Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[REPORT: Hummer getting plans in order for H4 and H5 models]]>http://www.autoblog.com/2009/11/17/report-hummer-getting-plans-in-order-for-h4-and-h5-models/http://www.autoblog.com/2009/11/17/report-hummer-getting-plans-in-order-for-h4-and-h5-models/http://www.autoblog.com/2009/11/17/report-hummer-getting-plans-in-order-for-h4-and-h5-models/#commentsFiled under: , , , , ,


Hummer HX concept - click above for high-res image gallery

As a brand, Hummer has been in limbo since General Motors announced it was selling the downtrodden marque to China's Sichuan Tengzhong Heavy Industrial Machinery Co. Ltd. Speculation remains that the sale could be completed on or around December 1, pending approval from GM and the Chinese government. For now, everything is on hold, though Tengzhong and new Hummer CEO Jim Taylor are apparently still working hard to plan Hummer's future.

First on the "Honey Do" list is to arrest the free-fall of Hummer sales. Right now, sales are down 64% on the year to about 8,500 units, but Hummer is looking for 25,000 sales in 2010. That will be a tough nut to crack, but Automotive News reports that the company optimistically plans to get things done in part with some aggressive marketing. Ultimately, however, new product will be needed to get dealerships buzzing with customers again. In the meantime, Hummer's 154 U.S. dealers need more inventory in the showrooms to help move metal. AN says that dealers only have 1,300 units in stock, compared to the 7,400 vehicles at the same time in 2008.

The last piece of the Hummer reclamation project is adding those new models. When Tengzhong gets the keys to the Hummer kingdom, it will also receive engineering plans for the H4, a new smaller model that is reportedly based on the HX Concept from the 2008 Detroit Auto Show. Taylor reportedly told AN that Hummer's Jeep Wrangler fighter could arrive within three years. Also possible is an even smaller Hummer H5, which would help the SUV automaker to meet future CAFE requirements. Taylor even goes as far as to say that the smaller H4 and H5 could one day replace the brand's heavier and thirstier H2 and H3 mainstays. The next big challenge for Hummer once the sale becomes final is to find a manufacturing partner to build these vehicles. GM will reportedly cease building Hummer models as early as the end of 2010.


Gallery: Detroit 2008: HUMMER HX Concept


[Source: Automotive News - subs req'd]

REPORT: Hummer getting plans in order for H4 and H5 models originally appeared on Autoblog on Tue, 17 Nov 2009 18:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>GMhummerhummer h4hummer h5hummer hxhummer saleHummerH4HummerH5HummerHxHummerSaleTue, 17 Nov 2009 18:29:00 EST<![CDATA[Recork the Champagne? China says Hummer paperwork not submitted yet]]>http://www.autoblog.com/2009/10/12/recork-the-champagne-china-says-hummer-paperwork-not-submitted/http://www.autoblog.com/2009/10/12/recork-the-champagne-china-says-hummer-paperwork-not-submitted/http://www.autoblog.com/2009/10/12/recork-the-champagne-china-says-hummer-paperwork-not-submitted/#commentsFiled under: , , , ,


2008 Hummer HX concept - Click above for high-res gallery

Last week, it was reported that General Motors had signed a definitive agreement to sell Hummer to Chinese machinery manufacturer Tengzhong. The Chinese company and its partner in the deal, Lumena Resources Corp., would pay $150 million and receive Hummer and its intellectual property, ownership of U.S. franchise agreements, and manufacturing, business, and component assistance during a four- or five-year transition period.

The questions being raised now concern what is happening on the other side of the Pacific. The Chinese Commerce Ministry reportedly hasn't received Tengzhong's application to officially bring Hummer home, which has led observers to wonder if there will be a holdup or reversal of the deal. According to a Hummer representative, however, Tengzhong had to finalize the deal with GM before it could present it for approval to the Chinese authorities:

The closing of the transaction is subject to customary closing conditions and regulatory approvals and/or review by agencies in China and the U.S. Tengzhong has started communicating with the relevant regulatory bodies and will continue to support the application process in accordance with the requirements. Formal engagement was only able to begin with the signing of the definitive agreement.
If all goes well, Tengzhong hopes to have the deal closed by early 2010.


