Hummer officially sold to China’s Tengzhong

It’s official, China’s Sichuan Tengzhong Heavy Industrial Machinery Company has signed a definitive agreement to purchase the Hummer brand from General Motors.

Hummer’s leadership team will remain in place and the company will be headquartered in Detroit.

For the interim, Hummer will contract with GM to produce the H3 and H3T at the automaker’s Shreveport, Louisiana, assembly [...]

GM Hummer to sell for $165 million to Chinese

General Motors is working hard to restructure itself to become profitable once again, as part of that process it needs to shed its non-profitable brands as quickly as possible.

One of the lowest performing brands in the GM stable is Hummer which is expected to sell to China’s Sichuan Tengzhong Heavy Industrial Machinery Co. for [...]

‘New GM’ exits bankruptcy – prepares for future

Leaner, meaner and a with a whole lot less debt than it had 40 days ago, a new General Motors Company has emerged from Chapter 11 bankruptcy protection in the United States.

GM’s chief executive officer, Fritz Henderson, has described the new company as the “most public private company in the world” a reference to the [...]

China could block Hummer sale – again

Chinese state radio is today claiming that the upcoming sale of GM’s Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery will be blocked due to environmental concerns.

It’s the second time this month the deal has been threatened following an announcement from the government last fortnight that building Hummer vehicles went against Beijing’s policy of developing [...]

Hummer going Chinese before October

Get used to this name: “Sichuan Tengzhong Heavy Industrial Machinery” (STHIM), the new owner of GM’s once popular Hummer brand has announced that it aims to finalise the deal before October.

STHIM General Manager Yang Yi said in an interview with the Us industry publication Autonews that his company has no intentions of transferring Hummer equipment [...]

Hummer deal threatened by Chinese Govt

The Chinese heavy machinery maker that agreed to buy General Motors’ Hummer brand may find the biggest stumbling blocks to the deal in its home country.

Following last week’s surprise announcement that Sichuan Tengzhong Heavy Industrial Machinery and GM had reached an agreement, analysts and Chinese media were buzzing with talk that the two companies might [...]

Penske buys Saturn from GM

He’s been a racing driver, is a race team owner who just won the Indy 500 for the 15th time, a highly successful and very wealthy businessman, and now Roger Penske is also the proud owner of the not quite so proud General Motors brand Saturn.

General Motors Corporation has reached a preliminary agreement to sell [...]

GM to sell Hummer to Chinese company

General Motors Corporation has revealed it has reached a tentative deal to sell its Hummer brand to a privately held Chinese company, part of an effort to drop four unprofitable vehicle lines and leave bankruptcy as a leaner company.

GM, a day after filing for bankruptcy, said in a statement that it reached a memorandum of [...]

GM says selling Hummer

Update: Sichuan Tengzhong Heavy Industrial Machinery Co named as buyer. Revised story coming.
Following General Motors declaring bankruptcy earlier today, the company has now announced it has entered into a Memorandum of Understanding (MoU) with a buyer for its once strong Hummer brand.

Although most suspected the sale to happen sooner than later, GM says it’s a [...]

GM Holden future secure – Reuss

In a significant move GM Holden, the Australian subsidiary of General Motors, has been quick to assure that the dramatic moves in the United States will not have a direct impact on Australian workers or the Australian car industry.

The Chairman and Managing Director of GM Holden, Mark Reuss, told a news conference this morning that [...]

GM tells 1600 US dealers “it’s over”

General Motors Corporation has said it will drop about 1600 US dealers as it struggles to slash billions of dollars in operating costs and debt ahead of an anticipated bankruptcy filing by the end of this month.

Taken together with a similar announcement by bankrupt Chrysler LLC, now in a merger with Italian carmaker Fiat, a [...]

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