Love ‘em or hate ‘em, the Hummer brand may be no more as GM looks to restructure itself to avoid complete collapse.
The oversized sport-utility vehicles fell out of fashion a few years back as gas prices skyrocketed, turning favor toward more economical choices like the Toyota Prius. Check out the top ten most fuel efficient vehicles.
Now GM must decide whether to sell the division or close it down; Chief Executive Fritz Henderson told reporters Tuesday a decision would come within weeks.
The auto giant put Hummer up for sale last June, but has yet to part with the ailing unit. The company also plans to dump Saturn, though it may offer the vehicles until 2011.
GM has lost a staggering $82 billion since 2005, and has relied upon billions of dollars of government assistance to stay afloat, though bankruptcy now looks likely.
It’s hard to imagine Hummers seeing much success with consumer sentiment decidedly favoring smaller, more practical vehicles.
But in recent months, I’ve seen first hand a resurgence of the vehicle as gas prices have fallen back down to earth.
Sadly, people seem to care more about their wallets than the negative environmental impact of the gas guzzling vehicles.
GM sells and leases vehicles in 140 countries throughout the world and employs roughly 244,500 people.
Its brands include Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Hummer, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling.