At this year's Annual Meeting of Stockholders GM announced that it may sell close Hummer. The Hummer brand will undergo a strategic assessment and GM is taking every option into consideration, from the complete revamping of the product lineup to partial or complete sale of the brand.
"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," said Wagoner. "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.
"While some of the actions, especially the
capacity reductions, are very difficult, they are necessary to adjust to changing market and economic conditions and to keep GM's U.S. turnaround on track and moving forward."
