General Motors considers selling the Hummer brand

Posted on Wednesday, 4 June 2008 , 11:06:33 byEmil

Filed under gmgeneralmotorshummerGMHummer

General Motors considers selling the Hummer brand

Not a rumor anymore. GM announced officially it`s re-evaluating the upcoming Hummer brand. In a press statements, GM said it`is "undertaking a strategic review of the Hummer brand to determine its fit within the GM portfolio. At this point, the company is considering all options, from a complete revamp of the product lineup to a partial or complete sale of the brand."

"We are making a number of important announcements today, covering everything from product and technology investments to capacity adjustments to a strategic review of our Hummer brand," affirmed Wagoner. "These moves are all in response to the rapid rise in oil prices and the resulting changes in the U.S., changes that we believe are more structural than cyclical”.

"While some of the actions, especially the capacity reductions, are very difficult, they are necessary to adjust to changing market and economic conditions and to keep GM's U.S. turnaround on track and moving forward".