GM in Hummer Dealer Buyout Talks?

Mon, Jul 28, 2008

Hummer News

Reuters is reporting that General Motors is quietly trying to tie up loose ends with Hummer dealers, including having buyout discussions:

General Motors Corp is in negotiations with Hummer dealers to buy out stores as it looks to sell the SUV brand whose popularity has plunged amid high gas prices, Automotive News reported on Monday.

The No. 1 U.S. automaker, which has said it is considering “all options” for Hummer including the sale of the brand, also paid out performance-linked bonuses to dealers in advance, the paper quoted several Hummer dealers as saying.

GM is currently trying to sell the Hummer brand. While GM has not confirmed the dealer buyout talks, they said on Friday that several interested bidders had come forward.

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