Category Archives: Economy

Chinese Company Said to Be Buyer of Hummer

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General Motors has reached a preliminary agreement for the sale of its Hummer brand of large sport utility vehicles and pickup trucks to a machinery company in western China with ambitions to become a carmaker, a person familiar with the Chinese government approval process said Tuesday.

If the purchase is completed, it would mark the first acquisition of a well-known American automotive brand by a Chinese company. Chinese automakers have already purchased the MG and Rover brands, two of the most famous names in British automotive history.

[Read](http://www.nytimes.com/2009/06/03/business/03auto.html?_r=1&ref=business “Read the Article”) (New York Times)

As Detroit Crumbles, China Emerges as Auto Epicenter

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America’s auto titans are dismantling their global empires. But across the Pacific, it’s as if the global economic forces that have pummeled Detroit never struck. Chinese auto sales are up, and this year China is projected to displace Japan as the world’s largest car producer.

Now, the auto world is buzzing that China’s auto industry may try to pick up the pieces of Detroit — at a bargain.

“When we look back 20 years from now, the year 2009 is likely to be viewed as the year in which the baton of leadership in the global auto industry passed from the United States to China,” Jack Perkowski, a Western transplant and former chairman of a Beijing auto parts company, wrote in his blog “Managing the Dragon.”

[Read](http://www.washingtonpost.com/wp-dyn/content/article/2009/05/17/AR2009051702269.html?wprss=rss_nation “Read the Article”) (Washington Post)