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Tata or Mahindra to buy HUMMER?

 
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Plex
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PostPosted: Mon Jun 09, 2008 11:31 am    Post subject: Tata or Mahindra to buy HUMMER? Reply with quote



Casualties of war, a name given to those left behind in battle, nowadays referring more to innocent bystanders than combat soldiers. In these times of war against emissions, carbon dioxide and chokingly high oil prices, casualties may be left behind. The first of these could be HUMMER, General Motors� gasoline sandpit on four wheels. Following GM�s statements earlier this week that it is reviewing its HUMMER brand on a strategic basis �from a complete revamp of the product line up to a complete sale of the brand�, news is now out that Tata or Mahindra could be buying HUMMER, although both have refused to comment. Tata recently turned the tables on its former coloniser the United Kingdom as it bought two of its most iconic brands Land Rover and Jaguar in an historic cash deal.

Bankers representing both Indian brands have been said to be meeting with GM executives to discuss the possible disposal of HUMMER to their clients. HUMMER dropped sales 35 percent so far this year, surpassing the 25 percent drop it experienced in 2007. In layman�s terms, the brand is bleeding. Cars like the Chevrolet Volt point to the future of GM as it revamps its entire fleet into a gas-saving futuristic lineup of clean cars that even Al Gore can endorse. HUMMER doesn�t seem to fit this bill and so this so-called strategic review is expected to go one way only.

Worldcarfans
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MG Man
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PostPosted: Tue Jun 10, 2008 6:07 am    Post subject: Reply with quote

TAMMER or MAHINNER?
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Plex
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PostPosted: Tue Jun 24, 2008 5:10 am    Post subject: Reply with quote

GM hires Citibank to advise on possible Hummer sale

Just a few weeks after announcing a major corporate restructuring program and the possible sale or complete reorganization of the Hummer brand, General Motors has hired mega-finance corporation Citibank to explore all of the options available in dealing with the sales-doomed SUV marque.

Climbing fuel prices has set off a switch to more fuel-efficient cars in the U.S., with May sales especially reflecting the impact on SUV sales. Hummer brand vehicles sold 62% fewer vehicles in May 2008 than they did the year before, and sales are down 36% through the first five months of the year. Hiring Citibank may indicate GM is seriously considering a sale of the brand. The move was announced in a conference call with dealers today, reports the Detroit Free Press.

Some of those dealers recently expressed their displeasure with the public way GM has chosen to handle the tough times at Hummer, arguing that airing the nameplate�s dirty laundry won�t help it weather the short term. Whether the brand can survive in the long term will depend on its ability to adapt to the changes facing the industry as a whole.

Motorauthority
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Plex
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PostPosted: Sat Aug 02, 2008 7:08 am    Post subject: Reply with quote



GM in talks with Indian, Chinese and Russian firms over Hummer sale

Less than two months after General Motors first announced that its Hummer brand was up for review, reports have emerged claiming the U.S. carmaker is in talks with firms based in India, China and Russia. India�s Mahindra & Mahindra (M&M), which has previously expressed interest in developing more SUV models, was reported within days after the original review announcement to be interested in acquiring Hummer, but people close to the matter claim M&M is more concerned about launching its own range of SUVs in the U.S. market.

While this is likely true (M&M has already signed up 300 dealers in North America to sell its own SUV models), M&M was also one of the first bidders interested in acquiring Britain�s Land Rover but lost out to rival Indian carmaker Tata Motors.

GM, meanwhile, has hired a number of consultants and investment bankers to review the Chinese and Russian markets for potential buyers for the carmaker�s assets, one of the sources told Reuters reporters. However, the source did not reveal which Russian and Chinese firms GM was talking with.

One of the major problems with Hummer is the massive amount of cash the brand needs to turn around its fortunes. Hurt by record fuel prices and changing demand for �greener� vehicles, Hummer�s U.S. sales have fallen more than 40% in the past six months. While demand for Hummer may be down in the U.S., the brand has a strong following in emerging markets such as Russia and China. Some of the other parties rumoured to be interested in acquiring Hummer include Russian billionaire Oleg Deripaska, who controls GAZ, Russia�s second-largest automaker, Shanghai Auto, Chery and Geely Auto.

Motorauthority
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Plex
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PostPosted: Tue Aug 26, 2008 6:24 pm    Post subject: Reply with quote



Arab investors interested in acquiring Hummer

Despite continual denials from General Motors that any official talks over the sale of Hummer have even taken place, a new report claims that investors in the Middle East are now interested in acquiring the ailing brand. Hummer�s Middle East chief has revealed that at least two separate investors from the Gulf Arab region have expressed their desire in the brand.

Hummer was previously reported to be in talks with several Indian, Chinese and Russian investors, but in an interview with Reuters GM�s Middle East managing director Terry Johnsson said �for sure, there has been interest from various parties within the Gulf. There is a precedent in the cases of Aston Martin, Ferrari or Daimler and those kinds of solutions could be very realistic solutions.�

Johnsson also revealed that an actual sale of Hummer was not the only solution, and that the brand could be kept. During GM�s original restructuring announcement, CEO Rick Wagoner said that Hummer was only under review and never confirmed that it would be sold. One of the major problems with offloading Hummer is the backlash GM would encounter from the hundreds of private dealers that have invested in the brand, which could end up costing GM hundreds of millions of dollars in lawsuits.

Motorauthority
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MG Man
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PostPosted: Wed Aug 27, 2008 5:54 am    Post subject: Reply with quote

THey should sell the brand to Pdiddy
They would call it the Hiddy
ah the possibilities
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Plex
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PostPosted: Fri Sep 26, 2008 6:33 am    Post subject: Reply with quote

GM confirms sale of Hummer

After the reports from Fritz Henderson, Chief Operating Manager GM regarding the future of Hummer, any doubts about whether the brand will be sold or not will come to nothing: it�s now only a question of time.

General Motors has held a press conference in which it revealed the necessary financial restructure of the company, one of the measures of which will be the sale of the Hummer brand. Group treasurer Walter Borst, revealed that cost cutting will need to be anywhere up to 10 billion dollars - a hard goal to achieve when most of the measures are going to be painful ones.

The decision to forego buying advertising space at the next Super Bowl, for example, says it loud and clear - this could be a historic period for General Motors. The decision to not advertise however, saves only four billion dollars. For the next six, GM has entrusted the strategy to an external consulting agency that will take on the responsibility of finding savings in these last months of 2008.

Eurocarblog
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Plex
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PostPosted: Fri Oct 09, 2009 4:14 pm    Post subject: Reply with quote

Hummer sold to Sichuan Tengzhong

General Motors Co. completed the deal to sell Hummer to China’s Sichuan Tengzhong Heavy Industrial Machinery Co. for about $150 million today. This move is in line with its restructuring plan to cut its US brand count in half.

We received this update from Bloomberg News, which cites no less than three unnamed sources. We’ve gotten a whiff of this development last June when GM said that it expected to sell Hummer to the Chinese heavy machinery maker, which has not had any experience in the auto industry. Hummer had so far given no comments. In documents filed in the summer of 2008 during the automaker’s 39-day bankruptcy, CEO Fritz Henderson estimated that the sale of Hummer “might realize $500 million or more.”

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