HUMMER CEO Confirms $150 Million Price Tag

HUMMER CEO Jim Taylor was in China recently where he did a TV interview with CCTV, and according to the report, Taylor said that the price of the purchase is around $150 million, making it the first time anyone official from GM or Tengzhong has mentioned dollar amounts.

When asked why the brand wasn’t sold for more, Taylor said that the figure was probably due to GM’s bankruptcy and the overall global economy. Taylor also reminded the reporters that HUMMER as a brand was still in the black, and has both short-term and long-term potential.

Along with the roughly $150 million cash transfer, Tengzhong will also take on the dealer and warranty responsibility of the brand, and will likely invest another $800 million to $2 billion in HUMMER.

Source:CCTV