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AP Source: GM to sell Hummer to Chinese company
Business Week ^

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 ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events; US: Michigan
KEYWORDS: automakers; china; generalmotors; gm; hummer; manufacturing; michigan; tengzhong

1 posted on 06/02/2009 1:20:49 PM PDT by Oakeshott
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To: Oakeshott

Hummers rock, even the chicoms now this.


2 posted on 06/02/2009 1:22:21 PM PDT by Fred (Proud Member of the Obama Enemies List)
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To: Fred

KNOW this


3 posted on 06/02/2009 1:22:42 PM PDT by Fred (Proud Member of the Obama Enemies List)
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To: Oakeshott

A Hummer? Chinese money? Technology winds up in China’s hands?

Reminds me of the clinton years.


4 posted on 06/02/2009 1:23:14 PM PDT by icwhatudo (For every clinic bombed or burned, 17 to 18 churches are burned down. MSM? MSM?)
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To: Oakeshott

I’ve heard Chinese hummers are quite popular.


5 posted on 06/02/2009 1:23:22 PM PDT by TheWasteLand
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To: Oakeshott

who is going to want a chinese hummer? oh, wait, that’s not what I meant . . .


6 posted on 06/02/2009 1:23:40 PM PDT by JohnBrowdie (http://www.stink-eye.net)
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To: TheWasteLand

I’d prefer a japanese hummer.


7 posted on 06/02/2009 1:24:59 PM PDT by Travis T. OJustice (I can spell just fine, thanks, it's my typing that sucks.)
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To: Oakeshott

“You buy our t-bills & we give you Hummers.”
US Treasury Dept.


8 posted on 06/02/2009 1:25:20 PM PDT by tumblindice (And we'll throw in `Black Beauty')
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To: Oakeshott

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.


9 posted on 06/02/2009 1:26:09 PM PDT by Texan Tory
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To: Fred

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?


10 posted on 06/02/2009 1:26:25 PM PDT by sheikdetailfeather (We're Not In Kansas Anymore, Toto!)
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To: Oakeshott

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.


11 posted on 06/02/2009 1:26:54 PM PDT by Tarpon (You abolish your responsibilities, you surrender your rights.)
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To: Oakeshott

Me drive you long time.


12 posted on 06/02/2009 1:28:01 PM PDT by SlowBoat407 (To those crying racism: Sometimes it's not about you.)
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To: Oakeshott

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.

http://www.OurHussein.com


13 posted on 06/02/2009 1:29:36 PM PDT by publius321
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To: icwhatudo
Technology winds up in China’s hands?

The technology for crappy, poor quality, over priced, gas guzzling SUVs? They can have it.

14 posted on 06/02/2009 1:31:33 PM PDT by Non-Sequitur
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To: Oakeshott

Hungary should have bought it. Something about a Hunky Hummer that rolls of the tongue.......


15 posted on 06/02/2009 1:36:52 PM PDT by ebshumidors
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To: Non-Sequitur

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.


16 posted on 06/02/2009 1:37:04 PM PDT by rsobin
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To: publius321
The GM Hummer bears no similarity whatever to the American General Humvee. The former is a dressed up GM SUV while the latter is a military contracted vehicle.

Humvees are not built by GM, but by AM General in Mishawaka, Indiana.

17 posted on 06/02/2009 1:37:53 PM PDT by Mr. Lucky
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To: rsobin

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.


18 posted on 06/02/2009 1:40:38 PM PDT by Non-Sequitur
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To: rsobin

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.”


19 posted on 06/02/2009 1:44:32 PM PDT by 12Gauge687 (Extremism in the defense of liberty is no vice)
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To: Oakeshott

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


20 posted on 06/02/2009 1:44:39 PM PDT by RaceBannon (We have sown the wind, but we will reap the whirlwind. NObama. Not my president.)
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To: Oakeshott

Hummers to Chicoms? They won’t be selling many vehicle here and I won’t be buying one.


21 posted on 06/02/2009 1:47:20 PM PDT by Vendome
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To: JohnBrowdie

LOL


22 posted on 06/02/2009 1:47:34 PM PDT by Vendome
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To: Texan Tory

can you imagine the owners manual? It will be in chinglish and unusable.


23 posted on 06/02/2009 1:48:37 PM PDT by Vendome
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To: SlowBoat407

How much?


24 posted on 06/02/2009 1:49:33 PM PDT by Vendome
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To: Mr. Lucky

Thanks for clearing that up.

