Two Gulf Arab investors have expressed interest in buying General Motors Corp's (GM) Hummer brand. GM was readying sales documents for its Hummer brand and had initial interest from potential buyers, that it hoped to develop into formal sale talks, the automaker's Chief Executive Rick Wagoner had said earlier.
Rapid economic growth, low fuel prices and the brand's position as a status symbol have made the Gulf one of the biggest buyers of the Hummer. Abu Dhabi's Mubadala Development bought a 5 percent stake in Ferrari in 2005, while Kuwait's Investment Dar bought half of Aston Martin last year. India's Mahindra & Mahindra was rumoured to be one of prospective buyers. But, they were prompt to refuse...
With the world moving towards smaller & fuel efficient, cars such as the iconic Hummer may end up being relevant only in the oil rich Middle East
No comments:
Post a Comment