In its attempt to shed brands on its way to a smaller, more efficient company, General Motors Corp. announced it has sold its Hummer brand to a Chinese company. Sichuan Tengzhong Heavy Industrial Machinery Company bought the Hummer brand, marking the company’s first foray into the automobile industry. The sale confirms Hummer won’t be launched in India.
The announcement came a day after GM filed for Chapter 11 bankruptcy in New York, adopting a strategy that gives the federal government 60% ownership. GM officials said they hope to emerge from bankruptcy leaner and more efficient within 60 to 90 days. Sichuan Tengzhong Heavy Industrial Machinery Company bought the Hummer brand, marking the company’s first foray into the automobile industry. Reports said the sale would save about 3,000 jobs in the U.S., at Hummer plants and dealerships.
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June 4, 2009 at 4:10 am
Good news. Nothing is going to change. The American company will fuel HUMMER with funds so that they can continue to make gas guzzling SUVs :D
June 4, 2009 at 11:57 am
I am a great fan of GM not only because of their great quality vehicles but also because it is one of the company in automotive field which has been paying a lot for the employee welfare.
Their strategy to continue for fuel guzzlers and to turn away eye towards the growing Japanese market share led them to the position they are in.
Selling of Hummer to Chinese manufacturer is a good step which will allow the to concentrate on a small segment now and they will definately prove and will bring American pride back to the top.
My best wishes are with GM and to prove my fan following I have decided to own a GM Aveo after selling Indica.
June 4, 2009 at 2:33 pm
I’m sure they have their reasons to sell. I wish them the best. Maybe many people in China will buy this car.