Skip to: Content
Skip to: Site Navigation
Skip to: Search
WEDNESDAY, NOVEMBER 25, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


3

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

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

Share

(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)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.24.09
Murdoch and Microsoft: The Mice Are Trying to Roar
11.23.09
Books Are Bad for You
3 comments
VIEWING:
 
TerrifiedCitizen
May 31, 09 12:14 PM CDT
Didn't we read a quote by some governor in an eastern state recently that claimed he had the technology to tweak a hummer to get a hundred miles to the gallon? Hmmm... Reply
Vote up! Vote down!
+3
IN RESPONSE:
Fondue
Jun 1, 09 9:18 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
Vote up! Vote down!
0
Vorant1
May 31, 09 8:48 PM CDT
I thought I heard that its was the Chinese who were interested in buying Hummer. I sure hope that doesn't happen, we need no more technology transfer, to that still communist nation. Reply
Vote up! Vote down!
+2
LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

9 Stories

OPINION

 Pontiac Dies, 
 But Its Greats Live On 


Apr 27, 09 3:57 PM CDT
(Newser) - As General Motors' Pontiac line is phased out, Ben Wojdyla, on Jalopnik, remembers the truly great cars that bore the mark. If you've got one, keep your garage clean and await a payday.
  • 2009 G8 GXP: "GM should be saved for no other reason than to put
... More »

MORE ABOUT:
General Motors • Detroit • recession • Pontiac • auto industry • cars

AUTO REVIEW

Muscled and Svelte, New Camaro Is No Meathead

Reworked car could be Detroit's savior

Mar 21, 09 7:36 PM CDT
(Newser) - General Motors hopes to muscle its way back from the brink of bankruptcy by reintroducing the Chevrolet Camaro, a macho stud-machine that is flexed to impress, Joseph Szczesny writes in Time. “The new Camaro goes well beyond the old-fashioned ‘Detroit iron’ of the 1960s and '70s,” writes... More »

MORE ABOUT:
General Motors • Detroit • fuel efficiency • Chevrolet • cars

OPINION

 Detroit's Sourest 
 Lemons 

A look at these clunkers will leave little doubt why Motown's in such a mess

Dec 7, 08 8:12 PM CST
(Newser) - With Detroit automakers making headlines on Capitol Hill, the New York Daily News offers a retrospective on the Motor City’s biggest lemons:
  • Ford Edsel: A gas-guzzling marketing disaster that became a byword for failure.
  • Chevy Aveo: From 0 to 60 in 11.7 seconds.
... More »

MORE ABOUT:
Chrysler • General Motors • Detroit • Chevrolet • Consumer Reports • Plymouth • Hummer • cars • Buick

9 Stories


Dealer reports Hummer sales are strong
Monroe News Star

Will Hummer become an "orphan?"
Chicago Tribune


Business  •  US 
TwitterFollow @NewserBusiness on Twitter

 
General Motors • Detroit • business • employment • Hummer • job • investor • cars • brand

from our news partners