Volvo to Refresh 2010 C30

Motor Authority - blog Category: HUMMER

  • Report: HUMMER To Resume H3, H3T Production In November

    Report: HUMMER To Resume H3, H3T Production In November October 16th, 2009 By Nelson Ireson's avatar Nelson Ireson, Author, October 16th, 2009 Nelson Ireson 1 Comment

    Report: HUMMER To Resume H3, H3T Production In November

    If one thing is certain, these are uncertain times, especially when it comes to the sale of former GM brands. While the HUMMER-Tengzhong deal doesn't look to be headed to the rocky fate of Saturn's sale to Penske, it still hasn't passed final regulatory approval in the U.S. or China, but already reports of the resumption of HUMMER H3 and H3T production are emerging.

    The news comes none too soon for dealers that are nearly out of inventory to sell, though according to the report they'll still have to wait about a month before new HUMMERs arrive on their lots.

    Once the sale to Tengzhong is complete and production can get back underway, there...

    If one thing is certain, these are uncertain times, especially when it comes to the sale of former GM brands. While the HUMMER-Tengzhong deal doesn't look to be headed to the rocky fate of Saturn's sale to Penske, it still hasn't passed final regulatory approval in the U.S. or China, but already reports of the resumption of HUMMER H3 and H3T production are emerging. The news comes none too soon for dealers that are nearly out of inventory to sell, though according to the report they'll still have to wait about a month before new HUMMERs arrive on their lots. Once the sale to Tengzhong is complete and production can get back underway, there should be little or no delay in sourcing parts because production for non-U.S. markets has taken place within the last several months, meaning suppliers are still tooled and ready to send parts to the factories. The HUMMER H2, on the other hand, would take 3-4 months to get back online, since production of that model has been down for some time. The deal with Tengzhong, rumored to have cost the Chinese buyer just $150 million, is signed with GM, but must still meet approval from the Chinese government before it can be finalized. Once that is done, however, progress should happen rapidly, as the company plans to keep on the current HUMMER executive management team and will contract production directly from the existing HUMMER plants through June 2011. Once production on the H3 and H3T does resume--assuming the sale moves forward as expected--a new E85 flex-fuel version will be first on the docket under Tengzhong's guidance, as the Chinese hope to push the HUMMER brand into previously unknown green territory. [HUMMERGuy] Read More

  • HUMMER And Tengzhong Sign Sale Agreement

    HUMMER And Tengzhong Sign Sale Agreement October 9th, 2009 By Nelson Ireson's avatar Nelson Ireson, Author, October 9th, 2009 Nelson Ireson 3 Comments

    HUMMER And Tengzhong Sign Sale Agreement

    Back in June we brought you the lowdown on HUMMER's talks with Chinese firm Sichuan Tengzhong Heavy Industrial Machinery Co., and since then the updates on the deal's progress have been steady. Yesterday a report from a source briefed on the deal said Sichuan Tengzhong and GM could sign a deal by today, and now the sale has been officially announced by GM.

    "General Motors (GM) and Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd (Tengzhong), today announced that the companies have entered into a definitive agreement that will allow Tengzhong to acquire GM's premium all-terrain HUMMER brand," GM said today in a statement.

    "HUMMER is a...

    Back in June we brought you the lowdown on HUMMER's talks with Chinese firm Sichuan Tengzhong Heavy Industrial Machinery Co., and since then the updates on the deal's progress have been steady. Yesterday a report from a source briefed on the deal said Sichuan Tengzhong and GM could sign a deal by today, and now the sale has been officially announced by GM. "General Motors (GM) and Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd (Tengzhong), today announced that the companies have entered into a definitive agreement that will allow Tengzhong to acquire GM's premium all-terrain HUMMER brand," GM said today in a statement. "HUMMER is a strong global niche brand and this agreement signifies another important milestone in writing the next chapter for both GM and HUMMER," said Fritz Henderson, GM President and CEO. "For HUMMER, the combination of its knowledgeable leadership team, vehicle design expertise and the capital financing of Tengzhong portend a successful future." HUMMER owners who feel morally justified in their choice of the brand due to its American symbolism need not freak out completely: Sichuan Tengzhong plans to put the global brand headquarters near Detroit, thanks in part to a  $20.6 million state tax credit from Michigan. The current management team at HUMMER will also stay in place, including CEO James Taylor, who will keep his role. Manufacturing will be contracted from GM through the existing HUMMER plants, including the H3 and H3T coming out of the Shreveport, Louisiana plant. AM General's plant in Mishawaka where the H2 is made will also continue to build cars for the new ownership through 2011, with a possible one-year extension in 2012. The contracts secure as many as 3,000 jobs in the U.S. "We are excited about some of the initiatives already underway at HUMMER that we believe our investment will be able to accelerate, particularly related to the creation of the next generation of more fuel-efficient vehicles to meet not only future regulations but also customer expectations," said Yang Yi, chief executive officer of Tengzhong. The first plans for the new HUMMER are to extend E85 flex fuel capability to the entire fleet by including the H3 and H3T in the mix, making HUMMER the first manufacturer to do so with its entire lineup--though to be fair, HUMMER's entire lineup consists of essentially two models and their variants at this point. Read More

