GM deals Hummer to Chinese buyer

[zenMachine]

Hummer, meet your new master...

Who bought Hummer? Sichuan Tengzhong of China - Jun. 2, 2009

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.

[PriusLewis]

Originally Posted by zenMachine

Hummer, meet your new master...

Who bought Hummer? Sichuan Tengzhong of China - Jun. 2, 2009

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 predicted in another post that the Chinese might pop up as a potential buyer for some or all of GM...

[zenMachine]

So, how much would you pay for a Chinese Hummer???

[rpatterman]

Originally Posted by zenMachine

So, how much would you pay for a Chinese Hummer???

Exactly as much as an American Hummer: ZERO!

[usbseawolf2000]

What will happen to the resale value of Hummers? Where would they go get them fixed?

[JSH]

Originally Posted by usbseawolf2000

What will happen to the resale value of Hummers? Where would they go get them fixed?

I doubt much at all will happen to the resale value of Hummers. Why would it?

Owners will get their Hummers fixed at the local Hummer dealership, the same as they do today.

The Chinese company will be contracting with GM to supply H2 and H3 vehicles. So at least for now Hummers will still be made in the same plant as today. Most people won't even know about the change in ownership unless they happen to see it on the news.

[zenMachine]

Originally Posted by rpatterman

Exactly as much as an American Hummer: ZERO!

Arghh... it was meant as a joke. Chinese hummer... Get it?

Ne'er mind...

[patsparks]

I thought Hummer were a military machine?

Yeah right!!

(Referring to a company selling a military hardware manufacturing company to China)

[JSH]

Originally Posted by patsparks

I thought Hummer were a military machine?

Yeah right!!

(Referring to a company selling a military hardware manufacturing company to China)

The military Hummers (HMMWV) and civilian Hummers are two separate companies. Military Hummers are made by AM General. For a time GM contracted with AM General to sell civilian versions of the HMMWV as the Hummer H1. GM also contracted with AM General to provide the Hummer H2 though this vehicle was based on GM's light-truck platform and designed by GM. The Hummer H3 was made by GM and is also based on a GM light-truck platform.

The Hummer H2 is an expensive Chevy Tahoe while the Hummer H3 is an expensive Chevy Colorado. Some Hummer owners are delusional and bought into the whole military grade thing. However, unless they own a H1 they are just driving a re-bodied Chevy truck.

[jayman]

Even a civillian H1 is different than the military version. First of all, it has real seats, not metal shells that are bound to cause hemmorhoids.

There is a ton of sound insulating material in the civvie H1, so you can actually pretend to carry on a conversation

The civvie H1 didn't have a non-turbo 6.2 diesel V8 and TH400 3 speed auto, so it could go faster than 60-65 mph flat out on the highway

The last year of the civvie H1, had the Isuzu-designed 6.6 turbodiesel and Allison 1000 5 speed auto. Apparently, that turned the civvie H1 into a nice capable machine.

I only wish the military spec hummers I bounced around in had been equipped like that