Gallery: Detroit 2008: HUMMER HX in the design studio


[Source: Automotive News, sub. req'd.]

Recork the Champagne? China says Hummer paperwork not submitted yet originally appeared on Autoblog on Mon, 12 Oct 2009 16:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>acquisitionchinachinese governmentChineseGovernmentgeneral motorsGeneralMotorsgmgovernmenthummerhummer salehummer sale chinaHummerSaleHummerSaleChinasuvtengzhongtengzhong hummerTengzhongHummerMon, 12 Oct 2009 16:29:00 EST<![CDATA[REPORT: GM close to offloading Hummer for as little as $150 million]]>http://www.autoblog.com/2009/10/09/report-gm-close-to-offloading-hummer-for-as-little-as-150-mill/http://www.autoblog.com/2009/10/09/report-gm-close-to-offloading-hummer-for-as-little-as-150-mill/http://www.autoblog.com/2009/10/09/report-gm-close-to-offloading-hummer-for-as-little-as-150-mill/#commentsFiled under: , , ,

Hummer H3T - click above for high-res image gallery

Not so many years ago, Hummer appeared to be one of General Motors' most potentially lucrative brands. Now, the fallen brand looks poised to fall into the hands of the Chinese very soon. Bloomberg is reporting that a deal to sell Hummer could be finalized in the coming days as Sichuan Tengzhong Heavy Industrial Machinery Co. hammers out a purchase price. During its bankruptcy proceedings, GM estimated the Hummer brand to be worth $500 million, but last week's collapse of the Saturn deal with Roger Penske appears to have made the Detroit automaker ready to accept whatever it can get. The final tab paid by Sichuan Tengzhong could be as low as $150 million.

The Chinese government has thus far been reluctant to approve Sichuan Tengzhong's move for Hummer, in part because of the brand's image as a gas guzzler. The hope is that once a purchase agreement is complete, the regulators will allow it to move forward. For its part, GM likely just wants the deal done and some extra cash in its coffers so it can move on with its streamlining efforts plans.


Gallery: Review: 2009 HUMMER H3T Alpha


[Source: Bloomberg]

REPORT: GM close to offloading Hummer for as little as $150 million originally appeared on Autoblog on Fri, 09 Oct 2009 10:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>General MotorsGeneralMotorsGMhummerhummer salehummer sale chinaHummerSaleHummerSaleChinaSichuan TengzhongSichuan Tengzhong Heavy Industrial MachinerySichuan Tengzhong Heavy Industrial Machinery Cosichuan tengzhong hummerSichuanTengzhongSichuanTengzhongHeavyIndustrialMachinerySichuanTengzhongHeavyIndustrialMachineryCoSichuanTengzhongHummerSTHIMFri, 09 Oct 2009 10:30:00 EST<![CDATA[HUMMER hanging on: Tengzhong in talks with Chinese government to clear sale]]>http://www.autoblog.com/2009/07/05/hummer-hanging-on-tengzhong-in-talks-with-chinese-government-to/http://www.autoblog.com/2009/07/05/hummer-hanging-on-tengzhong-in-talks-with-chinese-government-to/http://www.autoblog.com/2009/07/05/hummer-hanging-on-tengzhong-in-talks-with-chinese-government-to/#commentsFiled under: , ,



Chinese National Radio recently reported that Tengzhong wouldn't be allowed to purchase Hummer due to environmental concerns. The company released a statement after that news broke saying that while there was no "definitive agreement," the CNR report wasn't based on facts from the government regulatory body in question, and Tengzhong is still working on the deal.

Last week, in a report titled "Tengzhong may get green light from the regulators for its acquisition of Hummer," CNR's take on where things appears to back up Tengzhong's view that the game is not yet played. The company's discussions with the National Development and Reform Commission (NDRC) and the Ministry of Commerce -- it needs approval from both parties -- have begun, and three options for concluding a deal were proposed.

