General Motors has recently revealed that Hummer has finally found a new owner. GM has signed a memorandum of understanding with a new, yet unnamed, Hummer buyer.
There is no word on how much the SUV brand went for, but officials did mention they expect the sale to be finalized by the end of the third quarter of 2009.
Selling Hummer would also potentially secure more than 3000 jobs in the production, engineering, and dealership areas of Hummer’s business, GM says.
Rumor has it, Hummer’s new parent has agreed to aggressively fund all new future products.
Hummer has been on sale for the past year as a result of GM’s government mandated restructuring program. Speculated to be among the interested parties is previous owner AM General and China’s Hunan Chengfeng Motor Company.
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Shahir R. Ali General Manager and lead programmer at wemotor.com who loves cars and enjoys writing about them once in a while.
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Hummer HAMMER-ed..!!
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