Wall Street Journal reports that GM is considering announcing its Hummer brand tentative sale tomorrow the step is being taken just a day after filing protection against Chapter 11 bankruptcy. The name of the possible Hummer buyer has not been announced by the company yet, but according to this report the deal would be affected by the end of the 3Q and the company will keep producing its H2 and H3 in the company’s Louisiana and Indiana plants.
Many experts believe that if Hummer is not offloaded during this month, the bankruptcy proceedings would cause to kill the company. There are different parties that are offering good sums and that also includes a Chinese firm that has been looking for it somewhere in below $500m from the past one year.
We can expect that GM would soon be hyping this sale as part of its turnaround efforts and the new supplier of the SUV will keep working to expand its line that will also include fuel alternative models of the future.
Source: autoblog
Tags: bankruptcy, gm, hummer brand
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