After an unsuccessful attempt to sell the HUMMER brand to China’s Sichuan Tengzhong, General Motors announced today that it will begin an “orderly wind-down of HUMMER operations.”
“One year ago, General Motors announced that we were going to divest HUMMER as part of focusing our efforts on Chevrolet, Buick, GMC and Cadillac going forward. We have since considered a number of possibilities for HUMMER and are disappointed that the deal with Tengzhong could not be completed,” said John Smith GM vice president of corporate planning and alliances. “GM will now work closely with HUMMER employees, dealers and suppliers to wind down the business in an orderly and responsible manner.”
While some may hold out and hope for a similar result that SAAB had (after announcing a shut down a last minute deal was approved for the Swedish brand) — HUMMER owners may not want to hold their breath.
Yesterday, news reports were indicating that there were obstacles in the approval process but offered no official statements from GM, Tengzhong, or the Chinese government. Today, it looks like the official statement has been made.
More in-depth analysis coming soon.
Yeah, and that obstacle is our magical Kenyan. But don’t feel singled out, Hummer-lovers, Obama is f**king things up all over this great country.
But I said this from the beginning – the Chinese were just posturing. They were only pretending to be interested so that they could get their street creds up. LOL, idiots. Now why doesn’t the secret American group step in now and buy Hummer for pennies on the dollar?
and F**K GENERAL MOTORS!
I would rather see Hummers be GMC’s or Chevy’s. The name is not the truck. That way there is a much better dealer network.
If GM simply stops making Hummer type vehicles, we go back to Jeeps and Toyotas. It’s GM’s call but given Toyota’s woes, this is a great time to solidfy a market that Toyota has dominated since the 80’s.
If I remember correctly gas prices were over $4.00 a gallon and GM was failing before Obama took office. This was poor management by GM. It is sad that so many American workers are going to lose their jobs. Blame speculators who drove up oil prices for the mess we are in today.
So sad! I wish I had $150 million to save this great brand.
Oh My God