Arab Investors Interested in GM's Hummer Brand

As US sales slide, GM looks overseas to unload gas-guzzler unit
By Clay Dillow,  Newser Staff
Posted Aug 26, 2008 10:04 AM CDT
GM has found two Gulf Arab investors interested in buying its Hummer unit.   (AP Photo/David Zalubowski)
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(Newser) – There may soon be more Hummers heading to the Persian Gulf, this time as two Gulf Arab investors signal interest in buying GM's troubled brand of SUV—modeled on the military vehicle. Analysts have expected the gas-guzzler to be tough to unload, but low fuel prices, economic prosperity, and Hummer’s position as a status symbol in the Gulf have made it quite popular.

"The brand is extremely vibrant ... which augurs very well," a GM Middle East exec said. GM is shopping the brand as part of a strategy to raise $4 billion in asset sales through 2009 to help weather a sales downturn.