  • Report: Hummer Buyers Feel Morally Justified

    Report: Hummer Buyers Feel Morally Justified September 25th, 2009 By Nelson Ireson's avatar Nelson Ireson, Author, September 25th, 2009 Nelson Ireson 2 Comments

    Report: Hummer Buyers Feel Morally Justified

    Whether you're a fan or a foe, chances are you feel strongly about the Hummer range of vehicles. Ever since Arnold Schwarzenegger popularized the military vehicle for civilian use, environmentalists have decried its impropriety. But just as vehemently, buyers of the vehicle feel they are acting morally, the Hummer a mobile statement of their belief systems.

    It might seem like a weird thing to the general public, but any enthusiast is familiar with the feeling one gets when faced with a vehicle they love--or hate. And Hummer owners are no different.

    Far from oblivious, unmotivated buyers that simply flock to the largest thing on the lot, the...

    Whether you're a fan or a foe, chances are you feel strongly about the Hummer range of vehicles. Ever since Arnold Schwarzenegger popularized the military vehicle for civilian use, environmentalists have decried its impropriety. But just as vehemently, buyers of the vehicle feel they are acting morally, the Hummer a mobile statement of their belief systems. It might seem like a weird thing to the general public, but any enthusiast is familiar with the feeling one gets when faced with a vehicle they love--or hate. And Hummer owners are no different. Far from oblivious, unmotivated buyers that simply flock to the largest thing on the lot, the typical Hummer buyer in a Journal of Consumer Research survey made their decision on ideological and moral grounds. Those grounds? The defense of American national ideals. No, seriously. As backwards as that may seem given America's dependence on foreign (largely South American) oil, that very critique is what makes the Hummer buyer's mindset uniquely American, according to the study. Being "under siege" by those who would criticize them is "an historically established feature of being an American." As Wired points out, and as is the nature of any such study, there are a few problems with the Journal's treatment of the issue. They only interviewed 20 buyers, so the sample may not be sufficiently representative for generalization. On the other hand, that small sample size gives a depth of analysis that's not obtainable in a 10,000-person multiple-choice survey. Regardless of where you come down on the issue, it's an interesting look inside the underlying motivators for car purchases, and reminds us all that as much as we may pride ourselves on being logical, rational beings, we also frequently act emotionally, especially when dealing with such important aspects of our lives as the vehicles we drive. [Via Wired] Read More

  • Report: Hummer HQ To Be Located In Detroit

    Report: Hummer HQ To Be Located In Detroit September 22nd, 2009 By Nelson Ireson's avatar Nelson Ireson, Author, September 22nd, 2009 Nelson Ireson 1 Comment

    Report: Hummer HQ To Be Located In Detroit

     Since GM entered bankruptcy, talk of Hummer's impending sale to Chinese firm Sichuan Tengzhong Heavy Industrial Machinery (Tengzhong) has included hints that the brand would remain U.S.-based, but today the company confirmed that the Hummer brand's headquarters will be located in Detroit.

    The news isn't certain despite being straight from Tengzhong's mouth, however, because the sale of Hummer to Tengzhong still isn't final. Earlier reports had the sale going through by the end of October, and the deal appears to still be on track for closing next month.

    Negotiations are still underway, however, and GM could drag its feet or even find...

     Since GM entered bankruptcy, talk of Hummer's impending sale to Chinese firm Sichuan Tengzhong Heavy Industrial Machinery (Tengzhong) has included hints that the brand would remain U.S.-based, but today the company confirmed that the Hummer brand's headquarters will be located in Detroit. The news isn't certain despite being straight from Tengzhong's mouth, however, because the sale of Hummer to Tengzhong still isn't final. Earlier reports had the sale going through by the end of October, and the deal appears to still be on track for closing next month. Negotiations are still underway, however, and GM could drag its feet or even find another buyer at the last minute, much as it attempted to do with the sale of Opel to the Magna/Sberbank conglomerate in Europe. Still, despite the uncertainty, the news has to be heartening for Michiganders, as the state's already struggling economy has been hit especially hard by the spike in unemployment following bankruptcies at Chrysler and GM. The Detroit HQ won't make a big dent in the unemployment figures, however, as only about 100 people will work there initially. The total number of workers at the HQ could eventually grow to 300. [Detroit News] Read More

