GM studying new offers for Hummer: source

Toyota president to visit China over recall row: report
Tokyo (AFP) Feb 27, 2010 - Toyota president Akio Toyoda will visit China to hold a news conference on the company's massive recall over defective car components, Jiji Press reported Saturday. His news conference in Beijing Monday afternoon is aimed at "sending a direct message from the president to customers in the Chinese market... over the recent quality issues" affecting Toyota vehicles, Jiji reported. Immediate confirmation of the report was not available. Toyoda has just concluded his trip to the United States, where he was grilled by US lawmakers about deadly safety defects that led the Japanese automaker to recall millions of vehicles worldwide. Toyoda, grandson of the company's founder, vowed to take safety "to the next level," during a meeting Thursday with the head of the US Department of Transportation. On Friday, China's product safety watchdog warned drivers of imported Toyotas to have their cars, including the Tundra, Camry and Corolla, checked for possible defects. More than 75,000 Toyota RAV4 sport utility vehicles made in China have been recalled over faulty accelerator pedals.

by Staff Writers
New York (AFP) Feb 26, 2010
General Motors is studying new offers for its Hummer brand of sport utility vehicles, two days after announcing plans to end the brand, a source familiar with the talks said Friday.

The source offered no details on number or identity of interested parties but said there had been "offers" for the brand of military-style vehicles.

Nick Richard, a spokesman for the GM unit, declined to confirm any new offers but said the Detroit firm would consider any new bids despite having announced a wind-down of Hummer operations.

"Typically, as you saw with the Saab deal, when things like that happen you get calls," he said referring to the Swedish brand that was sold after GM had announced plans to discontinue operations.

"We're open to review any offer."

GM said Wednesday a plan to sell Hummer to a Chinese firm could not be finalized.

The move to sell Hummer to the maker of heavy equipment, Sichuan Tengzhong Heavy Industrial Machines Co., was first announced in June as the Detroit auto giant underwent a massive bankruptcy restructuring with support from the US and Canadian governments.

Although GM did not comment on the reasons for scrapping the deal, Tengzhong said Thursday it withdrew the offer because it was "unable to obtain clearance of the transaction from the Chinese regulators within the proposed deal timeframe."

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China pollution concerns dash Hummer deal, analysts say
Shanghai (AFP) Feb 25, 2010
China's environmental concerns have dashed Tengzhong's dream of buying the iconic Hummer brand from General Motors, but the once little-known firm has now made a name for itself, analysts said Thursday. Sichuan Tengzhong Heavy Industrial Machinery, based in southwest China, raised eyebrows when it announced in June last year that it would buy General Motors' world-famous brand of gas-guzzlin ... read more

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