Regis Philbin
Sep 28th, 2006, 08:13 PM
http://money.cnn.com/2006/09/28/news/companies/gm_hummer/index.htm?cnn=yes
GM exec: We need more new Hummers
With sales up, brand needs broader portfolio of products, says GM VP at Paris Hummer dealer.
September 28 2006: 5:39 PM EDT
Paris (Reuters) -- General Motors Corp.'s Hummer brand needs to double its product lineup by adding two or three more models, the executive charged with GM's product planning told reporters on Wednesday.
"Hummer needs some more products. It needs two or three more products to give it sufficient market coverage," General Motors Vice Chairman Bob Lutz told reporters at the opening of a Hummer dealership in Paris.
Lutz said making a Hummer-branded pickup truck, which would have ample passenger seating, remained an "option."
Earlier this year GM faced pressure from activist investor Kirk Kerkorian to consider spinning off Hummer, which began as a high-mobility vehicle produced for the U.S. military.
But GM executives have argued that the brand is central to the automaker's strategy as it moves to cut costs, shore up market share and return to profitability in the U.S. market.
Sales of Hummer were up almost 50 percent in the first eight months of this year. By contrast, GM's overall sales were down 12 percent.
GM exec: We need more new Hummers
With sales up, brand needs broader portfolio of products, says GM VP at Paris Hummer dealer.
September 28 2006: 5:39 PM EDT
Paris (Reuters) -- General Motors Corp.'s Hummer brand needs to double its product lineup by adding two or three more models, the executive charged with GM's product planning told reporters on Wednesday.
"Hummer needs some more products. It needs two or three more products to give it sufficient market coverage," General Motors Vice Chairman Bob Lutz told reporters at the opening of a Hummer dealership in Paris.
Lutz said making a Hummer-branded pickup truck, which would have ample passenger seating, remained an "option."
Earlier this year GM faced pressure from activist investor Kirk Kerkorian to consider spinning off Hummer, which began as a high-mobility vehicle produced for the U.S. military.
But GM executives have argued that the brand is central to the automaker's strategy as it moves to cut costs, shore up market share and return to profitability in the U.S. market.
Sales of Hummer were up almost 50 percent in the first eight months of this year. By contrast, GM's overall sales were down 12 percent.