Hummer is SOLD!

[Exitspeed]

http://www.autoblog.com/2009/10/09/breaking-gm-source-say-hummer-sold-to-chinese/


General Motors has reached an agreement to offload Hummer onto China's Sichuan Tengzhong Heavy Industrial Machinery, with Tengzhong taking an 80 percent stake and a private investor consuming the rest.

Details on the deal (available in the press release after the jump) include Hummer contacting vehicle manufacturing from GM, with the General's Shrevport and Mishawaka plants continuing to produce vehicles through June of 2011, with a possible extension until 2012. A recent report says the sale will net GM around $150 million, although the transaction still has to be approved by both U.S. and Chinese regulatory agencies, which could come later this year or in early 2010.

Tengzhong, which only produces commercial trucks and industrial equipment, has never entered into consumer vehicles before, but according to Yang Yi, chief executive officer of Tengzhong. "We are excited about some of the initiatives already underway at HUMMER that we believe our investment will be able to accelerate, particularly related to the creation of the next generation of more fuel-efficient vehicles to meet not only future regulations but also customer expectations."

[Source: GM | Photo by Scott Olson/Getty]


GM's numbers will look so much better at next year.

[07ROUSHSTG3]

LOL! now the government and the chinese have helped them out. they are going to have a lot of pockets to line if they ever start making money again.

in reality though. good news. the hummer brand was a fad that GM stuck way too much money into. hopefully the chinese still make them for a year or two and NOBODY buys one, then go bellyup. then hummer can go off in the sunset and be nothing but a memory. if the chinese make then crappy, that stigma may still hurt GM down the road. just my opinion.

[Car Guy]

I like Hummers......:D

[07ROUSHSTG3]

I like Hummers......:D

i never had a chinese one though :)

[70 cutlass 442]

GM really destroyed the name, but most people forgot that the origional hummer or HMMPV was never even intended for civilian sale... and when they did build them for public sale, AM general did a decent job at it.

[Smokey1226]

i never had a chinese one though :)
me 3!!! but its on my to do list..............literally :banana

[TheRX7Project]

Preez considel a Hummel fol yol nex vehicer!

[07ROUSHSTG3]

i still like seeing the actual hummer on the road. there was a guy around fondy that had a black one, just like from that tv show with the cop on the bike and the indian, can't think of it now, but they are badass!

[70 cutlass 442]

they are pretty cool to see... it sucks that they are sooo gutless when it comes to power.... I didnt know that they were thining when they offered them with a 350 for two years.... the 6.5 was bad enough, but a little 350 in a 6KLB truck doesnt work well.... Its to bad they killed the H1 alpha with the Dmax, my neighbor had one a while back and it hauled pretty good.

[TraceDaddy]

So Hummers are now official "Ricers"? Interesting.

[Yooformula]

Preez considel a Hummel fol yol nex vehicer!

omg:rolf:rolf

[Rocket Power]

GM really destroyed the name, but most people forgot that the origional hummer or HMMPV was never even intended for civilian sale... and when they did build them for public sale, AM general did a decent job at it.
H1 has to be the biggest vehicle with the least amount of room inside.:rolf
I assume they are just getting the H2 aka a boxy tahoe, and the h3 .

[Ricky Bobby]

i still like seeing the actual hummer on the road. there was a guy around fondy that had a black one, just like from that tv show with the cop on the bike and the indian, can't think of it now, but they are badass!

renegade was the show

[Larrygto]

So are the chinese going to make the military verson for us?

[TheRX7Project]

No.

[BoosTT]

h1 is cool, but I cant understand the $139k base msrp. 195hp, no room inside, and you can't even find a place that'll mount new tires because of the itis. Looks cool, and the h1 is already starting to increase in value again.

[Plum Crazy]

there is a yellow H1 for sale at the import dealer at the corners of 75th street and 39th Ave in Kenosha.

[Larrygto]

If they ever make the diesel H3T and get a dealer closer to me, I might consider buying one. If it's before the Chinese start building them.

[jbiscuit]

I can't believe someone even wanted to buy it. What a shitty brand to buy hahaha. Hummers were cool for what like 2-3 years tops?

[lordairgtar]

So are the chinese going to make the military verson for us?
They already are, but not for us. AM General helped them to set up this factory. The idea is to eventually build it all with Chinese sourced parts including engine, trans and other stuff. As it sits, the Chinese version now is made to accept numerous different power plants and weaponry. The Peoples Liberation Army would prefer the all Chinese version.

http://www.trucktrend.com/autoshows/coverage/163_0904_2009_auto_shanghai/photo_01.html

[TransAm12sec]

So a brand based off the American army vehicle is going to be owned by China. That's wacky. I remember seeing some short video awhile ago about how Hummers were cool in Asia.