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."
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.