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GM's Hummer Brand To Be Sold To a Chinese Company
An anonymous reader writes in to note that GM will sell its Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery Co. of China, a little-known industrial firm. For now, the deal will save 3,000 jobs in the US. (The military HumVees are made by a separate company and are not involved in this deal.) "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. ... GM said it sold 5,013 Hummers worldwide in the first quarter, down 62% from the 13,050 that it sold in the same period the prior year." AP coverage has more details on GM's planned divestitures, including the shedding of Pontiac, Saturn, and Saab.
That's worldwide. They're popular in the middle east and africa for sheiks and dictators.
Do you even lift?
These aren't the 'roids you're looking for.
I wonder if anyone will buy Saab now, it has had worse sales than Hummer for a long time.
http://www.autoblog.com/2009/06/02/by-the-numbers-may-2009-gm-and-ford-surprise-edition/
The above link has some sales data.
The real problem isn't that Hummer is sold, it is that the bankruptcy of GM and Chrysler have both been shoved down the companies and investor's throats. So they will trot out that they saved 3,000 or so jobs. What about the 100,000 plus jobs lost when all the dealerships are being forced to close, even ones who make a profit? A considerable number, if not the majority, of dealerships being punted are profitable.
This is all about Wall Street and not Main Street. The people tasked with doing these close outs and sales are all Wall Street regulars. If Wall Street had been held to the same standards as Detroit the change might have been something I could believe in. Instead communities are going to face real problems when dealerships close. Yeah, 3000 jobs is nice but it is a nickle on a Cadillac in terms of loss/gain. In other words, who the flip cares?
Hummer. Funny thing is they will survive in the real world and not the alternate reality world the US has become.
* Winners compare their achievements to their goals, losers compare theirs to that of others.
Neither. The military versions are called HMMV, which people tend to sound as HumVee. The GM product is called H1/H2/H3 Hummer and is based upon the Chevy Suburban Platform. Mainly the entire division is a marketing drone's wet dream as the best Mileage I've seen listed for the Hummer was 12MPG on the highway. Simply put, what killed the division is the low mileage and fuel guzzler tax here in the states because the vehicles simply couldn't get any mileage at all unlike the Real HMMV, that avgs. 20+mpg and the engine is a true multi-fuel capable. Primary is diesel but it will run on damn near anything including gasoline, ethonal and even what American's fondly call beer.
Mod me up/Mod me down: I wont frown as I've no crown
The original post has
Before you worry about soldiers of US army and marines riding on Chinese made jeeps, you should also note that GM China has made recorded sales in China, despite of its parent's woe in the US. I personally did notice quite a lot more Buick's running in the city of Shenzhen than on the streets of California. When I was over there, I owned a Buick myself which was made in China but with US-made engines and transmissions; whereas i own a Japanese car here in California. Strange world.
Why is it edited away? Is / . censoring our post, because the news of american company doing well in China does not fit the site's editorial agenda?
The American economy recovered from the great depression by draining UK's coffers via the lend-lease act. That recovery turned into a boom which lasted nearly 50 years.
The current Chinese boom is a result of draining America's coffers. Its only a matter of time before the Chinese economy becomes self sustaining and they won't need us anymore. I'm afraid of what will happen when China becomes the new superpower and America takes up France's position of Ex-Superpower Turned Whiney Cheese Eating Surrender Monkeys...
Is it sad that I am more likely to recognize you and your posts by your sig than your name or UID?
Keep plowing ahead ignoring your customers.
After all, they'll buy what you damn well want them to buy, right? Wrong. GM had piss-poor leadership, management with no vision. They kept making product that no one wanted to buy. The market handled GM alright.
Now, just think if GM had treated every potential customer that entered a dealership as a criminal.
Watch out RIAA/MPAA your industries are next. The market will handle you as well.
They're using their grammar skills there.
Sorry, could you specify whether you're referring to China, or the US. Hard to differentiate on those criteria. If you'd said "invades or bombs foreign countries on a whim", "kidnaps, imprisons and tortures nationals of any country without due process", I might have guessed.
Sorry, couldn't resist that straight line.
The UK made its last repayment at the end of 2006. This is an article from the Beeb about it. Interestingly, there are still WW1 debts still outstanding, which "Adjusted by the Retail Price Index, a typical measure of inflation, £866m would equate to £40bn now, and if adjusted by the growth of GDP, to about £225bn."
You can compare this with 1805 when the Battle of Trafalgar occurred. British government debt then equated 30 times their annual revenue. By winning that battle though, Britain become the dominant power, and presumably paid of the debts of all the wars by plundering the rest of the world.
Quibble: it was the UK, not England, that received the loans from the US.