If Tengzhong can convince the authorities of its expertise and business blan, and gets approval from both parties, it wants to set Hummer up in Sichuan province. If there is resistance to setting Hummer up directly, Tengzhong could try to base the company in one of China's ten bonded areas -- harbor points where the vehicles aren't officially "in" the country until taxes and fees are paid -- but this could impact the company's ability to sell Hummers in China. Or, the company could simply become a foreign investor in Hummer.

It isn't clear whether those options are Tengzhong's take on the purchase, or if that was just more speculation from CNR. Hummer had no comment on the matter.

[Source: Hummer]

HUMMER hanging on: Tengzhong in talks with Chinese government to clear sale originally appeared on Autoblog on Sun, 05 Jul 2009 18:08:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>acquisitionchinahummerhummer saleHummerSalenational development and reform commissionNationalDevelopmentAndReformCommissionndrcsuvtengzhongtengzhong hummerTengzhongHummerSun, 05 Jul 2009 18:08:00 EST<![CDATA[Hummer buyer to start talks with Chinese gov't to win sale?]]>http://www.autoblog.com/2009/06/29/report-hummer-buyer-to-start-talks-with-chinese-govt-to-win-sa/http://www.autoblog.com/2009/06/29/report-hummer-buyer-to-start-talks-with-chinese-govt-to-win-sa/http://www.autoblog.com/2009/06/29/report-hummer-buyer-to-start-talks-with-chinese-govt-to-win-sa/#commentsFiled under: , , , , ,



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]

Hummer buyer to start talks with Chinese gov't to win sale? originally appeared on Autoblog on Mon, 29 Jun 2009 10:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>hummerhummer salehummer sale chinaHummerSaleHummerSaleChinareportSichuan Tengzhong Heavy Industrial MachinerySichuanTengzhongHeavyIndustrialMachinerytengzhongtengzhong hummerTengzhongHummerMon, 29 Jun 2009 10:58:00 EST<![CDATA[REPORT: China to block HUMMER sale to Tengzhong]]>http://www.autoblog.com/2009/06/26/report-china-to-block-hummer-sale-to-tengzhong/http://www.autoblog.com/2009/06/26/report-china-to-block-hummer-sale-to-tengzhong/http://www.autoblog.com/2009/06/26/report-china-to-block-hummer-sale-to-tengzhong/#commentsFiled under: , , , ,


2008 Hummer H2 - Click above for high-res gallery

General Motors' pending deal to offload its unwanted HUMMER brand may have hit a major snag. Although no official word has come from the Ministry of Commerce or the National Development and Reform Commission, state-run radio organizations are reporting that the Chinese government will indeed block the sale of HUMMER from GM to Sichuan Tengzhong Heavy Industrial Machinery Co. It's impossible to know exactly how this whole mess will play out, but these reports clearly jive with the general sentiments we've been hearing since the deal was first announced.

According to Chinese radio reports (via the BBC), there are two main objections to the HUMMER deal. First, the brand's environmental credentials don't match up with the direction the Chinese government wants its automakers to head. Second, there are questions as to whether Tengzhong has the expertise to properly manage a large automaker as it's business dealings so far have all been in the construction equipment segment.

Not so fast, says Tengzhong. In a newly-released statement regarding these latest reports, the company had this to say:
Some people may have views and speculation, but the Chinese government has a process that we respect... The view expressed on China National Radio's website did not quote or source anyone at NDRC. We do not yet have a definitive agreement, but are developing our proposals with GM and Hummer and we will continue to engage with the appropriate authorities in an appropriate manner.
At this point, it seems equally as possible that a decision could either come down in short order or come only after a long series of protracted negotiations. Stay tuned. Thanks for the tip, Dave S!


