GM has no plans to drop Hummer and Saab: exec

0 Comments | AFP, March, 2006

NEW YORK (AFP) — Struggling automaker General Motors has no plans to drop its Hummer and Saab brands despite pressure to cut down its brand portfolio, a senior executive said.

Hummer and Saab are "intrinsically woven" into GM's global strategy, Mark LaNeve, head of North American sales and marketing, said during a conference call.

Billionaire Kirk Kerkorian, who owns 9.9 percent of GM's shares, has said that GM needs to focus on its top nameplates if it is going to be able to get its finances back on track.

GM, which lost 10.6 billion dollars last year, is in the midst of laying off 30,000 workers and closing 12 facilities.

The world's largest automaker has been struggling with a steady decline in market share and a sharp drop in revenue when...