Gm To Sell Hummer

[jrrod2004]

DETROIT (AP) -- General Motors Corp. is planning to put its Strasbourg, France, manufacturing operation up for sale along with its Hummer truck brand.

 

Company Treasurer Walter Borst says in a slide presentation for the Deutsche Bank Leveraged Finance Conference that marketing materials for both operations will be distributed in October.

 

The slides posted on GM's Web site Wednesday say the assets under review are worth $2 billion to $4 billion.

 

The presentation also says GM continues to review other asset sales and will make more announcements in the fourth quarter.

 

GM (GM, Fortune 500) and other automakers have faced liquidity problems as losses have mounted and U.S. sales have declined. GM announced a plan in July to cut $10 billion in costs and raise another $5 billion through asset sales and borrowing through the end of next year.

 

 

 

 

 

http://money.cnn.com/2008/09/24/news/compa...sion=2008092412

[HawkeyeOC]

Hate to see it happen, but it isn't exactly unexpected news. Hummer has so much potential. Keep fighting GM

[stadt11]

"By 2010, GM will sell two-thirds of its vehicles outside the U.S., compared with 59% in 2007" ... interesting

[tobias]

"By 2010, GM will sell two-thirds of its vehicles outside the U.S., compared with 59% in 2007" ... interesting

.

[asilverblazer]

66% vs. the current 59% At least they are making head way some where.

[Zembonez]

66% vs. the current 59% At least they are making head way some where.

If you look at global sales, there aren't many companies that even come close to GM - of any kind. Foreign GM sales have been a part of the company forever. Sales in China started way back in 1929! I think the company will emerge strong after this current ripple in the business smooths out. Too much is at stake for any other outcome.

 

Hummer, sadly, is likely a thing of the past.

[dietz4ibanez]

still hate to see them go!! Even though I would never buy one...