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The Chinese plan to increase the brand's international presence

DailyTech reported yesterday on GM's announcement that it had found a buyer for the Hummer brand of heavy utility vehicles.  The mystery buyer promised to take on the brand and help expand its international presence.  In the process it saved a number of jobs at Hummer plants and helped GM complete a major step toward moving out of bankruptcy.

Now the identity of the mystery buyer has been revealed.  Sichuan Tengzhong Heavy Industrial Machinery Company Ltd., a Chinese industrial firm, will be purchasing the brand and attempting to revive it.

States Yang Yi, chief executive of Tengzhong, "We plan to ... allow Hummer to innovate and grow in exciting new ways under the leadership and continuity of its current management team."

He did, however, hint at changes stating that the deal "will allow Hummer to better meet demand for new products such as more fuel-efficient vehicles in the U.S."

The companies hope to have the deal finalized by September.  The deal does not concern the military Hummer technology owned by defense contractor AM General, which licensed the brand name to GM for civilian vehicle purposes.  AM General will now, in turn, license the name to Sichuan Tengzhong, which will continue the civilian Hummer development.



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RE: Sad.
By mdogs444 on 6/3/2009 3:31:00 PM , Rating: 2
quote:
If CAFE didn't exist I doubt any of the American car companies would have even been making cars (as opposed to truck/SUVs), much less small cars.

Stuff and nonsense. You fail to realize that not everyone is on the same budget. Not everyone can afford an suv, truck, large car, midsize car. Economy cars/small cars are the cheapest to produce, however they have the smallest profit margin. They have always made a few of them, but due to it not being profitable and the low sales figures, they didn't expand on it...what business would have?

You make the claim that Toyota and Honda always made these cars. Sure, they did, I agree with that. However, their original target market was NOT the US. And it wasn't until gas was over $2.25 a gallon creeping up to $4.00 a gallon that these companies starting rolling out their trucks and suv's in massive quantities (Pilot, Ridgeline, Tundra, Armada, Titan). They too saw the profitability and previous sales figures of the US consumer.
quote:
Only at $3+/gallon gas did any U.S. consumers actually think about how much gas they were using to drive the behemoth around.

You see - this is the big difference in your thinking. You try to justify getting rid of big cars and trucks because we are using too much oil, and that the price of it is what made people aware. But you couldn't be further from the truth. The price of gasoline makes people think about their fiscal responsibility, not their actual oil consumption for the good of mankind. People WANT the government to expand oil, make it cheaper, reduce taxes on it so that they can afford to drive the types of cars, trucks, and suv's that they like. The masses do not want to get rid of their cars to get something economical - that would assume they actually want the price of gasoline to stay as is.


RE: Sad.
By fic2 on 6/3/2009 5:27:43 PM , Rating: 3
quote:
You make the claim that Toyota and Honda always made these cars.


As far as I can tell you are the first and only one to bring up Toyota and Honda. It seems that you like to read a lot between the lines - that I am liberal (not), that I am anti-oil (again, not), that I believe in global warming (juries still out, but I doubt it is majority man made), etc.

My claim was that U.S. car companies wouldn't be producing small cars if not for CAFE. My proof is that they didn't before CAFE.


RE: Sad.
By croc on 6/3/2009 6:36:31 PM , Rating: 1
It always amazes me how few Americans really know their recent history, let alone their past history. CAFE standards were put in place in 1975 in response to the 1973 oil embargo imposed by OPEC. It has not really moved all that much higher in the ensuing 32 years, compared to the rest of the fuel standards in the rest of the world. You yanks always come back with 'yes, but we need our big cars / trucks to travel the vast distances in the US...' Please bring one of your yank tanks down here to AUS, and go outback. Try going from Brisbane to Perth via Alice Springs. Hint: Bring your sand tires, several spares as well, several jerry cans of fuel and several more of water.


RE: Sad.
By Nfarce on 6/3/2009 8:27:11 PM , Rating: 2
quote:
Please bring one of your yank tanks down here to AUS, and go outback. Try going from Brisbane to Perth via Alice Springs. Hint: Bring your sand tires, several spares as well, several jerry cans of fuel and several more of water.


Okay, I'll see your call and raise you: throw in towing a boat or camping trailer that we "yanks" like to haul around in our "tanks." Of course, I won't go into the need to haul around a lawnmower in said "Yank tank" to make a living cutting grass or chopping trees down and selling firewood from the back of a pickup. Guess that wouldn't work down in your land very well either, eh bloke?


RE: Sad.
By jconan on 6/3/2009 10:41:09 PM , Rating: 2
if everyone studied history Apple would not have a group of evangelist claiming that everyone is copying Apple iPod and iPhone...


"A politician stumbles over himself... Then they pick it out. They edit it. He runs the clip, and then he makes a funny face, and the whole audience has a Pavlovian response." -- Joe Scarborough on John Stewart over Jim Cramer














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