Gallery: 2008 HUMMER H2


[Source: BBC]

REPORT: China to block HUMMER sale to Tengzhong originally appeared on Autoblog on Fri, 26 Jun 2009 14:57:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>chinachinese nrdcChineseNrdchummerhummer salehummer sale blockedhummer sale chinaHummerSaleHummerSaleBlockedHummerSaleChinanational development and reform commissionNationalDevelopmentAndReformCommissionnrdcsichuan tengzhongsichuan tengzhong heavy industrial machinerysichuan tengzhong heavy industrial machinery cosichuan tengzhong hummerSichuanTengzhongSichuanTengzhongHeavyIndustrialMachinerySichuanTengzhongHeavyIndustrialMachineryCoSichuanTengzhongHummertengzhongtengzhong hummerTengzhongHummerFri, 26 Jun 2009 14:57:00 EST<![CDATA[Critics from China berate proposed HUMMER sale, rekindled automaker could be based in Nashville]]>http://www.autoblog.com/2009/06/25/critics-from-china-berate-proposed-hummer-sale-rekindled-automa/http://www.autoblog.com/2009/06/25/critics-from-china-berate-proposed-hummer-sale-rekindled-automa/http://www.autoblog.com/2009/06/25/critics-from-china-berate-proposed-hummer-sale-rekindled-automa/#commentsFiled under: , , ,


2008 Hummer H2 SUT - Click above for high-res gallery

As Chinese media outlets continue to voice derision over GM's agreement to sell its unwanted HUMMER division to Sichuan Tengzhong Heavy Industrial Machinery Co., there are real questions as to whether or not the Chinese government will even approve of the purchase.

State-run media outlet Xinhua News Agency has suggested that Tengzhong's interest in HUMMER may be little more than a publicity stunt, saying, "It couldn't achieve this result (of raising its profile) even if it spent $100 million on advertising." Commenting on Tengzhong's deal to purchase HUMMER, China's Minister of Commerce Chen Deming said:
We hope Chinese companies learn more about international market rules and development trends in their industries and make prudent investments.
While none of that sounds particularly promising, it doesn't necessarily mean the deal won't be approved, and HUMMER CEO Jim Taylor is reportedly moving forward with the automaker's future plans as it looks for a new location outside GM's corporate headquarters in the Renaissance Center to call home. According to the Nashville Business Journal, HUMMER could stay in the Detroit area or possibly join Nissan by taking root in Tennessee.


Gallery: 2008 HUMMER H2


[Sources: Autocar, Nashville Business Journal]

Critics from China berate proposed HUMMER sale, rekindled automaker could be based in Nashville originally appeared on Autoblog on Thu, 25 Jun 2009 10:26:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>hummerhummer purchasehummer salehummer sale chinaHummerPurchaseHummerSaleHummerSaleChinasichuan tengzhongsichuan tengzhong heavy industrial machinerysichuan tengzhong heavy industrial machinery cosichuan tengzhong hummerSichuanTengzhongSichuanTengzhongHeavyIndustrialMachinerySichuanTengzhongHeavyIndustrialMachineryCoSichuanTengzhongHummertennesseetennessee hummerTennesseeHummerThu, 25 Jun 2009 10:26:00 EST<![CDATA[Is selling Hummer the morally correct thing to do? [w/POLL]]]>http://www.autoblog.com/2009/06/09/is-selling-hummer-the-morally-correct-thing-to-do-w-poll/http://www.autoblog.com/2009/06/09/is-selling-hummer-the-morally-correct-thing-to-do-w-poll/http://www.autoblog.com/2009/06/09/is-selling-hummer-the-morally-correct-thing-to-do-w-poll/#commentsFiled under: , , , , ,



General Motors' potential sale of Hummer to Tengzhong is probably good news for those interested in seeing the company return to independent and profitable status as quickly as possible. The move should see enable GM to shed the negative political and social association of the star-crossed SUV brand and get some money in return. There is actually a better option, says The New York Times' Ethicist.

