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Old 04-09-2009, 09:45 AM   #1
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Default REPORT: GM has three possible offers for Hummer; SAIC may buy Buick

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General Motors has been mandated by the U.S. government to shed brands as part of its restructuring process. Recent reports indicate that the General is hard at work, as three buyers are reportedly seeking to purchase Hummer, while a Chinese company may have interest in Buick.

The Hummer fire-sale has been ongoing, but a brutal economy and non-existent credit markets have made a sale even less probable. Reuters is reporting that GM has than three bidders for the Sierra Club's symbol of excess, with one potential buyer from the U.S. and two others overseas. The price of Hummer is reportedly somewhere between $100-$200 million in cash, plus assurances that the buyer will pump money into engineering, sales and marketing. Whichever firm takes the reigns would also take over responsibility for Hummer's 125 dealers. GM would in turn continue to build the H3 at its Shreveport plant, and turn over future plans for the brand.

A separate report from China Business News states that GM's partner in China, Shanghai Automotive Industry Corp. (SAIC), is looking to purchase Buick outright. The report values the Buick brand at $1 billion, mainly due to its popularity in the Land of the Great Wall. We're more skeptical about this report, however, because it's short on details and just quotes "sources." GM has also never said it would consider selling Buick. The brand is also one of the most popular marques in China, making a sale, unless the price was right, seem like a bad idea.
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Old 04-09-2009, 09:52 AM   #2
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Keeping Saturn instead of Buick is wrong. I just Saturn to sink.
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Old 04-09-2009, 09:54 AM   #3
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yea saturn is gone. gm is phasing them out
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Old 04-09-2009, 10:11 AM   #4
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Originally Posted by Mook View Post
yea saturday is gone. gm is phasing them out
GM is phasing out the weekend?

MOOK,what tee eff?You earn a fail.
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Old 04-09-2009, 10:13 AM   #5
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i must have been on the phone
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Old 04-09-2009, 10:34 AM   #6
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this is really sad. at least we will still have Chevy, Cadillac, and Pontiac... I say get rid of Saturn and Hummer
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Old 04-09-2009, 11:14 AM   #7
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Rumor has it that Saturn is looking into seperating from GM and becoming it's own company. If they did this they would have to get rid of the Sky and the Outlook.
Saturn was originally set-up to basically run on it's own and only in the last 5-6 years became more integrated with GM because of Wagoner. Now that he's gone they may be able to revert back and seperate.

As for Buick, It is a very popular brand in the middle and far east. While we only have 3 Buick models here, many Chevy and Pontiac cars are branded under the Buick logo oversea's.
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