Tags: Hummer View |
Tags: Hummer View |
Tags: Hummer View |
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Hummer was a marque of trucks sold by General Motors. The HUMMER brand was not transferred to Motors Liquidation Company as part of the GM bankruptcy. Instead, this brand was retained by GM in order to investigate selling the brand. The original Hummer H1 was based on the military High Mobility Multipurpose Wheeled Vehicle (HMMWV, or Humvee). However, the Hummer H2 and the Hummer H3 were based on other, smaller civilian-market vehicles.
Chinese automaker Sichuan Tengzhong Heavy Industrial Machinery Company (Tengzhong) announced in 2009 that it would acquire the Hummer brand pending government approvals. However, the Ministry of Commerce of the Peoples Republic of China rejected the deal on 24 February 2010, and GM has decided to retire the brand. There were reports that Sichuan Tengzhong may pursue the purchase of the Hummer brand from GM by purchasing it privately through the companys new J&A Tengzhong Fund SPC, a private equity investment fund owned by an offshore entity that was recruiting private investors to buy into its acquisition plan. The financial markets posed problems for established borrowers and even more for Tengzhong, a little-known company from western China, at the same time as the potential value of the Hummer brand continued to decline given high fuel prices and weak consumer demand.
At the end of February 2010, General Motors announced that the company would begin dismantling the Hummer brand. Two days later, the automaker announced it had been approached with new offers for the brand after the deal with Sichuan Tengzhong could not be completed. However, by April 2010, any sale of the brand became unlikely as inventory depleted and dealerships began shutting down. After filling a rental car fleet order, the Last Hummer H3 rolled off line at Shreveport on 24 May 2010.
Company Name: Hummer
Company Logo: File:Hummer wordmark.svg
Type: Division (Division (organization))
Fate: Process of liquidation
Foundation: 1992
Defunct: 2010
Birth Location: Detroit, Michigan, United States
Industry: Automotive (Automotive industry)
Products: (H1 (Hummer H1)) pickup truck, SUV (H2 (Hummer H2), H3 (Hummer H3)), Sport utility vehicles
Parent: General Motors