According to People’s Daily, Shanghai Hummer retailers have reacted quickly to the Hummer-Tengzhong cancellation news, deciding to raise the prices of the remaining Hummer models on their stock. A Hummer H3X produced last year now retails for an extra $2,930, while a H2’s price is expected to surge by $14,650.
"Our Hummer is directly imported from abroad through formal channels, and the sales and after-sales service will not be affected by Tangzhong's failed acquisition," a Hummer dealer told Shanghai Morning Post.
Customers who want to buy a H3X now have to pay almost $110,000, in Beijing and other cities under the Chinese Stage IV Emissions Standard, and around $107,000 in the cities that are not targeted by the emissions regulation.
The Hummer H2 is expected to reach a price of approximately $202,000. "Our boss said the price of the Hummer H2, now only one car available, will increase by at least 100,000 yuan to 1.38 million yuan," said the aforementioned dealer. He added that, as GM will shut the Hummer brand down, there will be a limited stock of cars available.
Media reports indicate that China’s government denied Tengzhong’s application as the company did not provide a feasible plan for the operation. Earlier reports showed that Hummer’s gas guzzler image contradicted the current Chinese automotive policies, which focus on the protection of the environment.
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