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.