"Our efforts to sell Hummer are proceeding, and there are several parties interested -- and I would say really interested, in the brand. We're still very much in the process, although that process is maturing," Troy Clarke, GM's president of North America, said during a call to dealers yesterday.
By doing so, the fate of the Hummer brand enters its 11th month of uncertainty. The brand is up for sale since June 2008, but the things really look to get tricky these days, as the American manufacturer is struggling to survive the economic downturn.
Even if it actively looks for a buyer (the best case scenario for GM), the manufacturer does take into consideration a possible scrapping of the brand altogether. "We feel it's worth some additional time to see if a transaction can be made," added the official.
As for Hummer, the company does the same thing other brands owned by GM and placed under the guillotine do: it hopes. Hummer's spokesman Nick Richards said, "We're definitely in discussions with several interested parties," but of course, he did not give any names. Reminds you of Saab?
Less than a week ago, sources with direct knowledge on the matter told Reuters that GM does have a few offers for the brand and discussions are ongoing. The bids that are on the table are, according to the same sources, "not ideal".
"The Hummer strategic review process continues. We are moving forward and expect to be able to provide some sort of an update before the first quarter," GM said in a statement.
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