GM: Update on Hummer Due in First Quarter

"We've been in discussions (regarding Hummer) with interested parties. Those talks are moving along quickly and we'll have something to say about Hummer in the first quarter of next year," said GM President Fritz Henderson in a conference call with media regarding the government's rescue package for GM and Chrysler.

Henderson said that announcement would be either "a deal to be had or a different path" that Hummer would take.

At the same time, GM is evaluating what it should do with Saab, with an option being its sale. Henderson gave no indication on Saab's future. He said the evaluation of the Swedish marque is being done in Europe where Saab sells nearly 75 percent of its vehicles.

As for Saturn, GM is in discussions with its Saturn dealers as to the future of the brand, Henderson said. Rumors regarding the future of Saturn have ranged from being sold to GM's Chinese partner, SAIC, to the Saturn dealers themselves running the business.

Inside Line says: The future of GM's brands continues to hang in the balance as the automaker receives government bridge loans. — Michelle Krebs, Editor, Edmunds' AutoObserver.com