Selling HUMMER, Will End Full Size Truck Production At Some Plants
General Motors is considering selling the Hummer brand and will likely stop producing the full-size GMC Sierra and Chevrolet Silverado pickups at its Oshawa, Ontario, plant in 2009. The moves are an attempt to reshuffle GM's product portfolio in light of rising fuel prices and consumers' growing preference for small cars over light trucks.
"We are making a number of important announcements today, covering everything from product and technology investments to capacity adjustments to a strategic review of our Hummer brand," GM CEO Rick Wagoner said in a statement released by the company. "These moves are all in response to the rapid rise in oil prices and the resulting changes in the U.S., changes that we believe are more structural than cyclical."
GM says it's considering all options for Hummer, from a complete revamp of its lineup to a partial or complete sale of the brand.
Hummer spokesman Nick Richards says there's no timeline yet for when the strategic review will start and end, or when a decision about Hummer will be made.
After its Oshawa plant closes, full-size pickup production will continue at GM plants in Flint, Mich.; Pontiac, Mich.; Fort Wayne, Ind.; and Mexico.