If this happens I'll never buy another GM car again.

http://www.edmunds.com/insideline/do/News/articleId=137027?mktcat=enabler&AID=10364102&PID=3193616&kw=N&synpartner=edmunds&mktid=cj260233

Is a Chinese Company Preparing to Buy General Motors?

SHANGHAI, China — Shanghai Automotive Industry Corp. (SAIC) has been persistently reported to be interested in buying General Motors. This week, the company denied to Chinese media that it is considering such a move. SAIC and China's Dongfeng Motor have both been named as prospective buyers of GM as the former global superpower struggles to remain afloat.

Hu Xindong, a spokesman of Hong Kong-listed Dongfeng, declined to comment yesterday. But he earlier said the nation's third-biggest carmaker has been contacted by financial groups which have close relationships with GM over a possible takeover, according to National Business Daily.

Although Chinese carmakers are eager to expand overseas, analysts are saying they are still not financially capable of such a large project as a purchase of GM.

Wang Liusheng, an auto analyst at China Merchants Securities Co, commented: "Besides liquidity constraints, it is also impossible for Chinese carmakers to handle GM's huge costs of compensating workers and any other follow-up expenditure."

But other analysts also said there could be opportunities for Chinese carmakers to buy some assets, especially in technological areas, from GM.

Meanwhile, it is an interesting question whether the financially strapped U.S. company will continue with its own expansion in China, now the world's second-largest car market.

Ding Lei, general manager of GM's flagship venture in China, Shanghai General Motors, said the China market will remain "the top priority for future development" and predicted "There won't be changes in GM's investment in China." Ding noted that although GM is shedding brands and closing plants in the U.S. market, business in Latin America and Asia remains healthy.

Although the stocks slump and a slowing economy in China is also hitting demand for vehicles, the 11 percent sales increase for the first 10 months is of the world's best.

In China, GM is also facing challenges with declining market share and sluggish sales, despite new models like the Buick Excelle and the Chevrolet Aveo compact car. Nevertheless, the company is boosting production at its new plant in Shenyang to 150,000 units per year.

Shanghai GM this week launched a revamped Buick Regal sedan in Shenzhen, as part of its efforts to upgrade products to win back Chinese customers who have been buying more cars from Volkswagen and Toyota. Next year, the Chevrolet Cruze mid-class sedan will also begin domestic sales ahead of another 10 new models for the Asia-Pacific region by 2010, according to Ding.

Please God, don't let it be that we've come to this. Please.

I don't think it will go down this way, but GM would be off my list as well. My family has been primarily a GM family since before I was born. I worked for GM for many years.

I'm already sick about the state of affairs the domestic auto industry is facing right now. If it becomes a Chinese company... :cry:

I will not buy a car from a Chinese owned company. If some day, every car company in the world become Chinese owned companies, I will only buy used cars.

China's already funding our deficits because we'd rather pay China intrest and give them influence on our policies than to simply pay our own way through taxes and actually save ourselves billions if not trillions of dollars.

Our refusal to deal with reality has resulted in the country being beholden to China, so, I don't see what the issue of just GM being partially or entirely bought by them is.

I think if everyone took a look around their homes you'd find more Chinese products than one might be comfortable with.

China's already funding our deficits because we'd rather pay China intrest and give them influence on our policies than to simply pay our own way through taxes and actually save ourselves billions if not trillions of dollars.

Our refusal to deal with reality has resulted in the country being beholden to China, so, I don't see what the issue of just GM being partially or entirely bought by them is.

I think if everyone took a look around their homes you'd find more Chinese products than one might be comfortable with.


I realize that almost everything comes from China these days, but i must draw a line somewhere. I don't like the Equinox because of the source of it's engine, either.

I realize that almost everything comes from China these days, but i must draw a line somewhere. I don't like the Equinox because of the source of it's engine, either.

So, from an automotive standpoint, you're racist! :lol:

China's already funding our deficits because we'd rather pay China intrest and give them influence on our policies than to simply pay our own way through taxes and actually save ourselves billions if not trillions of dollars.

Our refusal to deal with reality has resulted in the country being beholden to China, so, I don't see what the issue of just GM being partially or entirely bought by them is.

I think if everyone took a look around their homes you'd find more Chinese products than one might be comfortable with.

You know, this is a double edged sword for China. Thousands of businesses have started up in China, which essentially make no profit after paying salaries and government supported bank loans. This was a happy model in China, since previous to this they had dirt. As the US economy slows, we buy less stuff from China. All of these marginal Chinese companies start to fail. If they fail, MILLIONS of Chinese lose their ability to make a living. And I don't just mean they risk losing health benefits or 401K - I mean they lose the ability to feed themselves and their families.

If the US economy doesn't turn around, the results on the Chinese economy - even it's society - will be massive. The Chinese government will need to subsidize all of these failing companies or risk the unrest of millions of starving citizens.