The Ethicist frames the issue as figuring out which is more important: GM's employees and shareholders (i.e., the American public) or the environment. Hummer vehicles are too heavy and use too much gas and, the Ethicist says, hazardous products should be regulated by the government. Now that the government basically owns Hummer, there is "an opportunity to reconsider transportation policy, including from a moral perspective. Such an analysis urges not merely discontinuing the Hummer but also significantly reducing our reliance on the private car." Here's more:
Shutting down Hummer could even turn out to be cost-effective. The sale price, perhaps as much as $500 million, may well be dwarfed by the long-term costs - in environmental damage, in public health - to us taxpayers, G.M.'s majority owners, of keeping those three tons of steel on the road. [...] The restructuring of G.M. gives us a chance to avert the fate of being laid low by our own automobiles, the grand manifestation of America's industrial might. The first thing we do, let's kill all the Hummers.
So, what's the right thing to do here?

View Poll


[Source: The Ethicist]

Is selling Hummer the morally correct thing to do? [w/POLL] originally appeared on Autoblog on Tue, 09 Jun 2009 14:57:00 EST. Please see our terms for use of feeds.

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According to a report from Bloomberg, state-owned Chinese news agency Shanghai Securities News is predicting that it is unlikely the Chinese government will approve the purchase of Hummer from General Motors by Sichuan Tengzhong Heavy Industrial Machinery Co. Why? Apparently, China actually wants to reduce the number of automakers operating within its borders and favors keeping manufacturers with an eye towards fuel efficiency. Of all the labels people have put on the Hummer brand, fuel efficient hasn't exactly been one of them. According to Tim Payne, a spokesman for Tengzhong:
"Some people may have views and speculation but the Chinese government has a process that we respect. We have only just signed an MOU but as we develop our proposals with GM and Hummer we will continue to work with the appropriate authorities."
In other words, it's too early to draw conclusions about whether or not China will approve of the purchase of Hummer. However, it does seem unlikely that Tengzhong would enter into the deal with the belief that the Chinese government would squash it, no?

[Source: Bloomberg]

Chinese government unlikely to approve Hummer purchase deal? originally appeared on Autoblog on Fri, 05 Jun 2009 15:28:00 EST. Please see our terms for use of feeds.

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General Motors has been mandated by the U.S. government to shed brands as part of its restructuring process. Recent reports indicate that the General is hard at work, as three buyers are reportedly seeking to purchase Hummer, while a Chinese company may have interest in Buick.

The Hummer fire-sale has been ongoing, but a brutal economy and non-existent credit markets have made a sale even less probable. Reuters is reporting that GM has than three bidders for the Sierra Club's symbol of excess, with one potential buyer from the U.S. and two others overseas. The price of Hummer is reportedly somewhere between $100-$200 million in cash, plus assurances that the buyer will pump money into engineering, sales and marketing. Whichever firm takes the reigns would also take over responsibility for Hummer's 125 dealers. GM would in turn continue to build the H3 at its Shreveport plant, and turn over future plans for the brand.

A separate report from China Business News states that GM's partner in China, Shanghai Automotive Industry Corp. (SAIC), is looking to purchase Buick outright. The report values the Buick brand at $1 billion, mainly due to its popularity in the Land of the Great Wall. We're more skeptical about this report, however, because it's short on details and just quotes "sources." GM has also never said it would consider selling Buick. The brand is also one of the most popular marques in China, making a sale, unless the price was right, seem like a bad idea.

[Sources: Reuters, China Knowledge]

REPORT: GM has three possible offers for Hummer between $100-$200M; SAIC may buy Buick originally appeared on Autoblog on Thu, 09 Apr 2009 10:39:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buickbuick saleBuickSalechinahummerhummer saleHummerSaleThu, 09 Apr 2009 10:39:00 EST<![CDATA[REPORT: Hummer's fate to be decided <strike>by Tuesday</strike> in a few weeks]]>http://www.autoblog.com/2009/03/30/report-hummers-fate-to-be-decided-by-tuesday/http://www.autoblog.com/2009/03/30/report-hummers-fate-to-be-decided-by-tuesday/http://www.autoblog.com/2009/03/30/report-hummers-fate-to-be-decided-by-tuesday/#commentsFiled under: , , , , ,



General Motors has been trying to unload its Hummer division for nearly a year now. Despite assertions late last year indicating that it hoped to have the troubled brand off its books for good before 2009 rolled around, we are now nearing the end of the first quarter of '09 and Hummer is still wholly owned by GM.

