iSPY - GM's "summer vacation" + HUMMER info.

GM's big financial problems and the high petrol prices is really laying a big pressure on GM.

As the "Big bad wolf" off US auto industry, they have the biggest pickup and SUV production in the US.
But due to extremly high fuel prices, not just in the US, they are having big problems selling the fuel consuming SUV's and pickup's.

And due to low sales, the management has decided to give factorys summer vacation.

Following plants will be shut down from 1 week to 11 weeks:
Fort Wayne, Ind.; Arlington, Texas; Janesville, Wis.; Moraine, Ohio; Silao, Mexico; and Oshawa, Ontario.

And, just to top it of, GM has hired a company, to find a buyer for theire biggest brand, HUMMER, and it's not just the name that's up for grabbs, it's the hole HUMMER factory, brand and all that follows.

Who is the potential byuers?

The rummers has it that eighter Tata Motors or "Mahindra and Mahindra" might buy HUMMER, but other potential buyers are in the sights.

Source of info:
www.egmcartech.com...


[edit on 24-6-2008 by Phoebus]

It looks like GM will not have to much trouble selling Hummer. Here is another potechel buyer.

Russia's richest man, Oleg Deripaska, has held talks with General Motors about buying Hummer, the brand of gas-guzzling cars modelled on the US army's heavily armoured Humvee combat vehicles.

The billionaire oligarch has had "exploratory" contact with GM although any deal is some way of, sources close to the negotiations told Reuters.

Hummer's future has been in the balance since early June when GM announced a strategic review of the business and called in Citigroup to advise on financial options. Sales of the vehicles have plummeted by 40% in the US this year.

Deripaska, who is worth an estimated $28bn, made his fortune in aluminium but recently delved into the motor industry by purchasing a stake in Canadian car parts manufacturer Magna International. He is thought to be keen on getting Magna involved in making Hummers.