A General Motors representative told Reuters today that two Gulf Arab investors have expressed interest in the HUMMER brand.
“For sure, there has been interest from various parties within the Gulf … there is a precedent in the cases of Aston Martin, Ferrari or Daimler and those kinds of solutions could be very realistic solutions,” said Terry Johnsson, GM Middle East’s Managing Director. Johnsson is referring to the partial sale (5%) of Ferrari to Abu Dhabi’s Mubadala Development Company, and Kuwait’s Investment Dar which bought half of Aston Martin last year.
Johnsson isn’t directly involved in the sale, but confirmed that GM has “had two separate investors raise their hand as being interested,” and adds, “but I don’t know what’s happened since then.” Outside the US, Johnsson explained HUMMER has seen significant growth. “The Hummer as a total volume is small, but in terms of growth it is going very fast … The brand is extremely vibrant … which augurs very well.”
Source: Reuters
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There’s a sure way to make the Hummer brand even more endearing to Americans….sell it to the Iraq, Iran, or their cousins.
Comment by unclejjg — August 26, 2008 @ 8:44 am
Better yet, makes GM as a whole more endearing to Americans. My H3 was the first GM vehicle I have purchased, and if they sell the brand it’ll be my last, and I’m not even 30 yet.
Comment by Brian — August 28, 2008 @ 8:27 am
I’ve bought a H3 this year, i.e. an American car, which is an iconic vehicle with almost mythical character (Humvee, Desert Storm, freedom, etc. …) and not an Arab car! GM doesn’t understand what a negative impact it would/could be for all Hummer fans, if this remarkable brand should be sold to some Arab investors…
One question remains: if Hummer is a brand « extremely vibrant…which augurs very well », as Johnson said, why does GM try very hard to sell it?! !
Comment by Hummer-of-course — August 29, 2008 @ 7:26 am