HUMMER News
-
The ongoing tale of Saab's sale may be drawing to a close, as early reports out of Sweden today have General Motors and Swedish supercar maker Koenigsegg, along with a group of Norwegian investors, agreeing to the deal in a letter of intent. GM confirmed in its February viability plan that it would no longer supply Saab with funding and that the Swedish company would become an independent business as of January 1, 2010. An official announcement of the sale is expected this week, Saab officials revealed to Automotive News. In its own turnaround plan presented to creditors, Saab confirmed that...
-
Report: GM may announce Hummer sale tomorrowGeneral Motors confirmed the sale of its Hummer brand last August and followed up the announcement with the release of an official document for potential buyers just one month later. Poor sales, growing public concern for the environment and the recession have all added up to weaken Hummer's sales...
Nelson Ireson -
Former Cadillac chief McNabb hired as Maserati NA President and CEOWhen Mark McNabb announced his resignation from head of GM's premium division last week, it wasn't clear where he'd be headed next. But today, Maserati North America has announced he'll be heading up their company as the new president and CEO. The move from a GM brand to a Fiat brand is an...
Nelson Ireson -
Cadillac boss Mark McNabb resignsLast April General Motors made some structural changes to its brand operations, consolidating a lot of redundant work into a single channel. As part of that change, Mark McNabb was appointed head of Cadillac, Hummer and Saab as chief of GM's premium division. Things have changed at GM since then...
Nelson Ireson -
GM ties with Saab will remain in future modelsThe future of Saab is starting to look much brighter, thanks in part to important concessions from General Motors to help it build and design its own range of cars in the future, as well as a likely extension from Swedish courts for its restructuring deadline. For a while it looked as though Saab...
Alex Kaufmann -
Raser Technologies working on 100mpg Hummer H2 plug-in hybridHummer may have been one of the most demonized vehicle brands of the decade, with both poor sales figures and a terrible environmental reputation - but now Utah’s Raser Technologies is using the iconic Hummer H2 as a base for its new electric technology, which it claims can give the Hummer a...
James Martinez -
General Motors is reportedly preparing for the worst, with work under way to get the company ready for a possible bankruptcy. Earlier on this month, it was mentioned that a bankruptcy plan to split GM and retain only the most profitable aspects of its operations while ditching the dead weight was being considered - a plan that many analysts said was the most logical solution for bringing the company back to its former prominence. But a bankruptcy will mean big trouble for certain parties, especially bondholders who are expected to lose out substantially should the bankruptcy eventuate. At the...
-
GM bankrupcty could split healthier brands off into separate companyHidden away in General Motors' plans for the next 60 days is a bankruptcy strategy that could see its most successful brands peel off to form a second company, leaving the other brands to languish in bankruptcy for a more extended period. The news comes from an anonymous source within GM via...
Nelson Ireson -
Bankruptcy rumors hurt residual values for GM and ChryslerGeneral Motors and Chrysler just can’t seem to get a break. Not only are they dealing with one of the worst market slumps to hit the auto industry in decades, fears of bankruptcy are turning away potential customers in droves and now those same fears are also sending residual values of their...
James Martinez -
GM dealers not ordering new cars due to uncertain brand futuresIn what is set to become a terrible domino effect, lagging demand for new cars and an uncertain future at Hummer, Saturn and Saab dealerships is leading to an inventory pile up. That, in turn, means dealers are ordering no new cars, driving General Motors' production schedule even further out of...
Ralph Hanson -
Massachusetts wants SUV owners to pay more for the privilegeIt's got a snazzy title, it's controversial, and it's already popular. No, it's not Britney Spears' new 'Circus' tour. It's a plan - called the 'Hummer Tax' - to increase the registration fee on SUVs, and it has the backing of Massachusetts Governor Deval Patrick. Car dealers and SUV owners are...
Ralph Hanson -
Germany's interior minister suggests insolvency may be best bet for OpelSaturn is expected to go its own way, Pontiac is being pared down, Hummer is up for sale and Saab has already announced it will be seeking independence. General Motors' brand hemorrhage continued last week with the announcement that Opel will be spun off from the brand as well, with a potential...
