GM to sell Hummer to Chinese Co?
Edmunds.com speculates:
SHANGHAI, China — General Motors could sell its troubled Hummer brand to a Chinese automaker, according to Fritz Henderson, president and chief operating officer.
“If any Chinese companies are interested in buying Hummer, it will be certainly an option for us to look at. We need to be open to all ideas,” said Henderson, who was making his first trip to China since he took up his new post in March.
Henderson also emphasized that China will continue to be a major factor in GM’s bid to return to profitability. A continuing interest in the Chinese market, as well as other emerging markets such as Russia and Latin America, is a top priority for GM, which is struggling with slumping sales in North America, especially of big trucks and SUVs.
With gas prices in the U.S. now averaging more than $4 a gallon, customers have shunned GM’s full-size pickups and utility vehicles and shifted to fuel-efficient compact cars.
Over the past three years, GM has reported losses totaling more than $50 billion, and most auto industry analysts do not expect the automaker to return to profitability this year.
Who in China is most likely to take on Hummer? We know that Hummer and Changfeng have a potential deal on the table to supply chassis to Hummer, but does Changfeng have the cash on tap to buy up Hummer? Who else in China would be willing to buy into Hummer? We could add to the speculation, and say that US Government may not be willing for a Chinese company to engage in a NAC MG style ‘lift and shift’ operation to take technology and entire factories back to the PRC without some sort of guarantee for US workers. On the other hand, the low Dollar, and the high Yuan have seen an increase of direct Chinese investment in the USA.
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More to the point who would be crazy enough to buy this dinosour?-yeah right we all know who………….
If they start making Hummers here then maybe there can be a Hummer club to harass the Mazda 6 club for a bit of payback. http://www.chinacartimes.com/2007/09/04/mazda-6-club-target-a-humvee-witch-hunt-ensues/
I hope Chinese automakers aren’t foolish enough to buy Hummer brand. What are they gonna do with Hummer brand after buying it, put Hummer badge on a line of econoboxes?
With reference to your quote: “US Government may not be willing for a Chinese company to engage in a NAC MG style ‘lift and shift’ operation to take technology and entire factories back to the PRC without some sort of guarantee for US workers.”
Hummer and maybe GM itself is on the verge of extinction in North America just like MG Rover was in England. They have no choice but to allow a Chinese company to lift and shift technology and entire factories back to China. That is if a Chinese company is even buy them. GM’s future survival is dependant on the Chinese auto market since they cannot compete with the Japanese automakers in many areas in the North American market. Yes that does come at the cost of transfering technology.
GM has made a decision to sell Hummer. NO biggy. I think if GM didn’t make market decisions I would write them off. I think its just part of them adjusting as needed. Of all the big three I give GM the best chance of making it. Ford on the other hand is a waste. They haven’t designed a car a car (bomber) guy like me has wanted since the new mustang came out. They think we’re going to buy sh_t with lotz of chrome…I hate chrome. And I love the way everybody covers up their engine with plastic..whatz u hiding? Nuff sed off to Pakistan to teach class in a mud hut.