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Old 17th February 2009, 18:34   #61
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Default Hummer Under the Hammer!!

Chinese car manufacturer Sichuan Auto, is putting in a serious bid to buy out Hummer form GM. The chinese guys have supposedly put in a $500m bid to buy the company

Full Story here - Autocar - Hummer under the hammer
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Old 17th February 2009, 18:41   #62
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Source REFILE-China's Sichuan Auto denies interest in GM's Hummer | Reuters

china's sichuan automobiles has denied any interest.

Last edited by Rehaan : 17th February 2009 at 19:07.
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Old 2nd June 2009, 20:13   #63
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Default GM sells Hummer to mystery buyer

Bankrupt automaker won't disclose details of deal to sell truck line. Any guesses? Hope it is an Indian car maker.

Source:
GM says it finds a buyer for Hummer, but won't say who - Jun. 2, 2009
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Old 2nd June 2009, 20:19   #64
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This might be because the buyer is still doing his due deligence or the contract agreement is yet to be signed. this is a regular practice during the M&A or business/company sale situation as (non) disclosure norms prevent just one party to make announcements of critical info.
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Old 2nd June 2009, 20:21   #65
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Quote:
Originally Posted by lalith_ka View Post
Any guesses? Hope it is an Indian car maker.
Don't think so, as some of the news says its not Auto maker, so India car maker rules out.
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Old 2nd June 2009, 20:34   #66
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No doubt, it is an iconic brand and it definitely has immense value and following.

Having said that, I don't see any value in any of Indian Auto makers to buy this brand as it is one hell of a gas guzzler and we Indian are after fuel efficiency.
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Old 2nd June 2009, 21:10   #67
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want gm negotiating with fiat for hummer sellout?
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Old 2nd June 2009, 22:42   #68
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Sold to Sichuan Tengzhong, no longer a mystery.
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Old 2nd June 2009, 23:43   #69
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Originally Posted by RJK View Post
Sold to Sichuan Tengzhong, no longer a mystery.
True. News confirmed (CNN Money.com)

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, a Heavy Industrial Machinery Company Ltd. in China.
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Old 3rd June 2009, 08:26   #70
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Yup, its Sichuan Tengzhong. ST is a privately owned company known for making a wide range of road equipment, such as bridge piers, highway construction and maintenance machinery. Sichuan Tengzhong has been moving more into tow trucks and oil tankers. Perfect synergy with Hummer - fits very well with all their other products!

Well!!! good for hummer. If you are stranded in the highway you can reach out for tow trucks, oil tankers and host of other machineries
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Old 3rd June 2009, 09:03   #71
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Very funny. The company site is down !
And have a bad webmaster http://www.sctengzhong.com:8080/teng...weben/gytz.jsp
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Old 3rd June 2009, 09:38   #72
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Quote:
Originally Posted by jkdas View Post
Very funny. The company site is down !
And have a bad webmaster http://www.sctengzhong.com:8080/teng...weben/gytz.jsp

On a lighter side..

it may be due to the wieght of the Hummer business.
despite legendary brand name, the business is suffering
from heavy losses, the new buyer seems to have crashed as soon as he signs on the dotted line.

Technical reason could be so many people might be trying to access the website which could not handle the traffic, crashed.
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Old 3rd June 2009, 09:42   #73
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Obviously with a Chinese buyer of a brand which is heavily into US Army supplies they will like to keep it under wraps for as long as possible.
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Old 3rd June 2009, 15:05   #74
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If an Indian company can buy Jaguar & Land Rover, why not Chinese ownership for the iconic Hummer? The East is emerging, better watch out!
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Old 3rd June 2009, 15:39   #75
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Quote:
Originally Posted by GTO View Post
If an Indian company can buy Jaguar & Land Rover, why not Chinese ownership for the iconic Hummer? The East is emerging, better watch out!
And, We can make the same product quality, at a much lower price.
So, lets prepare for an affordable Hummer, and maybe a more practical one, since we in the East are open to shift from preset mind frames.
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