The chief executive of General Motors (GM), Rick Wagoner, has
signalled that the manufacturer may be considering a sale of its
Hummer brand, after announcing a strategic review of the marque’s
future.
As petrol prices in the United States have skyrocketed, demand
for the “gas-guzzling” vehicles has plummeted, with sales down
nearly 30 per cent so far this year. In response, GM is looking to
shift its product range towards lighter, more fuel-efficient
vehicles, and is to begin production of its electric-powered Volt
model. The manufacturer currently relies on SUV and truck models
for some 60 per cent of its US sales.
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Wagoner said: “High gasoline prices are changing consumer
behaviour rapidly. We at GM don’t think this is a spike or
temporary shift. We believe that it is by and large permanent.”
Motor Finance Issue: 44 – June 08
Published for the web: June 26 08 11:36
Last Updated: June 26 08 11:37
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