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Hummer - Going once, Going twice....... - (Global)

July 28th, 2008



In a recent article documented by Reuters, Chief Executive Rick Wagoner has announced that there are a number of interested buyers for the GM owned marque, Hummer.

"We have some interested buyers, and I can't tell you anything beyond that right now, but we are moving as fast as we can."

Wagoner also states that the marque Saab will not be sold anytime soon.

"Saab has been a critical part of our European portfolio and has the potential to be quite a good money-maker for us.” 

GM recently announcing the move to reduce costs by $10 billion, making the question arise as to wether any other GM owned marques will be sold.

With auto sales at a 15 year low, GM is set to offer range wide buyer incentives to maintain sales and counteract this problem.

"What we saw last month is that while consumers are not particularly active, if you offer something you can keep sales moving."

As the month comes to a close, it will be interesting to see the sales figures for manufacturers and the strategies implemented to combat this market inactivity.


Will Tata continue their shopping spree to become the new owners of Hummer?


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