Following its bankruptcy filing on Monday, General Motors has announced plans to reinvent itself by concentrating on fewer brands. The first brand that has been sacrificed in accordance to the new direction is Hummer.
The military-inspired vehicle, once popular with celebrities, sports personalities and affluent individuals, has found itself in the last year facing dwindling demand for its rugged looks and unquenchable thirst for petrol. And it is that thirst for petrol that has thrown the brand into plunging sales figures, at a time when high petrol prices, global warming and the economic recession are.
Sichuan Tengzhong Industrial Machinery, one of China's major privately owned engineering companies, is a manufacturer of heavy machinery equipment with a presence in special-use vehicles, construction and energy equipment.
"We plan to ™ allow Hummer to innovate and grow in exciting new ways under the leadership and continuity of its current management team," said Yang Yi, chief executive of Tengzhong.
Yang said the deal "will allow Hummer to better meet demand for new products such as more fuel-efficient vehicles in the U.S."
The same obviously will not affect the US army's fleet of Hummer's since AM General, the private company that GM bought the Hummer brand from, are still producing those military spec vehicle.
General Motors are singling out its other brands like Pontiac, Saturn and Saab that might be facing the axe soon.
The military-inspired vehicle, once popular with celebrities, sports personalities and affluent individuals, has found itself in the last year facing dwindling demand for its rugged looks and unquenchable thirst for petrol. And it is that thirst for petrol that has thrown the brand into plunging sales figures, at a time when high petrol prices, global warming and the economic recession are.
Sichuan Tengzhong Industrial Machinery, one of China's major privately owned engineering companies, is a manufacturer of heavy machinery equipment with a presence in special-use vehicles, construction and energy equipment.
"We plan to ™ allow Hummer to innovate and grow in exciting new ways under the leadership and continuity of its current management team," said Yang Yi, chief executive of Tengzhong.
Yang said the deal "will allow Hummer to better meet demand for new products such as more fuel-efficient vehicles in the U.S."
The same obviously will not affect the US army's fleet of Hummer's since AM General, the private company that GM bought the Hummer brand from, are still producing those military spec vehicle.
General Motors are singling out its other brands like Pontiac, Saturn and Saab that might be facing the axe soon.