According to a new report by the Associated Press, tomorrow is the day that we'll finally find out what the future holds for Hummer and its 160 or so dealers across the United States. We've heard all along that there are multiple parties interested in the brand, and that's apparently still the case.

A GM spokesperson has said that companies from "all different parts of the world" are in the mix to purchase Hummer and the automaker is "cautiously optimistic" that a sale will be made. If a decision to sell Hummer isn't made by tomorrow, it sounds like the brand will likely be abandoned to die a quiet death. Thanks for the tip, Avinash!

UPDATE: Automotive News is reporting that the decision has been postponed "a few weeks" to assess bidders for the brand and possibly complete a sale.

[Source: The Associated Press (via Google)]

REPORT: Hummer's fate to be decided by Tuesday in a few weeks originally appeared on Autoblog on Mon, 30 Mar 2009 17:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>General MotorsGeneralMotorsGMhummerhummer brandhummer saleHummerBrandHummerSaleMon, 30 Mar 2009 17:29:00 EST<![CDATA[Changfeng, AM General bidding on Hummer]]>http://www.autoblog.com/2008/12/15/changfeng-am-general-bidding-on-hummer/http://www.autoblog.com/2008/12/15/changfeng-am-general-bidding-on-hummer/http://www.autoblog.com/2008/12/15/changfeng-am-general-bidding-on-hummer/#commentsFiled under: , ,



Rejoice GM, somebody wants HUMMER! In fact, AM General, the company that created the original mil-spec HMMWV for American troops back in 1983 is rumored to be in the mix of bidders, joining forces with China's Hunan Changfeng Motor Co. Despite earlier reports, Changfeng has remained interested in the brand since GM first put HUMMER up on the auction block, but had desired a bidding partner. It appears that it found one shortly after touring the automaker's facilities a few months back.

This is an intriguing move, especially since it was AM General that first launched the HUMMER marque in America before selling marketing rights for the brand to General Motors in 1999. Despite the presence of a Chinese partner, rumors indicate that HUMMER would remain an American brand that's marketed predominately towards the United States. It's an interesting footnote, though possibly completely unrelated, that news of HUMMER's impending sale rise and fall in unison with global fuel prices. In any case, this announcement seems to reaffirm GM's stated goal of selling the off-road brand by 2009.

[Source: Gasgoo via Hummer Guy]

Changfeng, AM General bidding on Hummer originally appeared on Autoblog on Mon, 15 Dec 2008 14:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>am generalam general hmmwvam general humveeAmGeneralAmGeneralHmmwvAmGeneralHumveechangfenghmmwvhummerhummer biddershummer saleHummerBiddersHummerSalehunan changfen motorsHunanChangfenMotorsMon, 15 Dec 2008 14:32:00 EST<![CDATA[Wagoner: HUMMER is the only brand for sale]]>http://www.autoblog.com/2008/11/14/wagoner-hummer-is-the-only-brand-for-sale/http://www.autoblog.com/2008/11/14/wagoner-hummer-is-the-only-brand-for-sale/http://www.autoblog.com/2008/11/14/wagoner-hummer-is-the-only-brand-for-sale/#commentsFiled under: , ,



General Motors CEO Rick Wagoner has confirmed that HUMMER is the only brand in the automaker's portfolio that's up for sale. Many believed that Saab's days were also numbered and the Swedish brand would be getting out from under the corporate umbrella as soon as a buyer could be found. Not so says the Ricker. Other brands thought to have been out on the lawn behind a For Sale sign included Opel-Vauxhall, GM of China and Holden. While HUMMER may be the only GM brand for sale, the automaker is certainly keen to sell other assets weighing it down. Wagoner didn't elaborate on which assets those might be, but his company's remaining 49% stock in GMAC doesn't seem to be doing it any good.

