Hummer Sold !!!!

[vetteSUT]

http://news.yahoo.com/s/ap/20090602/.../us_automakers

Hummer is now owned by CHINEEEESEEEE!!!! Crap crap crap. Well, I guess they pretty much own our country financially speaking as well.....


I was hoping someone in the States bought it...

[Pure_Justice]

GM deals Hummer to Chinese buyer
Bankrupt automaker won't disclose details of deal to sell truck line, but source identifies buyer as Sichuan Tengzhong.




NEW YORK (CNNMoney.com) -- General Motors Corp. has signed a deal to sell its Hummer truck unit to a Chinese industrial company, a person with knowledge of the deal said Tuesday.

The news comes a day after GM (GMGMQ) filed for bankruptcy protection in New York. The company did not identify the buyer nor name a price, saying only that the deal would close by the end of September.

But a source identified the buyer as Sichuan Tengzhong Heavy Industrial Machinery Company Ltd. in China.

As part of the deal, some GM plants will continue to build the Hummer brand for the new owner, at least for awhile. The company said its Shreveport, La., plant will keep building Hummers for the new owner until at least 2010.

"I'm confident that Hummer will thrive globally under its new ownership," said Troy Clarke, president of GM North America, in a press release. "And for GM, this sale continues to accelerate the reinvention of GM into a leaner, more focused, and more cost-competitive automaker."

GM also said that the deal should protect more than 3,000 jobs in manufacturing and engineering, and at dealerships "around the country."

The sale of the Hummer brand to a Chinese company will not impact the production of U.S. military vehicles. Military Humvees are produced by a different company, privately held AM General, based in South Bend, Ind.

AM General used to make Hummers, but they sold the brand to GM in 1999.

The Hummer and other large vehicles have been a drag on the U.S. auto industry since fuel prices spiked in 2008 and the recession deepened.

GM said it sold 5,013 Hummers worldwide in the first quarter, down 62% from the 13,050 that it sold in the same period the prior year.

Hummer isn't the only brand that GM is leaving behind. The automaker will also shed its Pontiac, Saturn and Saab brands and cut loose more than 2,000 of its 6,000 U.S. dealerships by next year.

That could result in more than 100,000 additional job losses if those dealerships are forced to close.

GM filed for bankruptcy hours after Chrysler's bankruptcy process cleared a hurdle when a federal judge approved its asset sale.

The GM bankruptcy was hailed by President Obama, who wants a complete overhaul of the U.S. auto industry, even though the Chapter 11 filing is expected to result in the loss of 20,000 jobs and the closure of a dozen facilities.

[DRTYFN]

Oh shit!!

[NewHummerGuy]

The only wording that makes this even remotely stomachable (this isnt a word i am sure) is Heavy Industrial Machinery Company.

[Cazador]

Frackin Chinese!

That's a real let down. Wonder what that's going to do for resale value?

I think I would have rather seen them close up shop for good rather than operate under the Chinese.

[BKLYNH2]

Good thing there's no "L" in Hummer...

[Bully13]

I'm not sure if the fact that a Chinese company now owning Hummer is really going to make a difference. However, I was caught a bit off-guard when I took my h2 in to service today and a 7 yearold took my keys and did the write up...

[Intercooled]

Its a bit confusing. Its sounds like it will be chinese owned but contracted out to GM? Is that what they are saying? Would that still be considred an American built machine by American people? Sounds like GM will poduce all the Hummer models as a sub contractor to the Chink company, remaing an American built auto??

[lfe136]

Sorry, I didn't know "Chink" was a cool word to say. Can I use it like "nigga," "cracker," "spic," or "gook"?

Oh and by the way, I bet you 50% of the things you own are not 100% AMERICA!!! Even the H2.

Originally Posted by Intercooled

Its a bit confusing. Its sounds like it will be chinese owned but contracted out to GM? Is that what they are saying? Would that still be considred an American built machine by American people? Sounds like GM will poduce all the Hummer models as a sub contractor to the Chink company, remaing an American built auto??

[IRA51]

MADE IN CHINA ,BY HUNG TOO LOW .

[DRTYFN]

Originally Posted by Bully13

I'm not sure if the fact that a Chinese company now owning Hummer is really going to make a difference. However, I was caught a bit off-guard when I took my h2 in to service today and a 7 yearold took my keys and did the write up...

[CONRAD II]

Originally Posted by Bully13

I'm not sure if the fact that a Chinese company now owning Hummer is really going to make a difference. However, I was caught a bit off-guard when I took my h2 in to service today and a 7 yearold took my keys and did the write up...

FYI that wasn't a seven yr. old, Chinese people are notoriously small people. Get used to it.........

[HummerMann]

I was hoping for AM General to buy the Hummer but, Tengzhong makes some of the best road paving equipment in the world. We have some of their paving equipment and they stand behind them and are overdesigned and built extremely well. I hope they can keep our Hummer dealers in business and let them prosper. THong is flush with cash and has a good reputation for customer satisfaction. They say they are committed to having the Hummer manufactured and engineered in the US and the future world HQ for Hummer in the US. What's happening? Budweiser is now Belgian owned and the Hummer will be Chinese owned soon..... who would have thought