More news of the weird from the US this afternoon with a Missouri car dealership offering a free shotgun with every new Hummer sold.
Following the recent slow down in GM sales, the dealership decided to sell guns in the same showroom as its cars. It seems it didn’t take long to put two-and-two together.
“There is [...] - Tags:
After the sale of the Hummer brand to China’s Sichuan Tengzhong Heavy Industrial Machines Co.Ltd. fell through General Motors will wind down the brand.
“Tengzhong was unable to complete the acquisition,” GM said today in a statement. The Chinese company failed to win government approval of the sale, a source familiar with the negotiations said.
All warranty [...] - Tags:
GM,
Hummer
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 [...] - Tags:
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 [...] - Tags:
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 [...] - Tags:
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 [...] - Tags:
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 [...] - Tags:
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 [...] - Tags:
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 [...] - Tags:
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 [...] - Tags:
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 [...] - Tags:
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 [...] - Tags:
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 [...] - Tags:
General Motors has decided to abandon one of its most revered nameplates, that of Pontiac, as part of its desperate measures to save itself from Chapter 11 bankruptcy in the United States.
At a press conference in Detroit a short while ago the Chief Executive Officer of General Motors, Fritz Henderson, outlined “an updated Viability Plan [...] - Tags:
General Motors seems certain to pull its Cadillac brand from more than half its current European markets following the collapse of its regional distributor.
It’s reported that the US carmaker will focus on markets such as Russia, Britain and Switzerland where the luxury brand has been able to compete against Germany’s BMW, Mercedes-Benz and Audi premium [...] - Tags:
They say a picture tells a thousand words. Here are just three powerful pictorial examples of the credit crunch closing in, in the United States.
San Rafael Chevrolet Saab Hummer Hyundai closed its doors recently, leaving dozens of employees out of work. Photo: Justin Sullivan/Getty Images
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It’s been talked about a lot in recent months but now it seems that General Motors headquarters in Detroit is seriously considering a Chapter 11 bankruptcy filing ahead of a deadline tomorrow for a plan to deal with the company’s current financial crisis.
A report on Reuters newsagency says that General Motors Corporation, nearing a Tuesday [...] - Tags:
Australia’s strongest men will go head-to-head in the name of the iconic Hummer brand for the national Oz Strongman title this weekend.
For the first time ever, Hummer will support the Oz Strongman Nationals – a contest which pits man against machine in the fight for the Australian title.
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With the world financial crisis going from bad to worse, General Motors is under immense pressure to raise cash. One of the ways it which the company believes it can achieve this is by off loading struggling brand Hummer.
GM has today sent a prospectus to potential buyers of the iconic brand. “Today we began [...] - Tags:
In an odd twist to a vehicle more commonly seen sporting chrome 22s or a set of Spinners, artist Matthew Harrison today unveiled his latest project simply entitled ‘Hummer’ at the fifth Zoo Art Fair in London.
The Hummer H3, complete with wooden wagon wheels, will be parked opposite the Royal Academy of Arts for the [...] - Tags:
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