General Motors may sell or close Hummer
Author: Robin Brown
Published: 05 June 2008
General Motors may sell off Hummer as American car buyers turn their backs on large trucks and SUVs.
The large SUV brand went on sale in the UK in 2007, but sales have been slow as car buyers become more conscious of environmental issues and running costs as oil prices rise. Sales of the monster SUVs in the US have plummeted this year.
GM chairman and CEO Rick Wagoner has signalled that the manufacturer would be downsizing due to changing trends in the US. Ford and GM have been particularly hit as buyers have abandoned expensive, high-margin trucks and SUVs in favour of smaller, more fuel-efficient vehicles.
The US car giant has already announced plans to close four trucks and SUV plants in the States by 2010 with the loss of up to 10,000 jobs, with the focus now turning to the future of the SUV brand, previously beloved of Arnold Schwarzenegger.
Options on the table at the moment include selling off the brand, revamping the line-up or retiring the brand. Selling the brand off would be complicated due to parts sharing across the GM range.
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