Hummer, a victim of soaring gas prices and the accompanying move by consumers away from large sports-utility vehicles, is expected to be sold as part of the Detroit-based automaker's broader plan to restructure its operations. GM earlier this month said that it was exploring options for the brand, which it bought from AM General Corp. in 1998, and closing four North American plants as it tries to cope with slowing sales of trucks.
Some in the industry have predicted GM will hold on to the brand and recast it as a more fuel-efficient crossover vehicle. But public perception of Hummer -- which has come to epitomize poor fuel economy -- coupled with rumored interest from Indian and Russian automakers that could provide GM with much-needed funds to help it transform its money-losing North American operations, could be enough to talk the automaker into making a deal. - Lou Whiteman
See Reuters report on GM hiring Citi
See TheDeal.com story on cuts at GM
General Motors Corp. has hired Citigroup Inc. to help it review options for its Hummer brand, according to a Reuters report.
