Hummer For Sale

[HUMMERcustoms.com/TAZ]

The Automotive News reported 7/8/08 that GM said Hummer is for Sale and there are several possible buyers and one likely is Mahindra & Mahindra.

This I just read and hope some of you can check it out. I'm going to meetings and no time.

TAZ

[frenzy1]

[Agriv8r]

no, HUMMER is not for sale at this time...

[Easy Ed]

Taz, One of these the article ? Was the only one's mentioning the possible sale of the HUMMER.

Automotive News
July 7, 2008 - 1:15 am ET
UPDATED: 0/07/08 12:33 p.m. EDT


DETROIT -- A General Motors spokesman today denied the automaker is reviewing any more brands besides Hummer for possible sale.
The Wall Street Journal, citing people familiar with the matter, reported today that GM could shed thousands of white-collar jobs and sell or cease producing certain brands as part of a strategy reevaluation.
The job cuts are likely to be approved when GM's board of directors meets in early August. The reduction would be in addition to earlier announced cuts. The management may also suggest options for raising additional cash to help GM make it through the downturn, and may discuss cutting certain brands, the sources said.
Both moves are part of a broader re-evaluation of GM's strategy and of its ability to meet an internal projection of returning to profitability in 2010, these people said.
GM denied the report.
"No other GM brand (besides Hummmer) is under strategic review, GM spokesman Tony Cervone said in an e-mail to Automotive News today.
GM's sales chief Mark LaNeve, made similar comments to journalists last week.
GM sells under eight different brands, but most, including Buick, Saturn and Saab, struggle to attract buyers. The company has already decided to put its Hummer division up for sale and prospective buyers are thought to include Mahindra & Mahindra.
On the job cuts, GM employs 76,000 white-collar workers globally, with the bulk of the force based in North America, said the report.
All but Cadillac and Chevrolet, which GM considers core to its business, are undergoing close scrutiny, other people said.
In the past few years, as GM has run up massive losses, some board members and some executives have on occasion raised questions about its plethora of brands, only to be rebuffed by CEO Rick Wagoner, the paper said.
The company, hit by rising oil and raw material prices, the credit crunch and the housing downturn, will need to raise as much as $15 billion (9.6 billion euros) in cash to shore up liquidity and bankruptcy is "not impossible" if the U.S. auto market continues to slump, Merrill Lynch said last week.
Thomson Financial and Reuters contributed to this report

Automotive News
July 8, 2008 - 4:37 pm ET

DETROIT -- Mark LaNeve, General Motors' sales chief, told auto dealers today that the automaker is not conducting a strategic review of any brands other than Hummer.
On June 3, GM said it was conducting a review and considering all options, including selling Hummer. Since then, there has been reported speculation that GM is considering cutting other brands in an attempt to save costs.
In a letter to GM dealers, LaNeve cited an article in The Wall Street Journal that mentioned Saturn as being one of the other GM brands under "examination." LaNeve, who is GM's vice president of vehicle sales, service and marketing, denied that is the case.
"We have invested heavily to give Saturn one of the best and freshest lineups in the industry," LaNeve wrote in the letter. "It is true that we constantly review our plan for improving volume and profitability for Saturn and all our brands. This happens literally every day throughout the year."
LaNeve also said he had been asked by reporters as recently as July 1, during GM's monthly sales call with reporters and analysts, about other GM brands undergoing similar reviews. "My answer then and now was the same -- no! Similar to the Hummer situation, we would communicate with you, our dealers, very early in the process if this was the case," LaNeve wrote.
"(LaNeve) felt it was important to send it out because the news article in the Wall Street Journal inaccurately depicted what was going on in GM, so he wanted to clarify it," said GM spokesman Pete Ternes.
"The response by the dealers to Mark's letter, has been overwhelmingly supportive for Mark with things like 'we needed to hear this,' 'we've got your back' and in general very positive and supportive statements."
LaNeve noted that The Journal article speculated that GM will be announcing further cost cuts. LaNeve says he's received numerous inquiries about this as well. To clear the record, he says GM has made substantial cost cuts since 2005, removing $9 billion annually. GM has taken additional action to cut another $5 billion over the next several years, he added, saying, "We continue to seek ways to further reduce our overall cost footprint as a matter of good business practice."

