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G.M. to Close Hummer After Sale Collapses
NYTimes ^ | February 24, 2010 | NICK BUNKLEY

Posted on 02/24/2010 1:40:42 PM PST by Steelfish

G.M. to Close Hummer After Sale Collapses

NICK BUNKLEY February 24, 2010 DETROIT — Hummer, the brand of big sport-utility vehicles that became synonymous with the term “gas guzzler,” is being shut down after a deal to sell it to a Chinese manufacturer fell apart, General Motors said Wednesday.

G.M. said only that its planned sale of Hummer to the Sichuan Tengzhong Heavy Industrial Machines Company “cannot be completed,” without giving a reason, but the $150 million deal had been stalled as the companies awaited approval from the Chinese government. G.M. had been trying to sell Hummer for a year, and struck a preliminary deal with Tengzhong last June.

The two companies had planned to close the deal by the end of January, then delayed the deadline by a month in the hopes of getting the green light from China.

“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," John Smith, G.M.’s vice president of corporate planning and alliances, said in a statement. "G.M. will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner."

It was the third time since G.M. emerged from bankruptcy protection last year that a deal to sell one of its unwanted brands collapsed. The company is shutting down Saturn after a sale fell through, and it began to halt operations at Saab after an agreement with Koenigsegg AB in Sweden was called off. G.M. later reached an agreement with a Dutch company, Spyker Cars; that deal closed Tuesday.

G.M. also is closing Pontiac but it never attempted to sell that brand.

(Excerpt) Read more at nytimes.com ...


TOPICS: Culture/Society; News/Current Events
KEYWORDS: automakers; china; generalmotors; hummer; manufacturing; pontiac; theend

1 posted on 02/24/2010 1:40:43 PM PST by Steelfish
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To: Steelfish
Hummer is a classic example of what is wrong with this country and liberals in general.

Hummer started out as a fantastic and awesomely cool idea - civilian version of military vehicle. Big, bad, bulky, mean.

Hummer was eventually commercialized, using jeep parts, dumbed down, flashed up, and became a horrifically overprices, gay looking, cheaply built pile of crap.

Good riddance. I hate liberals.
2 posted on 02/24/2010 1:43:32 PM PST by Bronco_Buster_FweetHyagh (I cling to guns and religion.)
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To: Steelfish

The Market does what a decade of screaming liberals couldn’t..


3 posted on 02/24/2010 1:43:33 PM PST by Paradox (The Party of Know.)
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To: Steelfish

Hell, they could sell hundreds of thousands of them if they would pattern them after the HMMWV with a powerful diesel engine instead of making them huge, ugly luxury vehicles.


4 posted on 02/24/2010 1:43:58 PM PST by Blood of Tyrants (Truth - Reality through the eyes of God.)
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To: Steelfish

Honestly, do we really need these beheamoths on our roads? I won’t miss this stupid beast.


5 posted on 02/24/2010 1:44:11 PM PST by bicyclerepair (FR - my online family. From Ft. Lauderdale, Florida)
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To: Steelfish

Boy these car huckers can’t close one deal to sell a product line. Did they forget to take their drivers licenses and lock the doors? ;-)


6 posted on 02/24/2010 1:46:01 PM PST by almost done by half
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To: Steelfish

Boy these car (hucksters) can’t close one deal to sell a product line. Did they forget to take their drivers licenses and lock the doors? ;-)

opps!


7 posted on 02/24/2010 1:47:33 PM PST by almost done by half
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To: Blood of Tyrants

They did originally start by selling the H1 (civilian HMMWV), and it was available stripped down as a real work machine. Sales were abysmal, because even stripped down, the truck is highly specialized, and cost well over $60,000. Hummer only took off when they started selling the slightly cheaper H2, which is a ruggedized Tahoe with a better body.


8 posted on 02/24/2010 1:48:47 PM PST by Little Pig (Vi Veri Veniversum Vivus Vici.)
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To: Steelfish

Obama can’t twist Chinese arms.


9 posted on 02/24/2010 1:48:53 PM PST by Sir Gawain
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To: Steelfish

Surely somebody with a spare $150M will buy it!........................


10 posted on 02/24/2010 1:49:07 PM PST by Red Badger (Education makes people easy to lead, difficult to drive; easy to govern, but impossible to enslave.)
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To: Bronco_Buster_FweetHyagh

Yep. I hate the H2 and H3. Huge, ugly, pimpmobiles. Couldn’t drive through a muddy yard without getting stuck. Make it more like the military version with the offset axles to give great ground clearance.


11 posted on 02/24/2010 1:50:08 PM PST by Blood of Tyrants (Truth - Reality through the eyes of God.)
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To: Bronco_Buster_FweetHyagh
using jeep parts,

This snip tells us you have no idea what you are talking about.

12 posted on 02/24/2010 1:51:44 PM PST by sam_paine (X .................................)
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To: Little Pig

Got to be able to make them cheaper than $60k.


13 posted on 02/24/2010 1:51:46 PM PST by Blood of Tyrants (Truth - Reality through the eyes of God.)
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To: Blood of Tyrants

Another company killed by the UAW and Pelosi/Reid 2006 Congress and their NO Energy Policy.

Also tahnk stinking Juan McCain for McCain-Feingold which gave use 2006 Dem Congres and Obama.


