GM appoints Citibank to advise on sale of Hummer
GM is investigating 'all options' on Hummer's future
Author: Robin Brown
Published: 24 June 2008
General Motors has hired finance corporation Citibank to advise on the future of its Hummer brand, sparking speculation that GM is moving closer to a sale of the military SUV brand.
Rising fuel prices and the effects of the credit crunch have seen Hummer sales plummet, as car buyers in the US turn towards fuel-efficient vehicles.
Hummer brand vehicles sold 62% fewer vehicles in May 2008 than they did the year before, and sales are down 36% through the first five months of the year.
The downturn in sales has also led GM - as well as Ford - to idle truck-building plants as demand drops off.
GM Chairman and CEO Rick Wagoner has previously announced that “all options” will be considered relating to the future of the brand.
Comprehensive list of SUV reviews, pictures and stats
This cross between a Hummer H2 and generic Bentley comes courtesy of a staggeringly rich chap from Dubai - that centre of understatement.
Hummer brings curtain down on colossus approach to 4X4 design, briefly, by showing its caring, sharing HX Concept SUV side in response to worldwide sales slump. Then ruins it all with humongous 2008 H2 and H3. Lordy.
General Motors may sell off Hummer as American car buyers turn their backs on large trucks and SUVs
The new right-hand drive HUMMER H3 SUV is available to buy now in the UK with prices starting from £26,495
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