GM considers selling Hummer. EDIT : Sold to a Chinese Company

Samir Taheer · 17th February 2009, 18:34

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

avishar · 17th February 2009, 18:41

Source REFILE-China's Sichuan Auto denies interest in GM's Hummer | Reuters

china's sichuan automobiles has denied any interest.

lalith_ka · 2nd June 2009, 20:13

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

StarVegabond · 2nd June 2009, 20:19

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.

sam003 · 2nd June 2009, 20:21

Quote:

Originally Posted by lalith_ka

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.

muralisk · 2nd June 2009, 20:34

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.

mustang89 · 2nd June 2009, 21:10

want gm negotiating with fiat for hummer sellout?

RJK · 2nd June 2009, 22:42

Sold to Sichuan Tengzhong, no longer a mystery.

gaddiwale · 2nd June 2009, 23:43

Quote:

Originally Posted by RJK

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.

lalith_ka · 3rd June 2009, 08:26

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

jkdas · 3rd June 2009, 09:03

Very funny. The company site is down !
And have a bad webmaster http://www.sctengzhong.com:8080/teng...weben/gytz.jsp

StarVegabond · 3rd June 2009, 09:38

Quote:

Originally Posted by jkdas

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.

sgiitk · 3rd June 2009, 09:42

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.

GTO · 3rd June 2009, 15:05

If an Indian company can buy Jaguar & Land Rover, why not Chinese ownership for the iconic Hummer? The East is emerging, better watch out!

scooby05 · 3rd June 2009, 15:39

Quote:

Originally Posted by GTO

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.

17th February 2009, 18:34	#61
Samir Taheer BHPian Join Date: Sep 2008 Location: London & Pune Posts: 459 Thanked: 278 Times	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
	() Thanks

17th February 2009, 18:41	#62
avishar Senior - BHPian Join Date: Oct 2008 Location: kolkata/bangalore,india Posts: 2,904 Thanked: 4,203 Times	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.
	() Thanks

2nd June 2009, 20:13	#63
lalith_ka BHPian Join Date: Dec 2005 Location: Bangalore/Singapore Posts: 39 Thanked: 0 Times	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
	() Thanks

2nd June 2009, 20:19	#64
StarVegabond Senior - BHPian Join Date: Sep 2008 Location: Bangalore Posts: 1,891 Thanked: 43 Times	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.
	() Thanks

2nd June 2009, 20:34	#66
muralisk BHPian Join Date: Nov 2006 Location: Hyderabad, Bangalore Posts: 711 Thanked: 13 Times View My Garage	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.
	() Thanks

2nd June 2009, 21:10	#67
mustang89 BHPian Join Date: Feb 2009 Location: new delhi Posts: 348 Thanked: 0 Times	want gm negotiating with fiat for hummer sellout?
	() Thanks

2nd June 2009, 22:42	#68
RJK Senior - BHPian Join Date: Feb 2004 Location: Bombay Posts: 1,150 Thanked: 737 Times	Sold to Sichuan Tengzhong, no longer a mystery.
	() Thanks

3rd June 2009, 08:26	#70
lalith_ka BHPian Join Date: Dec 2005 Location: Bangalore/Singapore Posts: 39 Thanked: 0 Times	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
	() Thanks

3rd June 2009, 09:03	#71
jkdas Senior - BHPian Join Date: Sep 2005 Location: Thiruvananthapu Posts: 9,687 Thanked: 1,492 Times View My Garage	Very funny. The company site is down ! And have a bad webmaster http://www.sctengzhong.com:8080/teng...weben/gytz.jsp
	() Thanks

3rd June 2009, 09:42	#73
sgiitk Senior - BHPian Join Date: Dec 2007 Location: Gurugram Posts: 7,971 Thanked: 4,796 Times	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.
	() Thanks

3rd June 2009, 15:05	#74
GTO Team-BHP Support Join Date: Feb 2004 Location: Bombay Posts: 71,506 Thanked: 309,485 Times View My Garage	If an Indian company can buy Jaguar & Land Rover, why not Chinese ownership for the iconic Hummer? The East is emerging, better watch out!
	() Thanks