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General Motors was planning to get rid of Hummer for a while. Since last summer there have been talks that the marque will be sold if there are any interested parties. When GM announced it would give up three of its brands: Saab, Hummer, and Saturn, there was no company that wanted to purchase the marque that makes military looking vehicles.
The latest events in the head of GM made them move faster coming up with final decisions on what should be closed or sold. Newly appointed CEO Fritz Henderson has held his first press conference where he announced their latest thoughts on Hummer.
Although Henderson has planned to declare the final decision on March 31, there are still things to consider and he asked for a few more days or weeks. GM was battling with the choice either to sell or eliminate Hummer. In the end of the year there were no offers, but now the manufacturer has several offers to sell the brand. In less than a month we’ll find out Hummer’s destiny.
Seems like, Saab will not belong to Asian auto manufacturers, or any other foreign companies, because its parent firm, General Motors has announced the final decision today. The American automaker will sell Saab to Swedish supercar maker Koenigsegg Automotive.
General Motors is happy to announce that the sale of Saab and Opel is coming to the final talks. There have been several candidates, but the manufacturer has the number of them to final three for each brand.
There have been talks about Chrysler and Fiat partnership for a while and American president Barack Obama has decided to bring them to a quicker end giving the companies time to the end of April to come to final decision.
U.S. president Barack Obama got tired with the constant begging of auto companies for bailouts and decided to stop the waste of tax dollars. He says, "We cannot continue to excuse poor decisions". He wants the American auto industry to survive, but not with the leaders who cannot run the companies right.
Daimler AG has announced that is sold 5.34% of the stake in Tata Motors. The German company has raised more than $400 million for the shares it did not want to hold any more.