General Motors’ COO Fritz Henderson announced earlier today that he hopes the sale of HUMMER will be complete by early 2009 at the latest, effectively announcing an end to HUMMER’s strategic review. While the details of the sale haven’t been finalized, it’s clear which direction GM is moving.
Before today, GM had maintained that all options were on the table for HUMMER, which included revamping the product portfolio to more fuel efficient models, and selling the brand completely. The former option appears to have now been wiped completely off the table.
Henderson made the statements while in India, and at this time, it’s too early to tell if the location of his announcement is significant. Early reports mentioned that two Indian car makers, Tata and Mahindra, could be potential buyers. Tata, who recently purchased Land Rover and Jaguar, is the only speculative buyer that hasn’t categorically denied any interest in buying the HUMMER brand.