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GM plans to sell Hummer brand, plant

September 25, 2008|From Times Staff and Wire Services

General Motors Corp.'s treasurer said the automaker planned to sell its Strasbourg, France, manufacturing operation and its Hummer truck brand, and it may announce more asset sales later this year.

GM's Walter Borst said the assets under review were worth $2 billion to $4 billion.

GM and other automakers have faced liquidity problems as losses have mounted and U.S. sales have declined. GM announced a plan in July to cut $10 billion in costs and raise an additional $5 billion through asset sales and borrowing.

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