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Author Topic: Hummer officially dead as GM sale to China goes bust  (Read 2486 times)

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Offline NHSparky

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Hummer officially dead as GM sale to China goes bust
« 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/
« Last Edit: February 25, 2010, 09:57:25 PM by Chris »
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Offline ReaganForRushmore

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Re: Hummer officially dead as GM sale to China goes bust
« Reply #1 on: February 24, 2010, 09:48:49 PM »
why pay for something you can pick up for pennies on the dollar?
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Offline Chris

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Re: Hummer officially dead as GM sale to China goes bust
« Reply #2 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.

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Offline Chris_

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Re: Hummer officially dead as GM sale to China goes bust
« Reply #3 on: February 25, 2010, 08:18:36 AM »
Who the hell would want a Chinese Hummer anyway?? 
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Offline JohnnyReb

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Re: Hummer officially dead as GM sale to China goes bust
« Reply #4 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:
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Offline thundley4

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Re: Hummer officially dead as GM sale to China goes bust
« Reply #5 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.  :-)

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Offline Randy

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Re: Hummer officially dead as GM sale to China goes bust
« Reply #6 on: February 25, 2010, 12:56:28 PM »
I know of alot of guys with a fetish for Asians.... just sayin'   :uhsure:
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Offline MarshallLaw

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Re: Hummer officially dead as GM sale to China goes bust
« Reply #7 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.
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Offline Chris_

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Re: Hummer officially dead as GM sale to China goes bust
« Reply #8 on: February 25, 2010, 01:05:08 PM »
Oh, ha ha....  ::)
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Offline NHSparky

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Re: Hummer officially dead as GM sale to China goes bust
« Reply #9 on: February 25, 2010, 01:06:52 PM »
So I guess Obumble finally found something that wasn't, "too big to fail."
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Offline Chris_

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Re: Hummer officially dead as GM sale to China goes bust
« Reply #10 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:
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