“I call it very fast speed dating. We have to look at each other, see if we like each other and then get it done very quickly,” HUMMER CEO Jim Taylor told Automotive News regarding their search to find a buyer for the brand. The original plan to sell HUMMER to China’s Tengzhong fell through Wednesday after Chinese regulatory officials refused to allow the purchase, leaving GM with the task of finding a new buyer in the next 60 to 75 days.
“The next step in the process is to sit down with those interested parties and figure out who is serious and who just doesn’t make any sense,” Taylor said. “Some are well-known equity houses, who do this for a living. Some are just those who say, ‘I want to buy it.’”
Taylor added that his team is, “going to do everything in our power to bring this home in the next couple of months,” assuring that the fight is not over yet.
During the process, Taylor says he won’t forget about the dealers – who he says is one of the strongest assets HUMMER has. Only 10 dealerships have closed since the announcement of the HUMMER brand going under review in 2008 according to Taylor, and he intends to keep the remaining dealers in the loop by providing a weekly update.
“We’ve been very fortunate that almost through two years, dealers have hung in with us,” Taylor said. “It’s vital to the sale”