GM kills gas guzzler factories

10Jun08

General Motors made international news recently by closing four of its truck and SUV plants across the US, Canada and Mexico, as part of a rapid move to embrace the demand for smaller vehicles in the US.

The world’s largest carmaker said it was making the moves “to aggressively respond to growing demand for fuel-efficient vehicles and to economic and market challenges in North America”.

With fuel prices soaring, GM is considering to sell its Hummer brand, and has already approved a small new Chev model and the Chevy Volt electric vehicle.

Since GM has lost $51 billion over the past 3 years and saw its stock plummet by 60% since October 2007, some investors argue that it’s too little, too late: it would’ve been sensible to sell the Hummer brand long ago:

If they were looking to sell the Hummer brand, the more sensible thing would have been to do it three years ago, they’re not going to get anything for it. Just in terms of timing, it’s a very poor example.

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