[DRTYFN]

If GM is dumb enough to sell off Hummer they can expect a record-setting class action lawsuit from all of the Hummer dealers that were just forced to pony up for renovation/upgrades to their dealerships.

[HUMMERcustoms.com/TAZ]

DRTY

I hope GM does not sell but, GM is dumb enough to make one of the biggest ones they could. GM has not been run well for many years.

The article I had read went as far as to tell who at the time was the most likely buyers. Mahindra and Mahindra corp. I went to their website and there was press mention of it.

This company came into the US farming market with tractors about 20 or 25 years ago and everyone laughed at the little toy things. Well now they not only build one of the best small tractors for cow, feed, and hay operations from 65/70 PTO HP and down. They have moved up in tractor size and most likely will do well there. They are a HUGE stickler on quality, ingenuity and performance out of all the equip. they make

They would most likely put a diesel engine H2 right away.

TAZ

[Tex_h2]

Despite the doom and gloom in America, GM's sales edged up in Europe by 3% in the first six months of 2008, including a 58% increase in Eastern Europe and a 60% surge in Russia. This includes a 21% increase in Russian Hummer sales.

[s_c5519]

ok, today 07/15/08, it looks like GM is going through with the Hummer sale... A question I should have asked earlier up is, what does taht mean for the Hummer brand? I don't really understand what happens, does mostly everything stay the same, name, style etc, will we even notice a difference, or will it be the new Mahindra & Mahindra Hummer H2...

"The company also plans to raise $2 billion to $4 billion through the sale of assets, including its Hummer brand. It also plans to borrow $2 billion to $3 billion by pledging assets including stock of foreign subsidiaries, brands, stake in its finance arm and real estate."

http://news.yahoo.com/s/ap/20080715/..._restructuring

[HUMMERcustoms.com/TAZ]

Having seen how Mahindra before India had anything close to a truck to reach out into the wilderness they made a deal I think right after WWII to have import rights to Range Rover and this is where they made their fortune. They ordered the trucks stripped down no creature comforts and bare inside to make them light as possible. This allowed them to sell Rover affordably and still make great profits. They are a proud company and instead of only having import rights with Rover I think if I remember they dropped the Rover after designing their on 4x4. They may build the smaller Hummers to sell in the Eastern Hemi. I can see a factory in India or another eastern country near point of distribution.

I would think they will improve the rig and not just let the brand stagnate. They most likely will have models adapted to the part of the world they sell in.
They will own the plants at which they are built at now and dealers now will be dealers when it is all down. May have in works if not already done deal with American General for colabiration on some models.

They have become a force in everything they have gotten involved in. Yet have been humble and quiet in their dealings, well as much as possible. You buy a strong world known brand like HUMMER it is difficult to keep quiet. I mentioned before that I think they will get engine upgrades that many have wanted. The Hummer brand employee will be asked to stay from top to bottom including R&D etc. I would imagine they would stick with the HX as this deal was most likely being worked out while HX was being built and shown around. Spending big money to own a BRAND most of the time is not done over night. GM knew they were in trouble and in need of selling of something as well as letting employees retire or whatever. Mahindra as I mentioned before took a very small tractor that did not fit the American market and from scratch started looking for it's shortfall's with farmers imput from get go. Over time just due to the pricing at first as well as working with Case and Massey Fergusen dealers to sell the tractors over years but, maintaining a great quality product. They allowed the dealers a great mark up profit just to get tractor out there so American farmer would have time and chance in using low prices to try and see the quality. Now the Mahindra tractors are right up there with any brand in price but, in many ways still more quality.

I think it may be a positive for HUMMER brand. Of course this is speculation and something new to kick around on forum as we wait to see what is going to happen. It will not change anything very soon would be a guess unless I'm sure they have done allot of home work and what is needy for HUMMER to be more profitable.

This is just what I have info from farming equip. side on this co.

TAZ

[Tex_h2]

I agree they don't like a bad company at all.....we can only hope for the best.

[Anthony33]

Doesn't sound good