General Motors announced that the deal with Chinese firm Sichuan Tengzhong Heavy Industrial Machines Co. Ltd. to purchase the HUMMER brand cannot be accomplished and so the brand shall be folded.
The deal with Tengzhong was thought to be the savior of the GM brand and about 3,000 jobs ranging from engineering, dealership, and manufacturing in the United States. The plan also had provisions for the Chinese company to infuse a ton of funding for future programs and products of HUMMER. This includes the possibility of the compact H4.
The chances of the sale weakened as a result of several factors. The sales figures of HUMMER are very poor plus the concern of the market today for the environment, and the economic meltdown. The left hook, right straight, uppercut combination was just too much and knocked out the deal.
GM assured the public that they will continue to honor warranties issued to HUMMER owners. You also don’t have to worry about spare parts and support if you are an owner of this hard edged metal truck.
The call for greener vehicles was one major factor with the declaration of Chapter 11 of General Motors serving as final blow to HUMMER.
The chance to save HUMMER is defined as impossibile. It is a clear flatline. We pay our respects.
It has been on the news for several months now but finally the talks between Hummer and Chinese company Sichuan Tengzhong has reached an agreement. General Motors inked the deal with Tengzhong which allows the latter to acquire the premium brand Hummer.
Hummer is a very strong brand when it comes to the all terrain vehicle brands, and the deal with the Chinese company marks a milestone for both General motors and Hummer. The brand is seeing a bright future ahead with the management and design expertise of Hummer that will be utilized with the capital coming from Tengzhong.
The Hummer brand has known to be among the leaders of the American pack, but owners of Hummer need not worry about the acquisition. The Chinese company will keep the global head office of Hummer near Detroit since Michigan issued a tax credit of about $20.6 million to the new owners.
Following the filing of bankruptcy last Monday, GM announces the advanced negotiations with Tengzhong Heavy Industrial Machinery Company of China about the possible sale of the Hummer brand.
The American car manufacturer has announced the inevitable fate of the Hummer brand mid of last year. Hummer suffered primarily because of the recession brought about by the global credit crunch. Sales also dropped due to growing concerns about the environment.
The two parties have signed a memorandum of understanding. The talks might enter the closing phase by the third quarter of 2009 where GM and the Chinese company will agree on the regulatory approvals.
Sealing the deal will mean about 3000 jobs in the US manufacturing sector, car dealerships, and engineering. The Tengzhong has also plans of injecting massive funding into the Hummer brand including production of a compact H4.
The Hummer has been a long time favorite of car lovers and they have been grabbing it up ever since this luxury vehicle converted from an armored vehicle was released to the general market by the military. However many of them feel both worried and ashamed because of the gas guzzling capabilities of this car. It consumes a lot of fuel, lots more than the average car and this means that it also release that much extra amount of CO2 gas. Not only is fuel extremely costly nowadays and this makes driving the Hummer costlier when compared to ordinary cars, the carbon dioxide emissions of this vehicle make it an embarrassment for its owners.
This is the main reason why they are looking forward to run their Hummer of alternative car fuels to help reduce the amount of CO2 emissions and at the same time save themselves on fuel costs. Though there are special replacement kits available in the market that permits one to run their normal fuel car on biodiesel, the lovers of Hummer cars, especially those that are planning to purchase one in the near future, will be delighted to hear the company manufacturing it has announced the release of a biodiesel version in the near future. Now Hummer owners can stand up proudly and drive their favorite cars in the knowledge that they too are helping to protect the environment and at the same time are also protecting their bank account.
As a step to raise cash, General Motors is in a negotiation with two potential buyers of one of their assets, the Hummer.
The two potential buyers are said to be a known Chinese company and a private-equity firm. They wanted to keep their profile to themselves for now, because the negotiation is taking place, privately.
General Motors, who still hasn’t released their annual profit starting 2004, placed Hummer on sale last June since their sales sank down with the increasing oil prices. The car company’s financial crisis worsened due to the global economic situation presently. This triggered also General Motors to seek federal loans from the US Treasury. They gave out their viability plan to the Treasury Department in order to keep their $9.4 billion US loans and to secure themselves another $4 billion.
