The loss of an Icon, Hummer sold to China.
http://blog.leasetrader.com/images/blog_leasetrader_com/WindowsLiveWriter/ChinesecompanywillbuyHummerfromGM_F4BE/Chinese%20company%20will%20buy%20Hummer%20from%20GM%201_thumb.jpg

Sales were bad for GM.

Sales of GM commercial Truck and Fleet accounted for 1.3 to 1.5 billion vehicles during the last five years. A spected figure between 260.000 to 300.000 vehicles a year. But the GM truck sales were diminished during the second quarter of 2009, among the most notable, the Chevrolet Silverado which saw a 31% drop in the month of June.

During the same month of June GM filed for Chapter 11 bankruptcy ceasing the production of medium-duty trucks. By July 31 the company ceased the production of the Chevrolet Kodiak and GMC Topkick medium-duty trucks, these vehicles dropped from 30.000 in 2007 to 20.000 in 2008.

The medium-duty truck business had not been successful during the last years forcing GM to divert workers to other plants and offer emergency plans. The Hummer brand for example, was sold to a Chinese heavy machinery company.
Source(s):
http://findarticles.com/p/articles/mi_m3012/is_11_184/ai_n7180192/

http://subscribers.wardsauto.com/ar/gm_june_sales_090701/wall.html?return=h...

http://www.worktruckonline.com/News/Story/2009/06/GM-Ends-Production-of-Med...

Asker's Rating:

Permalink | Report