion over the last three years, and is hoping to get at least $15 billion as a result of selling assets and cutting costs.
"We are trying to approach this (Hummer sale) on an urgent basis," states COO Fritz Henderson. "End of this year is a fair amount of time. It can conceivably happen ... but if it takes us to early next year, that is okay, too."Full story here.
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$51B? wow.
Another squandered opportunity from GM.
Let's see Hummer go indy and build a Wrangler fighter, a small off roader.
Just plan on being low volume. Ditch the bling-bling, and go hard core.
It'd be nice if they could sell the product to the Arabs, rather than the company. I suppose they need the money now.
This really is a great time to sell Hummer. While the products are not in high demand, the company has never been so mainstream. Unlike Land Rover and Jaguar, I imagine GM will get a pretty penny for Hummer.
Keep in mind there has been a substantial upsurge in truck sales lately, thanks to the dropping price of gas (same old, same old). So perhaps Hummer is not quite as dead as people think.
I want to care, I really do but I just don't.
Dropping the H1 ended the credibility of the brand leaving nothing but a short run of image trucks. Now that the image isn't cool anymore, they have no core left to keep them going.
If GM can get a few bucks for the remains, go for it.