Friday, June 5, 2009

Today's Fly Or Die Commerce Report: GM Sells Its Hummer and Saturn Brands

According to The New York Times, General Motors has reached a "preliminary agreement" to sell its division of Hummer vehicles to a China-based car manufacturer. This preliminary deal was reported struck a day after GM filed for bankruptcy protection earlier this week.

General Motors is also allegedly slated to sell its Saturn division to Penske Automotive Group. According to CNN: "Penske is owned by former race car driver Roger Penske, who owns NASCAR and IndyCar racing teams."

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