[Source: Autocar, Photo by Bill Pugliano/Getty]

Wagoner: HUMMER is the only brand for sale originally appeared on Autoblog on Fri, 14 Nov 2008 11:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>gmhummerhummer saleHummerSalesaabsaab saleSaabSaleFri, 14 Nov 2008 11:59:00 EST<![CDATA[GM sends HUMMER sales prospectus to suitors]]>http://www.autoblog.com/2008/10/17/gm-sends-hummer-sales-prospectus-to-suitors/http://www.autoblog.com/2008/10/17/gm-sends-hummer-sales-prospectus-to-suitors/http://www.autoblog.com/2008/10/17/gm-sends-hummer-sales-prospectus-to-suitors/#commentsFiled under: , , ,



General Motors is moving full steam ahead on its hopeful sale of HUMMER, moving to make a decision on the SUV marque "as quickly as practical." Shortly after appointing Jim Taylor to the head of the brand, the automaker has contacted interested parties with a full sales prospectus. By now, you're surely aware that sales of the gargantuan 'utes are very slow, posting declines of over 50-percent so far this year. No surprise then that the General would be anxious to get the former military-spec brand off its books. Though GM claims it is not necessarily committed to selling the marque, we're not so sure they have many other options. An entire revamp of the HUMMER line would use up precious resources that would surely be better spent on more fuel efficient, forward thinking products like the Chevy Volt, Cruze and Orlando. In any case, look for an announcement regarding the brand's future in short order. Thanks for the tip, Mike!

[Source: The Wall Street Journal]

GM sends HUMMER sales prospectus to suitors originally appeared on Autoblog on Fri, 17 Oct 2008 18:02:00 EST. Please see our terms for use of feeds.

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HUMMER's up for sale, and General Motors is looking around the house for other items to include in its yard sale. During a presentation to Deutsche Bank, GM's powertrain plant in Strasbourg was added to the For Sale listings by Treasurer walter Borst. Together, the HUMMER brand and the French transmission plant could bring up to $4 billion. GM's likely not done raiding the attic, either. A list of other salable assets is currently being drawn up as The General continues attempts at righting its ship.

A selloff of HUMMER probably doesn't mean much for the brand's lineup in the immediate future. A new owner would be purchasing the name moreso than the GM truck-based H2 and H3. New models based off some other architecture will take a considerable amount of time to work up; it'd likely mirror what's going on with Land Rover and Jaguar under Tata's ownership.

[Source: Inside Line]

Combo #V8: HUMMER with a side of French factory originally appeared on Autoblog on Fri, 26 Sep 2008 10:29:00 EST. Please see our terms for use of feeds.

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HUMMER, a brand that has seen its sales drop by a shocking 40% so far this year, is apparently burning an SUV-sized hole in General Motors' pocket. Main money-man at the biggest American automaker, Fritz Henderson, says that GM wold like to rid itself of the brand as quickly as possible, saying that its sale is being approached "on an urgent basis." The time frame given was by the end of this year or early 2009 for a completed transaction. So, who would want the brand that represents wretched American excess? We have no idea, but it seems that somebody does as Henderson reiterated that the General's been approached by multiple suitors. Interestingly, these comments were made in India, a country that had previously been rumored to have two separate bidders for the HUMMER brand. Considering the growing sentiment for small cars in the U.S., it wouldn't be surprising to see HUMMER sold to a company that does most of its business outside America.

