http://cache.jalopnik.com/assets/base/img/thumbs140x140/jalopnik.com.png http://jalopnik.com/tag/hummer for sale http://jalopnik.com/tag/hummer for sale Happy Ending? With China officially getting Hummer from GM, they're now outsourcing to us. More »
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The WSJ reports that Towbin Hummer is the only Hummer dealer in Las Vegas, and one of the brand's biggest franchises in the US — at least it will be until tomorrow, when the dealership shuts its doors for good. While Towbin will be just one of several Hummer dealerships to close this year, it's perhaps the most significant due to its location and place on the sales charts. After all, when you stake your claim on being the biggest and the baddest, and Vegas rejects you, you've probably hit the end of the line. But the Towbin dealership closure isn't just a bust for owner and self-described Hummer aficionado Dan Towbin; it's a big problem for GM too. (UPDATED: The initial WSJ article contained some inaccuracies; this post has been edited to reflect the correct information.) More »
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Automotive News reports that GM President and Chief Operating Officer Fritz Henderson told reporters at a recent press conference in India that the sale of the Hummer brand is on an "urgent basis." That's no surprise, since General Motors is predicting a US vehicle market of around 14 million units for 2008, down from 16 million units last year. Why the statement was made in India, we have no idea, since Mahindra has denied interest in buying Hummer. Perhaps Tata could still be thinking about a purchase? [via Automotive News, Sub. Req.] More »
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China Car Times offers more details on our earlier report that no company seems to want a Hummer from GM, giving us the low-down on insider reasons why Changfeng's in denial. The Chinese automaker was apparently interested enough — and GM open enough — to visit the Hummer production facilities, but subsequently determined the hulking SUV's "gasoline consumption was too high" for Chinese customers. China's new tax on large vehicles, particularly imports, would have further weakened demand, adding as much as 30% to the retail price of a Hummer. CCT closes with a mutually beneficial recommendation for the General: More »
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A new report in the Detroit News states that, while the automaker has received a number of inquiries about the brand, General Motors has neither solicited offers for Hummer nor engaged in discussions with potential buyers. GM is trying to downplay recent reports of interest in Hummer by Russian businessman Oleg Deripaska (now denied by Deripaska), and India's Mahindra & Mahindra. Although General Motors has said it's working on a "strategic review" of the Hummer brand that could lead to a sale, the automaker insists its current focus is on aiding dealer profitability on a case-by-case basis; considering that dealers sold an average of 11 Hummers each last month, that's probably a good place to focus. [Detroit News] More »
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Automotive News reports that General Motors is bribing incentivizing moribund Hummer dealers by prepaying them second- and third-quarter bonuses based upon 2007 sales. The company is also reportedly talking to many dealer principals behind-the-scenes about buyout options, attempting to smooth the transition to a brand sale or closure and avoid some of the expensive legal issues that plagued its Oldsmobile shutdown. Dealers could use all the help they can get: Hummer sales plummeted nearly 60% in June, compared with a year earlier. More »
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With sales in the toilet, GM plans to offer 0% financing for up to 72 months starting tomorrow and running through next Monday. The special Hail Mary offer will be valid on approximately 80% of the automaker's unsold inventory, and is a last-ditch effort to show at least passable June sales. And, to ensure GM has to repeat this profit-draining stunt next year, the company will raise the prices for most of its 2009 models by approximately 3.5%. Maybe that ZR1 price gouging was just a sign of things to come? Oh, but there's more. More »
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More evidence is emerging that GM is moving quickly to solve its Hummer problem. The Detroit Free Press reports today on John Voss, a Dayton-area dealer who purchased a Hummer franchise in April, who says that GM offered to refund his money. "They have three choices and they said they want to make this decision very quickly," Voss said. "They are either going to make a smaller Hummer hybrid and change the H2, close the brand or sell it." Given the lead time needed to create a Hummer hybrid or impose radical changes to the H2 and the implications of closing the brand, a sale still seems to be the most practical option for GM. More »
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Mark Phelan, columnist for the Detroit Free Press, today argues both sides of the "should Hummer stay or should it go?" coin. On one hand, Hummer's gas-sucking asshole image isn't doing GM any favors, and poor sales numbers make the abuse harder to absorb. On the other hand, Hummers are truly capable vehicles with a rabid (if shrinking) fan base. Then there's the issue of Hummer dealers getting all sue-happy if GM shut the brand down. There still seems to be a logical option, however. More »
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The times, they are a changin', and this week GM Chairman and Chieftain Rick Wagoner seems to have noticed. Wagoner announced a "strategic review of our Hummer brand," yesterday. Translation: "Anyone want to buy Hummer? Anyone? C'mon...cheap! Cerberus, I'm lookin' at you." Also included in the statement was news that four truck plants will be making the ultimate sacrifice: Moraine, Ohio; Janesville, Wisconsin; Toluca, Mexico; and Oshawa, Ontario. More »
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