I think you will start to see a lot of US businesses being bought by Chinese companies. They already have a huge stake in our country with all of the loans. GM would be a good buy for them, especially since their cars are so popular in China.

I think you will start to see a lot of US businesses being bought by Chinese companies. They already have a huge stake in our country with all of the loans. GM would be a good buy for them, especially since their cars are so popular in China.

Given GM's technologies not to mention GM's access to the US and global markets (or the near non-existant net value of GM at the moment), it would be a steal for a Chinese company... or even China... to buy GM or large parts of it.

It's an interesting idea and technically several large automakers have the funds to "buy" GM but none of them want the red tape, pension and healthcare obligations that go along with that purchase.

I think I'd rather see GM go 100% out of business than have them be owned by China.

I think I'd rather see GM go 100% out of business than have them be owned by China.At the rate we're going it won't be long before the entire USofA is owned by China. :p

This has been going on for the past month. I think China will buy GM if GM does not get a loan soon.

Anyone buying GM stock?

This has been going on for the past month. I think China will buy GM if GM does not get a loan soon.

Anyone buying GM stock?

It'll never happen, for so many reasons. It's possible that a Chinese firm may buy up the assets of a brand though.

This has been going on for the past month. I think China will buy GM if GM does not get a loan soon.Reading the article above, it doesn't appear that SAIC has the financial means to purchase GM unless they get support from the Chinese government. IMO, a complete sell-off of GM could only happen if they are forced to file for bankruptcy protection. I don't see that happening at this point because based on what I've read from today's hearings it sounds like the government is now saying that a loop-hole would allow the auto industry to qualify for a loan under TARP.

They're going to get the loans, the government just wants to make them sweat a little and make concessions to improve their chances of recovering and paying back the loans sooner.

Anyone buying GM stock?I'd consider it if I knew GM wasn't going to file for bankrupcty. Ford is a better buy at this point IMO.

I'd never buy another GM car again if GM gets bought by China.

As i've said before, it's like GM is a wounded soldier being hauled off as a POW by Chinese interrogators. I'd rather see GM dead than suffer through torture.

Looks like either GM needs to drag itself out of this bloody mess, or the government might send in the Black Suburbans for a rescue operation. But to let GM go to China = :no:

I don't recall such an outcry when Chrysler was bought by Germans....:think:......Just sayin...

I don't recall such an outcry when Chrysler was bought by Germans....:think:......Just sayin...

then you must not hang out with mopar fans.. cause every mopar fanboy i know, was not only upset, but just as upset as much or more than folks here are over the prospect of china buying gm.

I don't recall such an outcry when Chrysler was bought by Germans....:think:......Just sayin...

Merger of equals remember :p

Plus many knew Chrysler would be getting trickle down RWD and transmission tech from a company with better product.

I don't recall such an outcry when Chrysler was bought by Germans....:think:......Just sayin...

Germany isn't a communist nation with a plethora of human rights violations, either...

fake edit:

Well, no human rights issues recently, anyways

Such Chinese hate


I don't know. I appreciate some USA pride in something that is ours but i don't threaten to not buy cars of my choice due to country of origin. Heck, this wouldn't even mean the car isn't made in the US by US hands.

Daimler buys Chrysler, most of the great american companies are global and international, whats the problem.


in one breath we are worried about the failing "big three", then when the possible savior is foreign people freak.

I hate communists, think they suck at making toys but if they want to invest in our auto industry then fine. Take the money and lets fix the problems.

How about Toyota buys GM and VW buys Chrysler? :think:

At the rate we're going it won't be long before the entire USofA is owned by China. :p

I can't argue with that, I agree. And we'll have ourselves to blame too!

Such Chinese hate


I don't know. I appreciate some USA pride in something that is ours but i don't threaten to not buy cars of my choice due to country of origin. Heck, this wouldn't even mean the car isn't made in the US by US hands.

Daimler buys Chrysler, most of the great american companies are global and international, whats the problem.


in one breath we are worried about the failing "big three", then when the possible savior is foreign people freak.

I hate communists, think they suck at making toys but if they want to invest in our auto industry then fine. Take the money and lets fix the problems.

Not really hate for China, It's more like a love for our country! For me anyway, IF any company outside the US buys up the industry, I would never buy a new car. I'd just drive used GM's like I always did, and they've been dam good to me!

How about Toyota buys GM and VW buys Chrysler? :think:

VW only borrowed a van from Chrysler, to which VW fans more true than I are snubbing their noses. Good news for Chrysler, it might help sell more vans. But I don't think VW wants the Chrysler poodle in its lap, especially not when Porsche is taking over.

Debt Slavery and loss of national wealth is what I'm more worried about.

10 years ago if you told me that a then 3rd world country was going to buy Americans largest company I would have laughed.