GM announces potential buyer for Hummer

Article by Christian Andrei, on August 27, 2010

It was announced by GM that it has come into a memorandum of agreement with a potential buyer for its premium off road brand HUMMER. This comes as a result of GM's calculated evaluation of the HUMMER brand and the firms continuing restructuring moves.

It is expected that the sale will be finalized by the end of the third quarter of this year and will undergo the regular closing situations consisting of receipt of relevant regulatory approvals.

The agreement is anticipated to guarantee in excess of 3,000 jobs in the US in the field of manufacturing and engineering and at dealerships nationwide. The agreement also consists of the intentions of the investors to fund future HUMMER product agendas.

The identity of the buyer and its proposed terms has not yet been revealed as of the moment. GM claims that the HUMMER is a serious market contender and will thrive under its new ownership.

The sale of the HUMMER brand will just facilitate further a new GM, which will be leaner, more attuned and more competitive.

During the transition, HUMMER will continue to contract vehicle manufacturing and business service from General Motors. The assembly plant of GM in Shreveport, for instance, will continue to assemble the H3 and H3T until next year at least.

Topics: gm, hummer

If you liked the article, share on:


Login or Create new account to add a comment!


We’re all excited as the year comes to an end especially as there are several things we’ve highly anticipated. Like always, the car industry has something new to offer; that’s...
by - October 28, 2016
Fuel economy is now an everyday term we hear and read in the automotive world. Just recently, some car manufacturers got into serious trouble for claiming false statements with regard...
by - October 28, 2016
More than three decades ago, the DeLorean DMC-12 was produced by the DeLorean Motor Company. However, production was stopped due to issues within the company. The car itself was decent...
by - October 27, 2016
Tesla is making sure that all models under production will receive the necessary advanced hardware that will allow them to be autonomously driven. The fitment of these advanced hardware to...
by - October 27, 2016
Wondering how fast the 2017 Chevrolet Camaro ZL1 in actual driving? To provide customers a good idea on how fast the 2017 Camaro ZL1 could really get, Chevrolet recently had...
by - October 27, 2016