Report: GM selling Hummer brand to Chinese buyer

Posted: Jun 02, 2009
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Earlier this morning, GM announced that it has reached a tentative deal to sell its Hummer brand; however, it declined to name the buyer or the vale of the deal.

GM CFO Ray Young said the buyer for Hummer, after a year-long sale process, preferred to remain anonymous for now.

“It was their preference, and we respected that preference,” Young said. He said that GM would reveal the name and the price tag of the deal once both parties have a definitive agreement.

According to The New York Times, the buyer is Sichuan Tengzhong Heavy Industrial Machinery Co Ltd, a manufacturing company in China with goals of becoming an automaker.

If the buyer happens to be Sichuan Tengzhong Heavy Industrial Machinery, the move will mark the first time a Chinese buyer has bought an American automotive brand from a struggling U.S. automaker

GM said that the buyer would contract to build the H3 and H3T pickup at GM’s Shreveport, Louisiana, plant up until 2010. The Detroit automaker said that the investor would also aggressively fund future Hummer vehicles.

- By: Omar Rana

Source: Reuters


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  • saddayinamerica

    GM should have just retire the brand. As a veteran of Desert Storm, I am feeling sad just like my grandpa who fought against Fascism and Nazism during WW2 in his Jeep (now owns by the Italians). At least he died before seeing the country he loved going down the wrong path.

    Symbol of freedom worldwide is now in the hand of communist Chinese. Can you say 'freedom' is now at stake.

  • emma

    Well, they already make the toy version :)

    Seriously, it is sad to see how the mighty America has fallen hard. America has lost face to Russia, China and even France.

    Yes, GM should have let Hummer gone peacefully and gloriously into automotive history. However, the greedy GM wants to make a few bucks. I hope GM fails miserably even after my money went to the bail out.

  • GMfan87

    then the “mighty America” will fall even farther and lose even more face…think about the hardship and disasters a GM failure entails, then think about what a successful recovery would bring to the economy and country as a whole…which sounds better?

  • chris ronk

    I've never been a big fan of driving big fancy cars although I wouldn't categorize myself as a hater. I hope the Chinese have better luck than we did with the brand. I somehow doubt it though.

  • chris ronk

    I've never been a big fan of driving big fancy cars although I wouldn't categorize myself as a hater. I hope the Chinese have better luck than we did with the brand. I somehow doubt it though.