14 posted on 02/24/2010 1:53:03 PM PST by Frantzie (TV - sending Americans towards Islamic serfdom - Cancel TV service NOW)
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To: Blood of Tyrants

My friend has a H2.

Egregiously underpowered and uncomfortable...


15 posted on 02/24/2010 1:53:42 PM PST by TSgt (RE-ELECT NOBODY - VOTE THEM ALL OUT!)
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To: bicyclerepair

Honestly, do we really need these beheamoths on our roads? I won’t miss this stupid beast.

Wife wont let you have one huh.


16 posted on 02/24/2010 1:54:35 PM PST by bikerman (Buck Farack)
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To: Steelfish

The H2 is a pos. Way too heavy. A friend tried to back a 4k pound boat and trailer up a modest grade , it wouldn’t do it . He had to use 4 wheel low.He averaged 10 mpg.


17 posted on 02/24/2010 1:55:30 PM PST by rsobin
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To: bicyclerepair

Honestly, do we really need these beheamoths on our roads? I won’t miss this stupid beast.

Wife wont let you have one huh.


18 posted on 02/24/2010 1:55:36 PM PST by bikerman (Buck Farack)
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To: Steelfish
I remember when the Hummer became the prop of choice for rap and hip-hop videos a few years back. You couldn't make a video, it seemed, without having at least one tricked-out Hummer as a symbol of conspicuous consumption. Got real annoying, really fast.

Fortunately, I have a back up plan to meet my off-road needs:


19 posted on 02/24/2010 1:57:57 PM PST by DemforBush (Somebody wake me when sanity has returned to the nation.)
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To: bicyclerepair

What does need have to do with it?

Let consumers make their own choices.


20 posted on 02/24/2010 2:00:15 PM PST by SJSAMPLE
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To: Steelfish

I liked ‘em. Overpriced, though. Maybe I’ll buy one on the aftermarket in a few years.

SnakeDoc


21 posted on 02/24/2010 2:00:23 PM PST by SnakeDoctor (Do you know if the hotel is pager friendly? [...] I'm not getting a sig on my beeper.)
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To: Blood of Tyrants

Not really. They cost nearly that much to the military, and that’s before minimal safety equipment was added (back in the ‘90s air bags weren’t mandatory on them): they needed better seats, locking doors, and an ignition key, among other things. Air conditioning was pretty much mandatory because of how intrusive the drivetrain is. They have those gear drives at the wheel hub, and all the waterproofing on the engine. Most also had hard tops, which added to the cost. The civilian version really was the same truck as the military version, with a few extra systems to make it saleable to the public.


22 posted on 02/24/2010 2:00:53 PM PST by Little Pig (Vi Veri Veniversum Vivus Vici.)
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To: Blood of Tyrants
Got to be able to make them cheaper than $60k.

Heck for that price you can just pick up a used Iraqi T-55. Same gas millage, better cross country performance than the H2 and you get the cool 100mm anti theft device.
23 posted on 02/24/2010 2:01:16 PM PST by GonzoGOP (There are millions of paranoid people in the world and they are all out to get me.)
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To: Bronco_Buster_FweetHyagh
Ya ever see the dummies with the flashy chrome wheels slapped on their hummers and other SUVs?

South of the border mentality must be contagious...

Every time I see an SUV with the flashy wheels, it makes me cringe...

24 posted on 02/24/2010 2:03:26 PM PST by dragnet2
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To: Little Pig

Military HMMWVs started at $26,500 for the base, BASE model (cloth doors, roof, no winch, etc.).

The civilian model retailed at around $100k (my USAR Field Artillery commander was the AM General marketing VP).


25 posted on 02/24/2010 2:13:07 PM PST by SJSAMPLE
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To: SJSAMPLE

The two-door base model civilian H1 listed at around $56,000 in 1990s dollars. Only the four door wagon model was over $100,000.


26 posted on 02/24/2010 2:15:28 PM PST by Little Pig (Vi Veri Veniversum Vivus Vici.)
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To: SJSAMPLE

I guess it matters a lot what year you are talking about. On further review, the early 1992 models were all under $60,000 (the wagon was in the high 50s). The 2005-6 Alpha models were all well over 100k.


27 posted on 02/24/2010 2:22:01 PM PST by Little Pig (Vi Veri Veniversum Vivus Vici.)
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To: bicyclerepair

I want one just to piss off the tree-hugging liberals ; )


28 posted on 02/24/2010 2:22:25 PM PST by ravingnutter
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To: Steelfish

H-1 Rocks. Others not so much.
If I ever have more money than sense, I will try to get a used H-1. Hell of an off road beast. Then tailgate a prius on the freeway. YEEEEHAWWW


29 posted on 02/24/2010 2:27:21 PM PST by Texas resident (Hunkered Down)
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To: bicyclerepair
Honestly, do we really need these beheamoths on our roads?

Need has nothing to do with it. It's called capitalism, are there enough folks that want one.

I don't "need" an airplane, but I sure don't want someone telling me I can't have one because "they" think I don't need it.

30 posted on 02/24/2010 2:36:50 PM PST by MrPiper
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To: Steelfish

This is payback for Obama meeting with the Dali Lama.


31 posted on 02/24/2010 2:47:12 PM PST by wiggen (Never in the history of our great country have the people had less representation than they do today)
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