GM Strikes Hummer Deal

Sale of gas-guzzling brand falls through

(NEWSER) - The once-mighty Hummer is going away for good. GM has begun winding down the brand after a sale to a Chinese company fell through. It's the second brand, along with Saturn, that GM has failed to sell as part of its restructuring. Only about 2,500 Hummers remain in stock, and the company will honor warranties for vehicles still on the road. More»

GM offloads brand to Chinese heavy-equipment maker

(NEWSER) - General Motors has finalized a deal to sell its iconic Hummer brand to Chinese heavy-equipment maker Sichuan Tengzhong Heavy Industrial Machinery Co. The deal will save 150 Hummer dealerships and 3,000 American jobs, execs say. The vehicles will be assembled at GM plants in the US until 2011 under the deal, and the Chinese firm has signaled it plans to continue manufacturing in the US afterwards. More»

(NEWSER) - Saturn dealerships around the country have been using the brand’s planned acquisition by Roger Penske to attract customers, the Wall Street Journal reports. "People want to buy from someone they like," said the owner of a Saturn dealership in Wichita. But dealership owners nationwide have since received letters from GM asking them to downplay the Penske association. More»

Country KOs GM deal with manufacturer over environmental worries

(NEWSER) - Beijing will halt GM’s sale of the Hummer brand to a Chinese machinery firm over pollution concerns, according to Chinese state radio. The purchase would run counter to the government’s goal of reducing pollution caused by manufacturing, the BBC reports. The Chinese firm shrugged off the report. “The fact that it is from an article from a state media organization does not mean it is government policy,” the company said in a statement. More»

New models will be introduced soon

(NEWSER) - General Motors hopes to rebound from a 19% first-quarter drop in Middle East sales by introducing new models and helping buyers with down payments, Reuters reports. "There are a lot of people who walk into showrooms who aren't able to buy because they can't get financing," says the company's regional president. GM expects a profit in the region, but "much less so than last year." More»