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GM Close to Hummer Sale That Would Save 3K US Jobs

Has picked a buyer; deal would be finalized by Sept.

By Katherine Thompson,  Newser Staff

Posted May 31, 2009 10:14 AM CDT

(Newser) – GM has selected an unnamed investor to buy its hulking Hummer brand, in a move aimed at saving more than 3000 US jobs, sources tell the Wall Street Journal. They say the company hopes to seal the deal, rumored to be in the $200 million range, by September. An official spokesman declined to give any announcement, saying only that GM is "working through the final details of an agreement."

Hummer vehicles sit on the sales lot of a Niles, Mich. dealership Thursday May 14, 2009. As part of the GM reorganization the future of the H2 Hummer vehicle is uncertain.
Hummer vehicles sit on the sales lot of a Niles, Mich. dealership Thursday May 14, 2009. As part of the GM reorganization the future of the H2 Hummer vehicle is uncertain.   (AP Photo/Joe Raymond)
GM's Hummer brand has been in a relatively steady decline over the past few years, a trend exacerbated by high oil prices a year ago and a struggling economy since then.
GM's Hummer brand has been in a relatively steady decline over the past few years, a trend exacerbated by high oil prices a year ago and a struggling economy since then.
General Motors' Shreveport Hummer and pickup truck assembly plant is due to go on hiatus on June 1, 2009.
General Motors' Shreveport Hummer and pickup truck assembly plant is due to go on hiatus on June 1, 2009.   (AP Photo/The Times, Jessica Leigh, File)
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COMMENTS
Showing 1 of 1 comment
Fondue
Jun 1, 2009 2:18 AM CDT
Yes we did. It would possibly add about 10-15 grand to the price and more than likely void your warranty. I'm not saying it's a bad idea, but the warranty issue isn't even mentioned on their site: rasertech.com

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