Still, I thought AMG went the way of the Pacer.


25 posted on 06/02/2009 1:51:26 PM PDT by Vendome
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To: Oakeshott

Your fleece trade deficit dollars at work.


26 posted on 06/02/2009 1:51:59 PM PDT by ex-snook ("Above all things, truth beareth away the victory.")
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To: Oakeshott

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.


27 posted on 06/02/2009 1:52:20 PM PDT by henkster (The GOP is housebroken window-dressing displayed to portray the fiction of a Republic.)
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To: Oakeshott

We are so pwned by the ChiComs.


28 posted on 06/02/2009 1:54:51 PM PDT by dfwgator (The Huskies are Gator Bait!)
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To: Mr. Lucky

Thanks fo the info Mr. Lucky.

I was just being facetious.


29 posted on 06/02/2009 1:58:51 PM PDT by publius321
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To: Oakeshott

Look at all those clazy Humma divers 4-wheelin in the rice patties!


30 posted on 06/02/2009 2:02:55 PM PDT by AngelesCrestHighway
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To: Mr. Lucky
Apparently American General makes the H1 and H2 for GM as well as the HUMVEE for the government

http://www.amgeneral.com/corporate/history.php

(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.)

31 posted on 06/02/2009 2:05:06 PM PDT by NathanR
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To: Vendome

twenny dollar, just like downtown.


32 posted on 06/02/2009 2:05:39 PM PDT by SlowBoat407 (To those crying racism: Sometimes it's not about you.)
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To: Oakeshott

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.


33 posted on 06/02/2009 2:07:43 PM PDT by BoringGuy
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To: Non-Sequitur
and any comparison between the two is purely accidental.

Fine. Then I won't say what I was going to say. Just keep the thread to yourself. ;0)

34 posted on 06/02/2009 2:23:27 PM PDT by paulycy (BEWARE the LIBERAL/MEDIA Complex)
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To: SlowBoat407

will you hold me! LoL


35 posted on 06/02/2009 2:37:26 PM PDT by Vendome
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To: Oakeshott

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.


36 posted on 06/02/2009 2:37:29 PM PDT by DoughtyOne (Obama is mentally a child of ten. Just remember that when he makes statements and issues policy.)
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To: NathanR

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?


37 posted on 06/02/2009 2:39:29 PM PDT by DoughtyOne (Obama is mentally a child of ten. Just remember that when he makes statements and issues policy.)
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To: ebshumidors
Something about a Hunky Hummer that rolls of the tongue.......

No swallow?

38 posted on 06/02/2009 3:01:17 PM PDT by Right Wing Assault ( Obama, you're off the island!)
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To: SlowBoat407

ROFL!


39 posted on 06/02/2009 3:06:36 PM PDT by diverteach (http://www.slapobama.com/)
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To: NathanR

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.


40 posted on 06/02/2009 3:18:18 PM PDT by Mr. Lucky
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To: NathanR

Knda ironic, eh?, that vestigal manufacturing units of Willys-Overland and Studebaker Packard combined to outlive General Motors.


41 posted on 06/02/2009 3:28:42 PM PDT by Mr. Lucky
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To: DoughtyOne
No. American General manes HUMVEEs for our military. they also made H1 and H2 Hummers for GM as well. The H3 is all GM. They stopped making H1s a few years ago and the H2s around the first of the year when GM started having so many problems.
42 posted on 06/02/2009 3:39:46 PM PDT by NathanR
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To: Mr. Lucky

Sad too. However, GM still technically exists. (as a zombie)


43 posted on 06/02/2009 3:42:38 PM PDT by NathanR
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To: NathanR

Thanks NathanR.


44 posted on 06/02/2009 4:01:36 PM PDT by DoughtyOne (Obama is mentally a child of ten. Just remember that when he makes statements and issues policy.)
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To: Oakeshott

It will end up the same size, but with seating for 24.


45 posted on 06/02/2009 4:02:58 PM PDT by kjam22
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To: Mr. Lucky
The GM Hummer bears no similarity whatever to the American General Humvee.

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.

46 posted on 06/02/2009 4:42:21 PM PDT by TigersEye (Cloward-Piven Strategy)
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To: Vendome
can you imagine the owners manual? It will be in chinglish and unusable.

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.

47 posted on 06/02/2009 5:31:27 PM PDT by calex59
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