When General Motors (GM) CEO Rick Wagoner said the company may sell, kill or revamp the Hummer, one question immediately came to mind: revamp it into what? If the oil is spike is permanent, as Wagoner now believes, the Hummer is a punch line, not a profit centre.
Now, as GM formally opens up talks to sell the Hummer, the WSJ is reporting that GM “isn’t any longer seriously considering a complete revamp of the Hummer division into a lineup selling vehicles with better fuel economy.” Translation: It’s selling it.
Strangely, the WSJ article doesn’t address any of the potential buyers for the Hummer. And of the potential buyers, Chinese automakers have already seemingly thrown in the towel, Indian automaker Mahindra and Mahindra is fading out of the picture, and Russian billionaires are, well, fickle.
The potential sale of the Hummer brand would only be a small part of the $15 billion GM plans to raise by the end of 2009. So let’s hope the rest of capital-raising plan is going better.
Now, Even China Doesn’t Want GM’s Hummer (GM)
General Motors (GM) May Finally Have Found Buyer For Embarrassing Hummer Division (GM)
General Motors (GM): Hummer Is Now Embarrassing To Us, Too: We May Sell or Kill It (GM
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