GM Denines Rumours: No Other Brand Are Under Review
Wednesday, July 9th, 2008DETROIT - Several reports are prompting out that General Motors is considering the sale of more than just one of their eight brands. But a GM spokesperson today denied all allegations explaining that apart from Hummer, no other brands are under any review.
"No other GM brand (besides Hummer) is under strategic review,” GM spokesman Tony Cervone said in an e-mail to Automotive News today.
Out of eight GM brands, most of them including Saturn, Buick and Saab are struggling to attract the buyers. So the company has already made up their mind to review their Hummer division for sale and the prospective buyers may include Mahindra & Mahindra.
David Healy, an auto analyst with Burnham Securities, said that “GM has enough money to make it through this year but may need more cash in 2009. The automaker, he said, has ways to raise money other than selling brands.” (more…)







