atlaw4u
07-28-2008, 11:19 AM
In addition to looking to shed Hummer, GM is increasing production of some of its popular cars and cutting back on truck production as part of plans to cut costs by $10 billion. (http://www.reuters.com/article/domesticNews/idUSN2847261220080728)
http://www.cleanmpg.com/photos/data/506/Hummers.jpgSoyoung Kim - Rueters - July 28, 2008
DETROIT (Reuters) - General Motors Corp is in negotiations with Hummer dealers to buy out stores as it looks to sell the SUV brand whose popularity has plunged amid high gas prices, Automotive News reported on Monday.
The No. 1 U.S. automaker, which has said it is considering "all options" for Hummer including the sale of the brand, also paid out performance-linked bonuses to dealers in advance, the paper quoted several Hummer dealers as saying.
"Hummer is quietly getting dealers to sign off on their stores and making deals with each one," Tim Kelly, a Hummer dealer in Chattanooga, Tenn, told the paper.
GM Chief Executive Rick Wagoner said on Friday GM has heard from some bidders interested in buying Hummer and was moving as quickly as it could toward a sale… http://www.reuters.com/article/domesticNews/idUSN2847261220080728
http://www.cleanmpg.com/photos/data/506/Hummers.jpgSoyoung Kim - Rueters - July 28, 2008
DETROIT (Reuters) - General Motors Corp is in negotiations with Hummer dealers to buy out stores as it looks to sell the SUV brand whose popularity has plunged amid high gas prices, Automotive News reported on Monday.
The No. 1 U.S. automaker, which has said it is considering "all options" for Hummer including the sale of the brand, also paid out performance-linked bonuses to dealers in advance, the paper quoted several Hummer dealers as saying.
"Hummer is quietly getting dealers to sign off on their stores and making deals with each one," Tim Kelly, a Hummer dealer in Chattanooga, Tenn, told the paper.
GM Chief Executive Rick Wagoner said on Friday GM has heard from some bidders interested in buying Hummer and was moving as quickly as it could toward a sale… http://www.reuters.com/article/domesticNews/idUSN2847261220080728
