How is GM going to sell its Hummer brand? Who would be willing to buy it? I can’t help but think there are only two types of people who would want to own a Hummer: the rich or the insane. Or perhaps some combination of both. According to the WSJ (look at the link above):
The potential sale of the Hummer brand would be a minor part of GM’s plan to raise the $15 billion in additional liquidity by the end of 2009 that it needs to remain viable during a significant slowdown for the entire U.S. auto industry. GM will trim costs, pledge assets for new financing and sell assets to raise the needed cash.
Mr. Wagoner said Thursday that capital markets “have not opened up robustly” and are “moving in fits and starts.” He noted that GM anticipated the tough environment when it laid out its $15 billion liquidity plan.
How is GM even capable of raising $15 billion? The only thing going for GM is its long history in America. But, judging by its “next-generation of small cars” such as the Chevy Cruze,
things look good for GM if it can remain solvent. I have to admit I like the looks of this car, especially the Euro license plate.