According to a source, General Motors is aiming to accumulate $500 million from Hummer.
It is pretty obvious that when you are in Las Vegas, you not only want to make sure that you are getting all of the attention that you deserve, but you want to make sure that you are experiencing the city. Doing Las Vegas High Roller Style! After all, Vegas is one of the best places to be and to be quite frank, what better way to experience this amazing city than in a Hummer rental car?
Not only are Hummers some of the coolest looking trucks in the world, but to be honest, they are also some of the fastest and all around best things to drive. How many times in your life do you get to drive a Hummer? Probably not a lot and that is one of the main reasons why you should definitely take advantage of Vegas and get yourself a Hummer rental car!
Hummers are a once-in-a-lifetime experience and while it is true that you can go and test drive one, wouldn’t it be better to actually feel like you own one? Even it if it just for a few days, feeling like you own a Hummer via renting one is honestly one of the best feelings in the world! Imagine it, you are driving down the strip in a kick butt Hummer rental car and you get all of the attention!
More Las Vegas Exotics are to be found on the web!
As the proud owner of a Hummer car you should know that the insurance costs of cars are dependant more on the build of the car along with the mileage it has covered. This means that if the car is known to be tough and is less prone to get damaged in the wake of an accident, the insurance costs for the same will be lower. Also, the auto insurance charges depend upon the number of kilometers it has been driven. The more you drive a car the more wear and tear it is subjected to. Hence if you have not driven your car too much, you will be able to insure it for charges lower than for cars that have been driven too much. Apart from this there are special agencies that specialize in providing insurance for a particular make of cars.
If you are the owner of a Hummer car, search the net for insurance agents who specialize in Hummers. They are the ones who shall be able to get you the best deal for your Hummer car. This is possible because they deal exclusively in Hummers and know what are the options available to get the best insurance deal for the same. Though the difference might not be much from general car insurance agents, you can be rest assured that you will get specialized insurance coverage for your Hummer vehicle if you get it insured by an agent why just deal in insuring Hummer cars.
There are special kits available in the market that will permit you to convert your Hummer car into one that runs on alternative fuels. Cars that are environment friendly are also referred to as green cars and such cars have a much lower release of CO2 gases than normal cars. Running the cars on alternative fuels like biodiesel arrives at this solution. Owners of Hummer cars are the most worried since this particular car that was once the exclusive property of the American military guzzles a lot of fuel. According to conservative estimates, the Hummer consumes more than 5 times the amount of fuel as compared to ordinary cars. This also translates to 5 times the amount of CO2 emissions as compared to normal cars.
This is the primary reason why owners of Hummer cars are planning to convert their prized vehicle into an environment friendly one. They also know the huge amount of money they will be saving on fuel costs if they run their Hummer on alternative fuels like biodiesel.
Most car owners love to know the history of their cars. They want to know full details about the beginning of their car and who was the founder etc. The proud owners of Hummer cars are no different and they too also want to know about the history of their car. Here is a brief history of the Hummer car for their benefit. Way back in 1979, the American army was on the lookout for an innovative HMMWV (high mobility multipurpose wheeled vehicle). A number of manufacturers competed to achieve this and among them was AM General who created a prototype called the HUMVEE. After extensively testing the same for nearly 50,000 miles it was accepted as the best vehicle for the purpose.
The year 1983 saw AM General being awarded a $1.2 billion contract for manufacturing 55,000 HUMVEES. With this award in hand the production of the HUMVEE started and the vehicle was dubbed with the name HUMMER M998. This car was made solely for the use of the U.S. Army only and they used the same successfully for many years. However, this vehicle was not available for the public in general. It was only in the year 1992 that a special model was introduced in the market just for civilians. Though this car is a known fuel guzzler, many people started purchasing the same, since fuel was not so costly during those days. In recent years a new and green version of this vehicle has been introduced which can run on biodiesel too.