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04-06-2009, Thu 1:15 PM
General Motors (GM) has announced that it has agreed to sell its Hummer brand of sports utility vehicles to an unnamed buyer by the end of September. The sale had long been expected, and comes a day after GM filed for Chapter 11 US bankruptcy protection.
GM has already confirmed that it will discontinue its Pontiac brand as it aims to streamline the business.
The Hummer unit employs 3,000 people, but sales of the large, petrol-thirsty vehicles have fallen sharply.
http://newsimg.bbc.co.uk/shared/img/o.gifhttp://newsimg.bbc.co.uk/nol/shared/img/v3/start_quote_rb.gif I'm confident that Hummer will thrive globally under its new ownership http://newsimg.bbc.co.uk/nol/shared/img/v3/end_quote_rb.gif
GM North America president Troy Clarke
GM sold 27,485 Hummers in the US last year, down 51% from 2007, as a growing number of consumers switched to more fuel efficient vehicles as petrol prices rose strongly, and many more switched from spending to saving as the recession deepened.
Hummer prices start at $31,000 (£19,000) in the US, rising to almost $72,000 with options.
Developed from the Humvee US army vehicle, when the Hummer was launched in 1992 it initially attracted a cult following.
Californian Governor and former actor Arnold Schwarzenegger continues to drive a Hummer, although he has converted his to run on hydrogen.
"I'm confident that Hummer will thrive globally under its new ownership," said GM North America president Troy Clarke.
"And for GM, this sale continues to accelerate the reinvention of GM into a leaner, more focused and more cost-competitive automaker."
GM bankruptcy protection
GM's move into bankruptcy protection is backed by the US government, which is expected to take a 60% stake.
The White House is also going to put another $30bn into GM on top of the $20bn it has already given the carmaker.
It is expected that GM may be able to exit bankruptcy protect between 60 and 90 days time.
GM's current debts total $173bn.
US Chapter 11 bankruptcy protection gives an American company time to restructure its finances while being protected from its creditors.
وهذا الخبر من موقع البي بي سي
http://news.bbc.co.uk/2/hi/business/8079103.stm (http://news.bbc.co.uk/2/hi/business/8079103.stm)
بعتوا الهمر يا جنرال موتورز
وعلى مين ياحسره على الصينيين
الهمر ممكن يصير صيني
تقلب الهمر تلقى مكتوب تحت Made in Chaina
تمساح الاسهم
GM has already confirmed that it will discontinue its Pontiac brand as it aims to streamline the business.
The Hummer unit employs 3,000 people, but sales of the large, petrol-thirsty vehicles have fallen sharply.
http://newsimg.bbc.co.uk/shared/img/o.gifhttp://newsimg.bbc.co.uk/nol/shared/img/v3/start_quote_rb.gif I'm confident that Hummer will thrive globally under its new ownership http://newsimg.bbc.co.uk/nol/shared/img/v3/end_quote_rb.gif
GM North America president Troy Clarke
GM sold 27,485 Hummers in the US last year, down 51% from 2007, as a growing number of consumers switched to more fuel efficient vehicles as petrol prices rose strongly, and many more switched from spending to saving as the recession deepened.
Hummer prices start at $31,000 (£19,000) in the US, rising to almost $72,000 with options.
Developed from the Humvee US army vehicle, when the Hummer was launched in 1992 it initially attracted a cult following.
Californian Governor and former actor Arnold Schwarzenegger continues to drive a Hummer, although he has converted his to run on hydrogen.
"I'm confident that Hummer will thrive globally under its new ownership," said GM North America president Troy Clarke.
"And for GM, this sale continues to accelerate the reinvention of GM into a leaner, more focused and more cost-competitive automaker."
GM bankruptcy protection
GM's move into bankruptcy protection is backed by the US government, which is expected to take a 60% stake.
The White House is also going to put another $30bn into GM on top of the $20bn it has already given the carmaker.
It is expected that GM may be able to exit bankruptcy protect between 60 and 90 days time.
GM's current debts total $173bn.
US Chapter 11 bankruptcy protection gives an American company time to restructure its finances while being protected from its creditors.
وهذا الخبر من موقع البي بي سي
http://news.bbc.co.uk/2/hi/business/8079103.stm (http://news.bbc.co.uk/2/hi/business/8079103.stm)
بعتوا الهمر يا جنرال موتورز
وعلى مين ياحسره على الصينيين
الهمر ممكن يصير صيني
تقلب الهمر تلقى مكتوب تحت Made in Chaina
تمساح الاسهم