General Motors is dumping Hummer as part of its efforts to restructure into a leaner, greener company. The company has issued a press release announcing a preliminary agreement to sell Hummer, a brand that has come to symbolize the obsession with oversized gas guzzlers that many believe helped to bring down America’s top auto manufacturers. Statements made by President Barack Obama and a GM President and CEO Fritz Henderson indicate that the company will focus on building more fuel-efficient vehicles in the future.
“Today marks the beginning of what will be a new company, a new GM dedicated to building the very best cars and trucks, highly fuel efficient, world class quality, green technology development, and with truly outstanding design,” Henderson stated at a recent press conference. He later explained to Caroline Hepker of the BBC that the company expects consumer demand for fuel efficient vehicles to remain strong in the future, particularly once the economic situation improves and gas prices start to rise again.
“So I'm confident that the steps I'm announcing today will mark the end of an old GM, and the beginning of a new GM; a new GM that can produce the high-quality, safe, and fuel-efficient cars of tomorrow; that can lead America towards an energy independent future; and that is once more a symbol of America's success,” Obama said in speech delivered earlier this week. The President also urged Congress work to jumpstart demand by passing legislation designed to provide a credit to consumers who trade in older, less efficient models for new, more efficient ones.
