Filed under: SUV, Government/Legal, GM, Hummer, Off-Road

According to a report by the Wall Street Journal, General Motors is taking a second look at two previous offers for Hummer after the deal to sell the ailing sports utility brand finally succumbed to a slow death yesterday.

The WSJ doesn’t divulge which companies are in the offing to purchase Hummer, only saying that GM had rejected offers from the two firms last year.

The original deal to offload the brand onto China’s Sichuan Tengzhong Heavy Industrial Machinery for $150 million was apparently rejected by the Chinese government, although the reason for the rejection is still in question.

It’s hard not draw comparisons to the Saab saga that played out over the course of the last year, with GM finally selling the brand to Spyker after prolonged negotiations. Then again, we could have a Pontiac or Saturn situation on our hands, with Hummer set to go the way of the Dodo if a deal isn’t reached within the next few months.

[Source: Wall Street Journal - Sub. Req. | Image: Scott Olson/Getty]

Report: General Motors looking at two previous Hummer offers originally appeared on Autoblog on Thu, 25 Feb 2010 13:08:00 EST. Please see our terms for use of feeds.

Permalink?|?Email this?|?Comments

Continue reading here:
Report: General Motors looking at two previous Hummer offers

Filed under: SUV, China, Government/Legal, Hummer, Earnings/Financials

It looks like General Motors‘ deal to sell its Hummer brand to China’s Sichuan Tengzhong Heavy Industrial Machinery is on shaky ground. According to Reuters, the likelihood that the Chinese government will give its approval to Tengzhong has been waning in recent weeks, leading the would-be purchasers to consider making the acquisition using an offshore investment vehicle to skirt the need for Chinese regulatory approval. GM and Tengzhong had originally set a January 31st deadline to complete the sale, later extending that time frame to February 28th.

The Chinese National Development and Reform Commission and the Ministry of Commerce are thought to have taken issue with the idea of such an environmentally unfriendly automaker coming under Chinese ownership. Further, Tengzhong has never actually made a passenger vehicle, and China already has over 100 companies producing automobiles and the government has gone on record saying it would like to reduce that number. Stay tuned.

[Source: Reuters]

Hummer deal with China’s Tengzhong looking shaky originally appeared on Autoblog on Tue, 23 Feb 2010 13:26:00 EST. Please see our terms for use of feeds.

Read?|?Permalink?|?Email this?|?Comments

See the original post here:
Hummer deal with China’s Tengzhong looking shaky

Filed under: Government/Legal, Hummer, Military, Specialty, Off-Road

The military-spec High Mobility Multipurpose Wheeled Vehicle (HMMWV, or Humvee) has had a long and honorable lifespan, for sure. But there’s no arguing that American troops in Iraq, Afghanistan or anywhere else the U.S. military is active need a new vehicle that’s been designed and built to counter modern warfare tactics.

This being the case, it’s not terribly surprising to hear that the final 2,620 Humvees have been ordered from Mishawaka, Indiana-based AM General by the U.S. Army. In total, AM General has produced 240,000 Humvees since 1985.

Just as the Humvee replaced the original military Jeep some 25 years ago, today’s replacement is seen as a response to a revised set of needs in the battlefield, not the least of which is adequate protection from improvised explosive devices, or IEDs. More than 1,700 U.S. troops have died in Iraq alone from IEDs as of last month, and the military is responding by switching to Mine Resistant Ambush Protected vehicles, or MRAPs, and the M-ATV from Oshkosh.

The Humvee story isn’t yet over, however, as the Army, Navy, Marine Corps and Air Force still have many of them in service. What’s more, the Army’s latest budget includes nearly a billion dollars to maintain its existing fleet of Humvees. Also keep in mind that the Humvees used for military purposes are not the same as those sold under the civilian Hummer brand, which General Motors is still working to sell to Sichuan Tengzhong Heavy Industrial Machinery of China. For more Humvee goodness, check out the high-res gallery below. All photos are courtesy U.S. Army.

[Source: The Canadian Press via Google | Image: U.S. Army]

U.S. Army to give long-serving Humvee honorable discharge? originally appeared on Autoblog on Sat, 13 Feb 2010 13:31:00 EST. Please see our terms for use of feeds.

Read?|?Permalink?|?Email this?|?Comments

See the article here:
U.S. Army to give long-serving Humvee honorable discharge?

Filed under: Sedan, Truck, Plants/Manufacturing, GM, Hummer

Lost in the hoopla surrounding General Motors’ attempted sale/wind-down of Saab and Ford’s situation with Volvo and Geely has been any word surrounding the sale of Hummer to China’s Sichuan Tengzhong Heavy Industrial Machinery. Whatever the state of the Hummer transaction, it appears The General is done waiting. The Detroit News reports that GM plans to halt Hummer production at its Shreveport, LA assembly plant on Monday until a sale of the brand is complete. The factory builds the H3 and H3T (models that account for about 25-percent of the plant’s overall production) and the General says it’s premature to speculate how much the facility’s 1,120 workers will be affected.

Hummer dealers currently have a stockpile of about 2,100 H3 variants on lots – enough of a supply to last seven months at the model’s current take rate. Hummer spokesman Nick Richards told the DetNews that H3 production will ramp back up after the sale “once marketing kicks back in and there is new interest and enthusiasm.” Of course, if the Hummer sale ends anything like GM’s Saab and Saturn debacles, that date could be never.

[Source: The Detroit News]

Report: GM to idle Hummer production on Monday until China deal goes through originally appeared on Autoblog on Thu, 14 Jan 2010 09:58:00 EST. Please see our terms for use of feeds.

Read?|?Permalink?|?Email this?|?Comments

See the article here:
Report: GM to idle Hummer production on Monday until China deal goes through

Filed under: SUV, Truck, Plants/Manufacturing, Hummer, Off-Road

Although the Hummer sale isn’t officially official – which is to say, the Chinese authorities haven’t told Tengzhong “Proceed!” – it is official enough that GM has restarted production of the 2010 H3 and H3T at its Shreveport, LA plant. General Motors didn’t want to be stuck with dead models, so it closed the Hummer spigot while its side of the deal with Tengzhong was finalized. By the beginning of this month, though, the bottom of the inventory barrel was starting to peek through, with just 1,183 units on hand.

Even though Hummer sales are down more than 50 percent, nevertheless people are still buying, and the company’s two H3 models are obviously the most popular. According to Automotive News, a Hummer spokesman reports that the 2010s should be arriving in dealerships in December – and as we reported earlier, you may even find them in two new colors and with biofuel capability.

[Source: Automotive News, sub. req'd]

Hummer grinds gears: production of 2010 H3 and H3T resumes originally appeared on Autoblog on Wed, 11 Nov 2009 14:28:00 EST. Please see our terms for use of feeds.

Read?|?Permalink?|?Email this?|?Comments

Original post:
Hummer grinds gears: production of 2010 H3 and H3T resumes