Ok, I know this car creates quite the controversry. When Ryan and I purchased our AWESOME 2006 H3- we recieved a LOT of criticism (that we didn't ask for). Regardless of what others say, we have learned not to listen to people (after very expensive lessons) English bulldogs are GREAT companions (yeah ours was aggressive and cost us THOUSANDS of dollars in damage!) buy a house now or you never will get into one (ha!) and after we have heard bad advice after bad advice- we have thrown caution to the wind and do our own thing- after all, WE are the ones paying for it.
Regardless, when we bout our ADOREABLE H3 a few years ago, we recieved a lot of unsolicited criticism- people thought we paid a ridiculous amount for it (yeah right! It wa totally within our budget!) we were tld we were environmentally hating people (uhh it gets better gas mileage than my mazda 6- yeah. About 22 mpg) and people thought we were just snobs. Well we're not. It was between that and an Audi- two seater so it's a good thing we went with a more 'family friendly' car. Anyhow, I saw this article and it made me sad... very sad... despite what others may say, Ryan and I have been VERY happy with our Hummer. We thought about getting another one for me (in a pretty slate blue color) and I am sad to read this article...
GM ready to pull plug on Hummer
Posted Feb 26 2009, 11:44 AM by Kim Peterson
Filed under: GM, Kim Peterson, automotive
Get ready to say goodbye to one of the most polarizing and controversial cars to ever hit the road. General Motors (GM) has been desperately shopping its Hummer brand around, but as weeks tick by with no clear buyer it's looking like Hummer production will soon end.
GM has said it would decide by next month whether to kill the Hummer line. But that could happen as early as next week, according to the Financial Times. Hummer's heyday was in 2006, when it delivered nearly 72,000 models in the U.S., but sales fell 51% last year.
Hummer would join a number of other GM models in the automotive graveyard. Saab is also for sale, and will receive bankruptcy protection in Sweden. Pontiac will become a niche brand with just one or two models. Saturn is headed for a 2011 phase-out.
It's sad to see so many names go, but GM needs to throw out the dead weight if it hopes to become a healthy, profitable company. Saturn, Hummer and Saab generated an average pretax loss of $1.1 billion a year between 2003 and 2007, according to the Globe and Mail.
GM's survival was even more in doubt Thursday, after the company said it burned through $6 billion in its fourth quarter. Quarterly sales fell by a third to about $31 billion.
GM is closing plants and cutting production, and it expects to burn through another $14 billion this year. Its bank account is pretty much shot; it ended the near with just $14 billion in cash -- including the first $4 billion in loans it received from the government.
GM has said it needs at least $11 billion to $14 billion to stay in business, according to the Financial Times.
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