Ralph Hanson -
General Motors yesterday announced it would be laying off 2,000 workers and reducing production at 10 North American plants over the coming months. At the same time, AM General, producer of the Hummer H2, laid off 200 workers from its Mishawaka, Indiana plant. Now GM's extended production halts could combine with the layoffs to put H2 production on ice for the foreseeable future. Production wasn't expected to restart until March at the earliest, but with GM's announcement of a general slowdown or halt in output, plant officials and workers are fearing H2 production could be delayed even...
-
Geiger Hummer H3 V8 KompressorHummer's troubled present and uncertain future are no impediment to tuners hell-bent on creating the most insane vehicles possible, and this blown V8 Hummer H3 is a prime example. Today the Germans at Geiger Cars, already known for some outlandish Hummer creations, have unleashed the H3 V8...
James Martinez -
Top ten most polluting vehicles list dominated by supercarsIt's a truism that big power requires lots of fuel. There's simply no way around it. So it's not surprising that a newly compiled top 10 list of the world's most polluting passenger cars is composed primarily of supercars. Leading the way is the Bugatti Veyron, rated at a whopping 571g/km CO2...
Alex Kaufmann -
Cadillac Escalade ESV tops most stolen vehicle listThe Cadillac Escalade SUV is undoubtedly popular with a wide range of people, but especially so with car thieves, who made the 2007 Escalade ESV their number one choice for stealing this year. Meanwhile, the Mercedes Benz E-Class saloon was the least popular with thieves and was 15 times less...
James Martinez -
Report: GM may drop Saab, Saturn and Pontiac to appease CongressDespite previous assurances made earlier this month by its CEO Rick Wagoner, General Motors is reportedly considering dropping the Saab, Saturn and Pontiac brands in order to improve its chances of garnering a federal government aid package. GM is currently readying a turnaround plan to present to...
James Martinez -
Hummer is the only GM brand for sale, says CEO WagonerSaab'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...
Ralph Hanson -
Despite a change-up in power at the top with the naming of a new CEO just a week ago and a firm commitment by GM to sell the brand, Hummer is continuing merrily on its way to SEMA with a three-pack of concepts based around the H3. The first, an H3T truck-based vehicle called the 'Weekend Warrior', offers the basic H3T package plus a more powerful engine and enhanced suspension developed with assistance from the company's off-road racing program. With 70hp (52kW) more power on tap from the 5.3L V8 engine thanks to LS2 cylinder heads, a higher-lift camshaft and other bits and pieces, all...
-
Jim Taylor named CEO of HummerGeneral Motors has announced a new CEO for Hummer as the brand experiences one of the most tumultuous periods in its history. Moving into the CEO position is former Cadillac general manager Jim Taylor, whose appointment comes just weeks after GM confirmed a sale of the SUV brand. The move is part...
Jeremy Weber -
GMAC ceases all financing to buyers with credit rating below 700Automotive lending and mortgage firm GMAC has announced it will further restrict automotive financing by ceasing to offer any money to buyers with credit scores lower than 700. The move puts most American buyers out of contention for GMAC financing, as the average credit score in the U.S. is 680...
Nelson Ireson -
Hummer announces off-road driving academy in the SaharaDriving prowess is something many automotive enthusiasts take pride in, and off-road driving skills are an equally difficult subset, which few have the real opportunity to develop. Hummer hopes to help 14 teams build their skills with a school that includes a 1,300km trip that crosses a portion of...
Nelson Ireson -
Report: Arab investors interested in acquiring HummerDespite continual denials from General Motors that any official talks over the sale of Hummer have even taken place, a new report claims that investors in the Middle East are now interested in acquiring the ailing brand. Hummer’s Middle East chief has revealed that at least two separate...
Alex Kaufmann -
Mahindra, Changfeng both turn down chance to buy HummerGeneral Motors' Hummer brand has seen sales fall to barely one-third of last year's figures, and the company has reportedly been shopping the nameplate around for some time. Today word of failed talks with China's Changfeng and a statement of disinterest by India's Mahindra & Mahindra (M&M) have...
Nelson Ireson