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Hummer buyer to start talks with Chinese gov't to win sale?
China's Sichuan Tengzhong Heavy Industrial Machinery, the company that recently surfaced as the top bidder for Hummer, is about to start talks with Chinese regulators to secure the deal. While General Motors has a tentative agreement with Tengzhong, the two companies have yet to receive the state's blessing, which is necessary for the sale to go through.
Tengzhong, GM and Hummer have been working on a proposal to present to the National Development and Reform Commission, despite speculation that the deal will be blocked by those Chinese officials. Tengzhong reportedly remains optimistic, saying they haven't heard anything from the authorities and don't expect to until their proposal is actually submitted.
Speculation that the deal was in jeopardy began when a China National Radio station reported that government regulators would block the deal based on environmental concerns about Hummer vehicles and the fact that Tengzhong doesn't have much experience as an automaker. Tengzhong is better known as a manufacturer of special-use vehicles, structural components for highways and bridges, construction machinery and energy equipment, so some have suggested this is little more than a publicity stunt for the company, but it certainly sounds like they are serious about the deal now.
[Sources: Reuters, Wall Street Journal]
Reader Comments (Page 1 of 1)
wako 11:04AM (6/29/2009)
didnt the chinese already make their own copy-cat version of the hummer?
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RJ 3:46PM (6/29/2009)
Haven't dumbass comments like this already been said enough times?
Avinash machado 11:28AM (6/29/2009)
Just ten years ago this was such a hot brand. Hummers were the in thing. What a sad downfall. Even the Chinese government do not seem to like it.
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Redeemed 11:52AM (6/29/2009)
You can thank the Eco-Fascists and their campagin of hate to which HUMMER was a primary target.
kevjohn 12:05PM (6/29/2009)
It's called a fad, and they all die sooner or later. This one lasted longer than parachute pants, but not as long as Britney Spears' career.
akboss302 12:36PM (6/29/2009)
Redeemed, what are you like the closet corporate mascot or something? If you love them so much then why didn't you buy a few thousand them when their sales dropped by 75%. The brand didn't fail because of people who care about the planet, it failed because the potential buyers weren't there. You can blame it on your fault-free Capitalism, no demand, no product.
Redeemed 12:43PM (6/29/2009)
"The brand didn't fail because of people who care about the planet, it failed because the potential buyers weren't there."
It failed because it was demonized and became a target of hate. You and your left wing buddies in the media made it the poster child of hate along with the oil industry.
And the Prius succeeded because of the "look at how much I care about the environment" statement it made while in reality being a terrible car in all other aspects.
akboss302 1:16PM (6/29/2009)
What exactly do you mean by "demonized"? People aren't forced to hate something, it comes naturally when your product blows goats. Most of the media coverage simply reveals the stats, and you can't fault people for being turned off by a 10mpg, 7000lb, 7ft wide SUV that can't tow a decent trailer or boat. For less money someone could buy a worthwhile crew-cab diesel pickup, something that's actually useful. The Hummer doesn't do anything except enlarge one's narcissism, and I think its that irresponsibility that made it such a candidate for disaster. They have alienated a majority of the population, and left only with a handful of enthusiasts, it bombed.
But fear not, for you can buy the Knight XV from 'Conquest Vehicles' - for all your families bulletproofed, bombproofed, apocalypse-proofed SUV commuting needs. http://conquestvehicles.com/index.html
paul34 3:03PM (6/29/2009)
It was indeed a fad, plain and simple. I'm probably the farthest thing from a corporation-hater and a tree hugger, but I'll tell you that the HUMMER just flat out sucked. Have some of you guys even, you know, DRIVEN one? Terrible to drive, looks like you're looking out of a bunker, unwieldy proportions, cheesy interior and exterior, etc. What do you expect would happen to such a thing?
Art 11:31AM (6/29/2009)
in for their inadept marketing guys [at the chinese corporation] thinking americans will only buy large SUVs and making a H1 sized monstrosity
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Level 11:51AM (6/29/2009)
Funny how the Chinese want to own a piece of Americana lol, GM are sell outs...
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extinctdoughnut 12:12PM (6/29/2009)
These talks are just to ask how much to make the check out for.
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PJ 1:09PM (6/29/2009)
Funny, Redeemed, that whenever Prius sales take a dip, it's the free market, that ultimate arbiter, telling us what it wants--and it *doesn't* want hybrids.
But when HUMMER fails, it's a vast left-wing media conspiracy manipulating those po widdle impressionable consumers.
HUMMER failed because it was designed from day one as a fashion statement (for 99% of its target buyers), and its fifteen minutes were up about three years ago. It was basically the man's PT Cruiser or New Beetle--only far less tolerable as daily transportation once the novelty wore off, which is why it's on the auction block.
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Terry Joe 7:45AM (6/30/2009)
The Hummer was designed to be a military vehicle, not a fuel efficient vehicle. Its a shame the Chinese will be building these vehicles now for our military.
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