Hummer is the only GM brand for sale, says CEO Wagoner

Saab's slowing sales and delayed models from parent company GM have previously sparked rumors that the Swedish brand could be sold off by General Motors to raise some much needed cash for its operations. Today, GM's CEO, Rick Wagoner, said that the General is not looking to sell any of its brands except for the ailing Hummer brand.

GM's cash flow struggles have seen the company itself predict that it will run out of cash in the first half of next year, however despite these liquidity problems, Wagoner emphasized that the company has "assets" that they are "looking at selling, but not brands".

Speaking with the Australian Industry Minister, Senator Kim Carr, Wagoner apparently made it "very, very clear" that GM would also continue its operations in Australia under the Holden brand, which produces the Pontiac G8 line of vehicles for the U.S.

But while brands such as Saab and Holden are safe from the chopping block for now, GM's financial position has put it in dire straits. Wagoner is understandably concerned about the company's liquidity, and while President-elect Barack Obama has promised to help support the automotive industry when he takes office, the current administration is reluctant to employ any tax-funded measures to bail out automotive companies.

Wagoner claimed that GM would be willing to adhere to strict business restrictions on any loans that were given to the automotive industry, similar to the Wall Street bailout restrictions that force companies to limit pay for their executives, but whether this helps the current administration change its mind on an automotive bailout is yet to be seen.