GM to Wind Down Hummer After China Sale Fails
 

(Reporting by Soyoung Kim, editing by Matthew Lewis)
Copyright 2010 Reuters News Service. All rights reserved.

"DETROIT (Reuters) - General Motors Co will wind down its Hummer SUV line after failing to complete a deal to sell the brand to China's Sichuan Tengzhong Heavy Industrial Machinery Co, the automaker said on Wednesday.

"We are disappointed that the deal with Tengzhong could not be completed," John Smith, GM vice president of corporate planning and alliances, said in a statement.

"GM will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner," Smith said.

A source briefed on the situation said on Tuesday that Beijing had rejected a bid by Tengzhong, an industrial equipment maker based in Sichuan province, to buy the money-losing brand from GM.

GM said it will continue to honor warranties and provide service support and spare parts to current Hummer owners."

Thanks for the post and welcome to the forum. It will be interesting to see if there are any other bidders lurking out there. Hopefully, it will be a U.S. based company.

I was just going to post this and ask everyone what their thoughts are.

Will Hummer be back? How will our trucks be viewed?

I know parts will be ok for some time but for how long?

Whats going to happen to values?

I hate this! I am going to make a big Hummer Flag to put outside my house!

Do you think the value of our H2's will go down now?

How hard will it be to get parts in a few years?

I wouldnt think parts will be an issue
my truck is 10 years old and production stopped in 2006, i can get plenty of parts.

I have been wanting new H2, but the prices are holding.. i was waiting for them to come down. doesnt look like they will. I hear lots of talk of buying Hummers now more than before. Guess its like anything, when you find out its hard to get or going away ... Then Everyone wants it.

Has anyone heard any new news on the Hummer deal? Any action from anyone else?

I went to the dealership the other day to get service done on my car and the rep there told me that they've already stopped selling H2's (in fact, only a traded in h2 SUT was left over on the showroom floor).

But to answer your question, I believe the deal with China was the Hummer's last hope.

I think things will all work out in the end

I think it is a pity that Hummer stops. There are some things to be changed that is for sure. The brakes suck, the rear suspension is old fashion, the interior finishing quality is not of this world (not in europe anyway), it drinks like hell.
But god I fall in love with it every morning I enter into the garage. And that is not me alone. Every day some people on the street congratulate me with my gorgeous car here in Europe. Where are those CO2 fools and green boys? I never see them. And anyway no car company will ever sell a decent profitable car to those green boys so what is the point in building cars for them?
I think they should convert the H2 to a niche product. Make it more exclusive. Change the outside more towards the prototype. Screw a supercharger on the engine put brembo's behind the wheels, stitch a few cows in the interior. Things many of us have already done on their cars. Then sell it for 120 000 dollar. You could sell 1000 pieces a year. You would have a gorgeous suv with real off road capacities, stunning performance and a great look. 1000x120 000 makes 120 million. What price did GM sell it for? Maybe we should buy Hummer with the guys from the forum? If a bunch of "Hollanders" can build Spyker out of nothing and buy Saab a few years later. Why couldn't we all continue a car that exists and we all love so much?

Lol
 

I'm down.. I'll contribute the first 100.00 when you guys are ready... Let's see... We'll need about 50 mil right? As for H2 values, this is great for us. Prices will go up up and up! Look at the old 300z from Nissan. During the time that it was discontinued the prices skyrocketed. And look at the nissan supras of the early to mid 90s. Anyway just my thoughts.

cb