Hummer Buyer, Who is buying hummer? General Motor’s (GM) Hummer Sells
Who is buying hummer? General Motor’s (GM) Hummer Sells. The Saturn, Saab and Hummer units are likely to be sold off, while Pontiac is being shut down entirely. Find out who bought the General Motor’s Hummer & detail story here…
General Motor’s (GM) Hummer
Source nytimes.com:
Tags: general motors’ hummer, gm sells hummer, Hummer, Hummer Buyer, hummer sale, hummer sold., who bought hummerA day after it filed for bankruptcy protection, General Motors said Tuesday that it had reached a deal to sell its Hummer brand of large trucks.
G.M. did not disclose the buyer’s name or the price. It said the deal would save about 3,000 jobs in the United States, including those at its 153 domestic dealerships, and that Hummer would remain based in the United States. “Overall, we’re pretty pleased,” a spokesman for Hummer, Nick Richards, said. “If you think about the qualities we’d want in a new owner for the brand, this buyer really met all the criteria. They’ve got a proven track record in international business, and they’ve got a long-term vision for the brand. They’ve got the capital to invest in more efficient vehicles, which is what’s necessary to grow the brand.” G.M., which is hoping to shed unwanted assets and emerge from bankruptcy in about two months, said it expected the deal to close in the third quarter. The automaker had planned to close Hummer if a buyer could not be found. It is also trying to sell Saturn and Saab this year and plans to eliminate a fourth brand, Pontiac, in 2010.
[...] a brand since its bankruptcy four days ago. On Tuesday, GM said it had a opening accord to sell Hummer to China’s Sichuan Tengzhong Heavy Industrial Machinery [...]