Skip to comments.AP Source: GM to sell Hummer to Chinese company
Posted on 06/02/2009 1:20:48 PM PDT by Oakeshott
General Motors Corp. took a key step toward its downsizing on Tuesday, striking a tentative deal to sell its Hummer brand to a Chinese manufacturer, while also revealing that it has potential buyers for its Saturn and Saab brands.
GM has an agreement to sell its Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery Co. of China, said a person briefed on the deal.
The Detroit automaker announced Tuesday morning that it had a memorandum of understanding to sell the brand of rugged SUVs, but it didn't identify the buyer. A formal announcement of the buyer was to be made Tuesday afternoon, said the person briefed on the deal. The person spoke on condition of anonymity because the details have not been made public.
Sichuan Tengzhong deals in road construction, plastics, resins and other industrial products, but Hummer would be its first step into the automotive business.
GM said the sale will likely save more than 3,000 U.S. jobs in manufacturing, engineering and at various Hummer dealerships.
(Excerpt) Read more at businessweek.com ...
Hummers rock, even the chicoms now this.
A Hummer? Chinese money? Technology winds up in China’s hands?
Reminds me of the clinton years.
I’ve heard Chinese hummers are quite popular.
who is going to want a chinese hummer? oh, wait, that’s not what I meant . . .
I’d prefer a japanese hummer.
“You buy our t-bills & we give you Hummers.”
US Treasury Dept.
Wow. Where do I sign up to learn to speak Mandarin Chinese? Because the way things are going, it’s starting to look like they will be our future overlords.
Will Master Obama allows the American slaves to import the Hummers? Now China can pollute even more than they do and we must be forced to drive electric cars so we don’t pollute. Duh?
I only have two references about Hummer, so it might not be totally true.
First I thought seriously about buying a H3. After a series of drive tests, no way. Tippy, drive dynamics sucked, jsut the whole package was out of date styled and executed. The local dealer went bust about a year ago.
Second a doctor friend has ownered an H2 for 3 years, he says no way would he buy another. Way too many problems.
So that’s my tale and I’m sticking to it. No hummer for me.
Me drive you long time.
This is a brilliant move by the Chi coms as they strategize our demise.
Now that they will be a huge military vendor, perhaps we should also sell them Lockheed, Raytheon & General Dynamics. We can give them “conversion features” like on those GM Preferreds where if they keep buying our Treasuries, they can convert them to NASA shares as well.
The technology for crappy, poor quality, over priced, gas guzzling SUVs? They can have it.
Hungary should have bought it. Something about a Hunky Hummer that rolls of the tongue.......
You are correct. H2’s 10 mpg on a good day. My friend couldn’t back his 3500lb boat up his driveway with a 6 liter hummer because the thing is so heavy to start with. Had to put it in 4wd. His old suburban did it just fine.
Humvees are not built by GM, but by AM General in Mishawaka, Indiana.
I think people confuse the Hummer with the Humvee that the military uses. GM doesn’t manufacture those, and any comparison between the two is purely accidental.
The H2 is built on a Tahoe platform and the H3 is built on the Trailblazer platform; of the four, I think the Tahoe and Trailblazer are more utilitarian.
On a duck hunt 2 years ago when one of the hunters showed up in a Hummer H2, the guide said, “Hey, this ain’t ‘Pimp My Ride.’ We’re duck hunting.”
Obama taught us that Iranians can have nukes but we have to have solar power and electric cars
and now, Obama taught us that China can have Hummers but we cannot have a private auto industry
Hummers to Chicoms? They won’t be selling many vehicle here and I won’t be buying one.
can you imagine the owners manual? It will be in chinglish and unusable.
Thanks for clearing that up.
Still, I thought AMG went the way of the Pacer.
Your fleece trade deficit dollars at work.
This is going to save American manufacturing jobs? What are they smoking? The Chicoms will close the plant and move the machine tools to Canton, where they will be manufactured from now on.
We are so pwned by the ChiComs.
Thanks fo the info Mr. Lucky.
I was just being facetious.
Look at all those clazy Humma divers 4-wheelin in the rice patties!
(I had never heard of this company, before. It has been a part of many famous companies, including Willis, Kaiser, American Motors, LTV and others. Now it exists as a separate entity.)
twenny dollar, just like downtown.
I suspect this will work out as well as did the IBM -> Lenovo laptop division sale. After manufacturing moves to China (as it inevitably will) the quality fade will make everyone long for current level of GM/UAW lack of quality.
Fine. Then I won't say what I was going to say. Just keep the thread to yourself. ;0)
will you hold me! LoL
GM is unloading a number of divisions. I heard some GM spokeshole this afternoon talking about returning to 14 million unit sales in the near future. How do you do that when you have sold off so many divisions that contributed to the 14 million unit sales level?
Those divisions did contribute to that figure didn’t they?
If so, then I think it’s silliness to think they’ll be back at 14 million unit sales any time soon, if ever.
Saturn was a well respected brand. So was Humvee in it’s nitch market.
Some people strive to build a new brand, and GM had them, yet they’re happy as hogs in mud to dump them. I don’t get it.
How do you close 2,000 dealerships, sell off brands, focus on cars nobody wants, then expect to make a thrilling recovery?
Good luck GM. Or should I say good luck taxpayers? We own what, 70% of GM now.
So China is going to make HUMVEES for our military now? Are we going to let them make our tanks and other military equipment too?
Local news reports indicate that AM General discontinued all work on H2’s last January (apparently they wanted to be paid). The H3’s are manufactured by GM but share no common parts with the Humvee and are merely dressed up GM SUV’s. All AM General employees previously assigned to the H2 work were reassigned within AM General and there was no loss of employment upon termination of the GM contract.
Knda ironic, eh?, that vestigal manufacturing units of Willys-Overland and Studebaker Packard combined to outlive General Motors.
Sad too. However, GM still technically exists. (as a zombie)
It will end up the same size, but with seating for 24.
That is so true. The most special thing about the Humvee was its unique drive train. GM just stuck a basic GM 4X4 drive train in their Hummers. Nothing special.
I remember back in the day I bought a Suzuki 250 Motorcycle and raced it for a while. The owner's manual was printed in English but was almost incomprehensible. None of the sentences made sense. I can just imagine what a Chinese owner's manual for a Hummer would read like.