|
|
02-24-2010, 10:08 PM
|
#1
|
|
Ratchet meets his end
The economy does what Megatron couldn't.
Quote:
GM to end Hummer after Chinese sale collapses
General Motors (GM) is to wind down operations of its Hummer vehicles - after failing to complete a planned takeover by a Chinese firm.
GM did not comment on why the sale to China-based Tengzhong had collapsed. Reports have said Beijing had refused to approve the purchase. GM agreed to sell the brand last year, as it offloaded famous names it owned and went into bankruptcy protection.
It said it was "disappointed" the deal could not be completed.
"GM will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner," said John Smith, vice-president of corporate planning and alliances. The firm added it would continue to honour Hummer warranties, and provide service support and spare parts to current owners around the world.
Waning popularity
GM emerged from Chapter 11 in July last year, announcing that it would discontinue the Pontiac and Saturn, and saying it would sell Swedish brand Saab and its European operations, Opel. It eventually decided to keep Opel - which includes UK brand Vauxhall - and sell Saab to Dutch carmaker Spyker.
Hummers were originally built as military off-road vehicles by a company called AM General. The brand took off as US motorists flocked to the sport utility vehicles favoured by celebrities including Arnold Schwarzenegger. GM bought the Hummer brand in 1999, but sales have suffered recently as the gas-guzzling performance and military image have become less popular.
Hummers weigh up to five tonnes and have fuel consumption of about 15 miles per gallon.
Tengzhong - which is based in China's Sichuan province - specialises in making equipment for the road, construction and energy industries. Under the terms of the original deal, Tengzhong was going to take an 80% stake in Hummer, with the remaining 20% going to Hong Kong entrepreneur Suolong Duoji. The company had also said it would be focusing on improving efficiency in Hummer models, including the introduction of diesel engines.
|
__________________
|
|
|
02-24-2010, 10:42 PM
|
#2
|
|
Re: Ratchet meets his end
Meh, it had a good run.
|
|
|
02-24-2010, 10:43 PM
|
#3
|
|
Re: Ratchet meets his end
So Ratchet AND Ironhide are done. Hmmm...
So shoulda killed Ironhide and saved Jazz in movie 1.
|
|
|
02-24-2010, 10:48 PM
|
#4
|
|
Re: Ratchet meets his end
AND Ironhide? Where did it say GMC was closing?
Besides Jazz is more dead then Ironhide, because Pontiac has also ended....shame really, there were talks of keeping it just for sports cars (which I'd have cheered for) but closing the line completely was more cost effective it seemed.
__________________
" I can't deal with that right now!"
Canadian Slag ...it's a podcast. About robits. Listen to it...cuz you can't watch it.
|
|
|
02-24-2010, 10:50 PM
|
#5
|
Location: Keswick, Ontario
|
Re: Ratchet meets his end
Quote:
Originally Posted by joshimus
So Ratchet AND Ironhide are done. Hmmm...
So shoulda killed Ironhide and saved Jazz in movie 1.
|
lol ummm...Pontiac's gone too man xD
|
|
|
02-24-2010, 11:11 PM
|
#6
|
|
Re: Ratchet meets his end
GMC's not closing, they just killed the Topkick.
|
|
|
02-24-2010, 11:16 PM
|
#7
|
|
Re: Ratchet meets his end
That was going before all this going bankrupt BS popped up.
__________________
" I can't deal with that right now!"
Canadian Slag ...it's a podcast. About robits. Listen to it...cuz you can't watch it.
|
|
|
02-24-2010, 11:18 PM
|
#8
|
Location: The Ark In Emergency Stasis
|
Re: Ratchet meets his end
Someone is going to come down with a sudden case of Dying Ratchet Syndrome in movie 3 I think.
__________________
TFcon's Script Reading Author
Okay, I feel like you?re referencing something, and I don?t get it, and that?s not fair.
|
|
|
02-24-2010, 11:29 PM
|
#9
|
|
Re: Ratchet meets his end
More like new body. Come on, you know you wanna.
|
|
|
02-24-2010, 11:35 PM
|
#10
|
|
Re: Ratchet meets his end
YAY!
__________________
"Actual change time may vary."
|
|
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
Donate to Cybertron.ca |
Donations keep this site running, thanks for your support. More details here.
|
|