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GM to wind down Hummer after China sale fails
Reuters ^

Posted on 02/24/2010 2:12:49 PM PST by Sub-Driver

GM to wind down Hummer after China sale fails Photo 4:55pm EST

DETROIT (Reuters) - General Motors Co will wind down its Hummer SUV line after failing to complete a deal to sell the brand to China's Sichuan Tengzhong Heavy Industrial Machinery, the automaker said on Wednesday.

GM had been trying to complete the deal by the end of February after reaching a definitive agreement last year to sell Hummer to Tengzhong, a little-known heavy machinery company based in Sichuan province.

But the two companies failed to win approval for the deal from Chinese regulators within the proposed time frame, Tengzhong said in an emailed statement to Reuters.

The collapse of the deal represents another setback for GM, which had been working to shed unprofitable brands and focus on its four core brands -- Chevrolet, Cadillac, Buick and GMC -- after emerging from bankruptcy in July.

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


TOPICS: Business/Economy; Front Page News; News/Current Events
KEYWORDS: automakers; generalmotors; hummer; suv
Way to go Government Motors.........
1 posted on 02/24/2010 2:12:50 PM PST by Sub-Driver
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To: Sub-Driver

Yep. Government Motors is blazing a trail to non success..


2 posted on 02/24/2010 2:14:51 PM PST by b4its2late (A Liberal is a person who will give away everything he doesn't own.)
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To: Sub-Driver

The cynical side of me says that China got a good enough look to copy the durn thing and that’s all they really wanted.


3 posted on 02/24/2010 2:15:25 PM PST by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: Sub-Driver
Bomp....Bomp....Bomp........Another one bites the dust;

Bomp....Bomp....Bomp........Another one bites the dust;

Bomp....Bomp....Bomp........Another one bites the dust;

Bomp....Bomp....Bomp.....Another one bites the dust;
"
4 posted on 02/24/2010 2:16:05 PM PST by FrankR (Those of us who love AMERICA far outnumber those who love obama - your choice.)
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To: b4its2late

What a shame. I was holding out for the special Barack Obama edition.


5 posted on 02/24/2010 2:16:14 PM PST by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: HiTech RedNeck

Not much to copy since the H1 was discontinued. Just a GM pickup with a really stupid looking body.


6 posted on 02/24/2010 2:17:07 PM PST by Mr. Lucky
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To: Mr. Lucky

Seems “putting on the ritz” is popular in China, though.


7 posted on 02/24/2010 2:20:02 PM PST by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: Sub-Driver



8 posted on 02/24/2010 2:33:13 PM PST by Jeff Chandler (:: The government will do for health care what it did for real estate. ::)
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To: Sub-Driver

GM can stand for General Mismanagement also.


9 posted on 02/24/2010 2:39:54 PM PST by A_Tradition_Continues (formerly known as Politicalwit ...05/28/98 Class of '98)
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To: HiTech RedNeck

They have one already,

http://www.google.com/imgres?imgurl=http://cache-01.gawkerassets.com/assets/images/12/2009/02/Dongfeng_Brave_Soldier_TV.jpg&imgrefurl=http://jalopnik.com/5277381/how-do-the-chinese-feel-about-buying-hummer&h=559&w=804&sz=341&tbnid=d3sIYEPweFxFtM:&tbnh=99&tbnw=143&prev=/images%3Fq%3Dchinese%2Bhummer&usg=__b2NWLhEkbIlxIPyXK1T6E7SWW7c=&ei=r6yFS-G9JYOn8AbN-LiuAg&sa=X&oi=image_result&resnum=5&ct=image&ved=0CBQQ9QEwBA


10 posted on 02/24/2010 2:49:23 PM PST by headstamp 2 ("No Good Deed Goes Unpunished")
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To: Sub-Driver

Of course all design CAD files, manufacturing methods, assembly processes, and maintenance documentation was furnished to China as part of the purchase evaluation.


11 posted on 02/24/2010 2:51:46 PM PST by Waverunner ( "Think for yourselves and let others enjoy the privilege to do so too." Voltaire)
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To: Sub-Driver
If someone could make money from selling Hummers there would be a buyer for the Hummer division.

So, good riddance.

12 posted on 02/24/2010 2:53:28 PM PST by trumandogz (The Democrats are driving us to Socialism at 100 MPH -The GOP is driving us to Socialism at 97.5 MPH)
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To: Sub-Driver

China probably isn’t to excited about buying any car company from the Obama administration, they are not blind, they can see clearly what Obama is doing to Toyota. Investment in this country is going to dry up as long as the socialist are in power. Tit for tat I believe the U.S. is really going to get screwed over big time from other foreign countries until the socialist are voted out of office. My gut feeling is that in this country most investment in manufacturing has come from foreign investment, not from within. My gut feeling in the long run the U.S. will need these countries help more then these countries will need the U.S. Obama may win the battle of Toyota buy will lose the War against the rest of the World. Pay back could be hell.


13 posted on 02/24/2010 2:55:22 PM PST by ReformedBeckite
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To: HiTech RedNeck

I think the BO or BS edition was going to feature square tires, 6 speed reverse transmission with large mirror in lieu of a windshield. It was to come with a propeller on top fueled by interior exhaust. It was to be designed to sit unprotected in inter city neighborhoods. To bad we will miss it, emblem and all.


14 posted on 02/24/2010 3:02:28 PM PST by mcshot (The government can't give without first taking away and we're being robbed..)
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To: Sub-Driver

Does anyone know what happens to the military hummer? Is that a completely separate operation that will continue?


15 posted on 02/24/2010 3:23:40 PM PST by Cicero (Marcus Tullius)
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To: Cicero

Yes the Military Hummer is a completely different company and truck.


16 posted on 02/24/2010 3:28:59 PM PST by omega4179 (jdforsenate.com hunt some rinos 2010)
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To: Jeff Chandler

“Nothin’ beats a Hummer”...I can just hear Slick Willie saying that!


17 posted on 02/24/2010 3:29:52 PM PST by hawkboy
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To: Cicero
The military HMMWV is built by AM General. GM licensed the design of the H-1 from them.
18 posted on 02/24/2010 3:34:53 PM PST by Yo-Yo (Is the /sarc tag really necessary?)
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To: Sub-Driver

Hmmm, not even the Communist Chinese businessmen want to buy the cr@p GM designed/manufactured/sold to the US populace.

Why are US businessmen so retarded that Chinese Communists know more about business then we do?


19 posted on 02/24/2010 4:05:36 PM PST by gogogodzilla (Live free or die!)
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To: Mr. Lucky

My favorite comment about the Hummer was a letter in Car and Driver. The comment was the H2 and H3 are basically just Chev Blazers in a Halloween costume. Hilarious


20 posted on 02/24/2010 4:52:11 PM PST by Hardastarboard (Note to self: Never post in a thread about religion again.)
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To: Sub-Driver

These Hummers were not even close to the military AM General Hummer. besides te original H1 they are a POS! Good ridance!


21 posted on 02/24/2010 5:39:30 PM PST by klimeckg ("The penalty good men pay for indifference to public affairs is to be ruled by evil men.")
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