[Source: Reuters via Hummer Guy, photo by Grant McDonald | CC2.0]

GM: HUMMER sale "urgent", done by early '09 originally appeared on Autoblog on Wed, 03 Sep 2008 12:59:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fritz hendersonFritzHendersonhummerhummer saleHummerSaleWed, 03 Sep 2008 12:59:00 EST<![CDATA[Two Arab investors interested in HUMMER]]>http://www.autoblog.com/2008/08/26/two-arab-investors-interested-in-hummer/http://www.autoblog.com/2008/08/26/two-arab-investors-interested-in-hummer/http://www.autoblog.com/2008/08/26/two-arab-investors-interested-in-hummer/#commentsFiled under: , , ,


The HUMMER brand isn't exactly sterling here in the States due to high fuel prices and its standing as the poster vehicle for green groups trying to save the environment from the evils of CO2 emissions. That's probably the biggest reason GM is looking to offload the brand, and while it doesn't seem likely that anyone would want the marque, there are interested parties. According to GM's Middle East Managing Director, Terry Johnsson, one group is a pair of Arab investors. The Middle East has been a player in the automotive landscape over the past few years, as the region is rife with cash and oil and has growing transportation needs. Arab investors were 50% of the Aston Martin sale in 2007, and Abu Dhabi's investment group purchased 5% of Ferrari in 2005.

Many of the early suitors for the HUMMER brand have since decided to bow out. Whether the final buyer is Tata Motors, investors from the Gulf, or some yet unknown party, the General will want to move quickly before the brand's value falls any further. Thanks for the tip, Epyx!

[Source: Reuters]

Two Arab investors interested in HUMMER originally appeared on Autoblog on Tue, 26 Aug 2008 13:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>arabic hummer investorsArabicHummerInvestorsGMhummerhummer saleHummerSalesuvTue, 26 Aug 2008 13:29:00 EST<![CDATA[Mahindra not interested in HUMMER]]>http://www.autoblog.com/2008/08/18/mahindra-not-interested-in-hummer/http://www.autoblog.com/2008/08/18/mahindra-not-interested-in-hummer/http://www.autoblog.com/2008/08/18/mahindra-not-interested-in-hummer/#commentsFiled under: , , ,



Despite assurances from top GM brass, every bidder for the troubled HUMMER brand appears to be removing itself from the rumormill. Considered one of the strongest suitors interested in the off-road marque, India's Mahindra is the latest brand to pull out of consideration. According to Vice Chairman Anand Mahindra, "There has been a lot of speculation. I want to say categorically we are not pursuing HUMMER." That sounds pretty definitive to us, leaving Tata Motors as the only company from India still reportedly interested. Russian billionaire Oleg Deripaska has pulled his name out of the mix, as has China's Hunan Changfeng Motor Co. Until an official announcement is made, all of this is just speculation, but we have to wonder just how valuable the HUMMER brand could possibly be now that its sales have plummeted so far and so fast.

[Source: Automotive News - sub. req'd]

Mahindra not interested in HUMMER originally appeared on Autoblog on Mon, 18 Aug 2008 13:58:00 EST. Please see our terms for use of feeds.

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The continual grousing over fuel prices has earned the HUMMER brand a place on consumers' fecal roster. There's nothing wrong with what HUMMER has on offer, other than the fact that large, off-road capable trucks make terrible commuter cars, and the idiots misusing their H2s for tasks better suited to Cobalts are finally wising up. This re-thinking of emetic consumption has sent HUMMER sales down the sewer, and with no end in sight, GM is seriously considering selling the brand to stanch the cash bleed.

China is a huge emerging market for General Motors - Buick is big there, for example. As such, GM's Fritz Henderson has indicated its willingness to hold discussions with any Chinese company interested in buying the division. It's not like HUMMER is a brand with lots of history, anyway. Only the H1 had any legitimate claim to military lineage, and that vehicle hasn't been available for a while. The survival of the brand in the U.S. market may hinge on competing more directly with the Jeep Wrangler, regardless of ownership. The same way as Jaguar and Land Rover are a handy entre into serious carmaking for Tata, HUMMER could be a way for Chinese automakers to crack the U.S. market.

[Source: Inside Line]

GM seeking Chinese suitor for HUMMER? originally appeared on Autoblog on Mon, 16 Jun 2008 09:28:00 EST. Please see our terms for use of feeds.

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