  • Report: Hummer Tengzhong Deal Set To Finalize By End Of Q3

    Report: Hummer Tengzhong Deal Set To Finalize By End Of Q3 August 23rd, 2009 By Viknesh Vijayenthiran's avatar Viknesh Vijayenthiran, Author, August 23rd, 2009 Viknesh Vijayenthiran 0 Comments

    Report: Hummer Tengzhong Deal Set To Finalize By End Of Q3

    General Motors first confirmed the sale of its Hummer brand in August 2008 and then followed up the original announcement with the release of an official document for potential buyers just one month later. Poor sales, growing public concern for the environment and the recession all added up to weaken Hummer's sales chances, but eventually a buyer was found in the form of China’s Sichuan Tengzhong Heavy Industrial Machinery Co. (Tengzhong).

    According to latest reports, Tengzhong expects the deal to be completed in the third quarter of this year. The actual amount of cash trading hands is still unclear but most reports estimate between $150...

    General Motors first confirmed the sale of its Hummer brand in August 2008 and then followed up the original announcement with the release of an official document for potential buyers just one month later. Poor sales, growing public concern for the environment and the recession all added up to weaken Hummer's sales chances, but eventually a buyer was found in the form of China’s Sichuan Tengzhong Heavy Industrial Machinery Co. (Tengzhong). According to latest reports, Tengzhong expects the deal to be completed in the third quarter of this year. The actual amount of cash trading hands is still unclear but most reports estimate between $150 million to $200 million--significantly less than the $500 million that GM had sought last year. The deal is expected to secure more than 3,000 U.S. jobs in manufacturing, engineering and at Hummer dealerships around the country. Most importantly, Tengzhong will likely maintain Hummer's complete dealership network if it succeeds in purchasing the SUV brand. For more information on the terms of the deal, check out our previous story by clicking here. [Reuters] Read More

  • Official: GM And Koenigsegg Reach Agreement Over Saab

    Official: GM And Koenigsegg Reach Agreement Over Saab August 18th, 2009 By Viknesh Vijayenthiran's avatar Viknesh Vijayenthiran, Author, August 18th, 2009 Viknesh Vijayenthiran 2 Comments

    Official: GM And Koenigsegg Reach Agreement Over Saab

    General Motors and Koenigsegg Group AB, a consortium led by supercar manufacturer Koenigsegg, have officially reached an agreement over the sale of Saab after nearly two decades of American ownership. GM has confirmed today that it has signed a stock purchase agreement with Koenigsegg Group AB regarding the sale of 100% of the shares of Saab.

    The deal is expected to conclude in the next months and will then secure Saab’s future, with the Swedish automaker set to exit legal reorganization shortly. The stock purchase agreement will be subject to agreed closing conditions, namely, the guarantee of funding commitments from the Swedish...

    General Motors and Koenigsegg Group AB, a consortium led by supercar manufacturer Koenigsegg, have officially reached an agreement over the sale of Saab after nearly two decades of American ownership. GM has confirmed today that it has signed a stock purchase agreement with Koenigsegg Group AB regarding the sale of 100% of the shares of Saab. The deal is expected to conclude in the next months and will then secure Saab’s future, with the Swedish automaker set to exit legal reorganization shortly. The stock purchase agreement will be subject to agreed closing conditions, namely, the guarantee of funding commitments from the Swedish government, as well as transitional assistance from GM. As part of the proposed transaction, GM and Saab will continue to share technology and services during a defined time period, all managed through licenses and service agreements. Koenigsegg co-owner Baard Eker has previously stated that his company has several good solutions to bring into Saab. Strong words coming from a man whose company has less than 50 employees and turns out only a handful of $1 million supercars each year, but with the new funding Saab should be able to successfully launch three new models over the next 18 months and hopefully see the company become an innovator of technology like it had been in the past. The three new models planned include the recently revealed 9-3X as well as the new 9-4X and aforementioned 9-5. Koenigsegg, meanwhile, will reportedly benefit from Saab’s existing production facilities and plans to use the capacity for its upcoming Quant electric supercar. Last year Saab saw its global sales drop 25.5% to just 93,338 units and 2009 is expected to be even lower. The struggling automaker had originally filed for reorganization under Swedish Law on February 20, 2009. Read More

More Headlines


  1. 1
  2. 2
  3. 3
  4. 4
  5. 5