Comments on: GM Finds Buyer For Hummer http://www.automoblog.net/2009/06/02/gm-finds-buyer-for-hummer/ A Car Blog for Auto Enthusiasts Wed, 23 May 2012 19:08:01 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: zach schumack http://www.automoblog.net/2009/06/02/gm-finds-buyer-for-hummer/comment-page-1/#comment-85882 zach schumack Fri, 05 Jun 2009 18:21:16 +0000 http://www.automoblog.net/2009/06/02/gm-finds-buyer-for-hummer/#comment-85882 Sichuan Tengzhong Heavy Industrial Machinery Co. is the company that put the bid in for Hummer. Now before everyone gets all excited about this story the hummer brand runs contrary to China\'s attempt at developing a globally competitive auto industry by focusing on fuel-efficient vehicles, according to analysts. The government also wants to pare the nation\'s more than 100 automakers to ease competition. \"A new entrant in the car industry is not something they\'re looking to see,\" said Chip Chaikin, who helps oversee $800 million as managing director of Shanghai-based Blue Point Capital Partners Asia. \"It\'s pretty unlikely\" the deal will go through. With the sales falling through the floor for hummer, a terrible fuel efficiency platform, and the need to get capitol to set up warehouses and re-tool the machinery, it seems unlikely that the state run Sichuan Tengzhong company will be able to convince government officials that there will be a clear ROI for the company and for China in general. Sichuan Tengzhong Heavy Industrial Machinery Co. is the company that put the bid in for Hummer. Now before everyone gets all excited about this story the hummer brand runs contrary to China\’s attempt at developing a globally competitive auto industry by focusing on fuel-efficient vehicles, according to analysts. The government also wants to pare the nation\’s more than 100 automakers to ease competition.

\”A new entrant in the car industry is not something they\’re looking to see,\” said Chip Chaikin, who helps oversee $800 million as managing director of Shanghai-based Blue Point Capital Partners Asia. \”It\’s pretty unlikely\” the deal will go through.

With the sales falling through the floor for hummer, a terrible fuel efficiency platform, and the need to get capitol to set up warehouses and re-tool the machinery, it seems unlikely that the state run Sichuan Tengzhong company will be able to convince government officials that there will be a clear ROI for the company and for China in general.

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