Now I can afford to buy a HUMMER???

[mDumb]

General Motors is to sell its Hummer brand to China's Sichuan Tengzhong Heavy Industrial Machinery for an undisclosed amount.

It is part of GM's plan to reinvent itself by concentrating on fewer brands following Monday's bankruptcy filing.

GM says it hopes the deal will save about 3,000 jobs in the US. Hummer will remain based in the US.

Tengzhong specialises in making equipment for the road, construction and energy industries.

It is based in China's Sichuan province.

Hummers were originally built as military off-road vehicles by a company called AM General.

GM bought the Hummer brand in 1999. Its sales have suffered as the gas-guzzling performance and military image have become less popular.

When it began the sale process a year ago, GM had hoped to make more than $500m (£302m), but analysts say that it is likely to have made about $100m from the sale.

If you recall the current Governor of California, Arnold Schwarzenegger popularized the HUMMER. I think he paid close to $100K for the first HUMMER.

However, since, China is going to manufacture HUMMERs from here on, you probably could get a HUMMER for $40K (this is really cheap compare to $100K).

 

[AliFarooq]

Hummers aren't expensive as they used to be, u can get a decent 1 for around 50 to 60K

 

[wtf]

They seem to have only sold the Hummer brand and manufacturing. AMC will continue to make the HMMV for the US military.
Hummer H1 (which is basically a velvet glove over the Iron fist that is HMMV )will be discontinued from production.It is no longer factory made anyway. Hummer H2 is basically a Chevy Tahoe and Hummer H3 is a Chevy Canyon - maybe the Chinese company gets the license for those platforms too.

On the other hand, Hummer brand still has the cachet in many parts and it is a great toehold for getting into full car manufacturing for the Chinese company which does not have a car brand of its own. The truck platforms are pretty versatile and the engines are dead simple.

 

[Keysersoze]

Maybe you can afford the Hummer and it would look all nice and shiny on the driveway. Shame you won't be able to drive it anywhere without paying the same as you would for a 747.

You may think I am joking but I did know a guy who bought a Escalade and never drove it anywhere because the cost of fuel was too high. But the schmuck wanted to get into the rap lifestyle........

 

[jeypore]

My partner owns a Hummer, it looks very nice, but it drives like a crap! I agree with Keys, it just eat lots of gas. Useless car indeed.

 

[Cheetah786]

Its easy to buy an elephant very expensive to feed it.I take it chinese will be exporting this to Middle east and Africa as its very popular there.

 

[mDumb]

What will the Chinese automaker do with Hummer?

One source close to the situation says Sichuan Tengzhong will market the brand globally, as GM has been trying to do, and probably build Hummer vehicles in other plants around the globe.

On the other hand, Hummer brand still has the cachet in many parts and it is a great toehold for getting into full car manufacturing for the Chinese company which does not have a car brand of its own. The truck platforms are pretty versatile and the engines are dead simple.

There are several car companies in China here are some: Geely, Cherry, Dongfeng Motor (they make medium and heavy duty commercial vehicles), BYD.

Geely and Cheery are planning to export cars to the US. BYD is planning to export hybrid cars.

Am surprised that Dongfeng didn't acquire the HUMMER.

Personally, I would never get a HUMMER, as people have expressed its' a gas-guzzling car. But if you have money to burn why not? Life is too short not to enjoy.