Earlier this morning, GM announced that it has reached a tentative deal to sell its Hummer brand; however, it declined to name the buyer or the vale of the deal. GM CFO Ray Young said the buyer for Hummer, after a year-long sale process, preferred to remain anonymous for now. “It was their preference, and [...]
GM announced today that it has entered into a MOU with a buyer for Hummer, which it declined to name. “The sale is expected to close by the end of third quarter of this year and is subject to customary closing conditions, including receipt of applicable regulatory approvals,” GM said in a statement. The deal [...]
We love the American auto industry, and we’ve been awfully kind in not making fun of GM and Chrysler since most of that is done by the traditional media. However, with something like this – they are just asking for it. So go ahead, use this post and polk your fun at General Motors. Whoever [...]
Going into the 11th month of uncertainty over Hummer’s future, General Motors said today that it is postponing a decision on its Hummer brand for “a few weeks” as it works out details to complete a sale, reports Automotive News. “Our efforts to sell Hummer are proceeding, and there are several parties interested — and [...]
Just days before General Motors heads to Washington, D.C. to present its updated restructuring plan to the U.S. Department of Treasury, ‘sources’ have reported that the automaker is talks with two potential buyers of the Hummer brand. Insiders familiar with the matter say that the two buyers include a private-equity firm and a Chinese company. [...]
It seems like everyone in Abu Dhabi and Dubai is unaffected by the economic crisis. This seven-passenger Hummer H2 Convertible was spotted hanging out and Abu Dhabi showing us nothing is impossible for the rich Sheikhs. Besides a custom paint-job and the red leather seats, this Hummer H2 Convertible features an aftermarket fiberglass hood scoop [...]
General Motors has to submit a detailed plan to the U.S. Department of Treasury by Feb. 17 to show how it will become viable. As the clock winds down, GM has no idea what it wants to do with its losing brands, Saturn, Saab and Hummer. Sources say that with President Barack Obama still selecting his team [...]
According to sources familiar with the matter, General Motors is unable to find buyers for Saab. GM put Saab under strategic review last month as a part of its recovery plan submitted to Congress. Fritz Henderson, GM”s vice chairman and chief operating officer, previously said that GM is looking to sell Saab as soon as [...]
News of Hummer’s sales began in June of 2008. Later in July, GM CEO Rick Wagoner said that GM is moving as quickly as possible towards selling Hummer. Well it’s now the end of December we have yet to hear anything about Hummer’s future. According to GM President Fritz Henderson, an update on the future of [...]
As car sales continue to decline, auto makers continue to offer year-end deals in hopes to move models out of the showrooms. GM’s Red Tag Sale has been going on since November and today the General said that it has upped the amount of cash back it will offer on a couple of 2008 models [...]
