The Conservative Cave

Current Events => Breaking News => Topic started by: NHSparky on February 24, 2010, 07:31:48 PM

Title: Hummer officially dead as GM sale to China goes bust
Post by: NHSparky on February 24, 2010, 07:31:48 PM
General Motors has just announced that its deal to sell its Hummer brand to a Chinese manufacturer fell apart.

GM was to sell the brand of rugged SUVs whose popularity waned as gas prices spiked to Sichuan Tengzhong Heavy Industrial Machines Co., Ltd. in China in a deal worth $150 million.

The Detroit automaker did not disclose why the deal fell apart, only stating:

“One year ago, General Motors announced that we were going to divest HUMMER, as part of focusing our efforts on Chevrolet, Buick, GMC and Cadillac going forward. We have since considered a number of possibilities for HUMMER along the way, and we are disappointed that the deal with Tengzhong could not be completed,” said John Smith GM vice president of corporate planning and alliances. “GM will now work closely with HUMMER employees, dealers and suppliers to wind down the business in an orderly and responsible manner.”

GM added that it will honor Hummer warranties and provide service support and spare parts to Hummer owners globally.

Amid its Chapter 11 bankruptcy last year, GM said it would kill off its Saturn, Saab, Pontiac and Hummer brands. Saturn was to be sold to Penske, but that deal fell apart, too.

http://auto.freedomblogging.com/2010/02/24/hummer-officially-dead-as-gm-sale-to-china-goes-bust/29185/
Title: Re: Hummer officially dead as GM sale to China goes bust
Post by: ReaganForRushmore on February 24, 2010, 09:48:49 PM
why pay for something you can pick up for pennies on the dollar?
Title: Re: Hummer officially dead as GM sale to China goes bust
Post by: Chris on February 24, 2010, 09:59:13 PM
In other news, Spyker completed their purchase of Saab from General Motors.  They're planning another model 92, which is a small, subcompact rally/sports car.

Title: Re: Hummer officially dead as GM sale to China goes bust
Post by: Chris_ on February 25, 2010, 08:18:36 AM
Who the hell would want a Chinese Hummer anyway?? 
Title: Re: Hummer officially dead as GM sale to China goes bust
Post by: JohnnyReb on February 25, 2010, 09:11:01 AM
Quote from: SherryBaby on February 25, 2010, 08:18:36 AM
Who the hell would want a Chinese Hummer anyway?? 

All the DUmmies......especially if you could get them at WAL-MART.... :rotf:
Title: Re: Hummer officially dead as GM sale to China goes bust
Post by: thundley4 on February 25, 2010, 09:14:53 AM
Quote from: SherryBaby on February 25, 2010, 08:18:36 AM
Who the hell would want a Chinese Hummer anyway?? 
:uhsure:  I'm just going to walk away and be quiet.  :-)

Title: Re: Hummer officially dead as GM sale to China goes bust
Post by: Randy on February 25, 2010, 12:56:28 PM
I know of alot of guys with a fetish for Asians.... just sayin'   :uhsure:
Title: Re: Hummer officially dead as GM sale to China goes bust
Post by: MarshallLaw on February 25, 2010, 01:04:18 PM
Quote from: thundley4 on February 25, 2010, 09:14:53 AM
:uhsure:  I'm just going to walk away and be quiet.  :-)



I should probably go with you.
Title: Re: Hummer officially dead as GM sale to China goes bust
Post by: Chris_ on February 25, 2010, 01:05:08 PM
Oh, ha ha....  ::)
Title: Re: Hummer officially dead as GM sale to China goes bust
Post by: NHSparky on February 25, 2010, 01:06:52 PM
So I guess Obumble finally found something that wasn't, "too big to fail."
Title: Re: Hummer officially dead as GM sale to China goes bust
Post by: Chris_ on February 26, 2010, 05:39:54 PM
Quote from: thundley4 on February 25, 2010, 09:14:53 AM
:uhsure:  I'm just going to walk away and be quiet.  :-)




 :rotf: