GM To Kill Hummer As China Deal Falls Apart

Posted by Glenn Swanson 0 comments

Hummer Dead 717.jpg

Oh, dang! Think we might have jinxed this one. In a post yesterday about GM's successful completion of the deal to sell Saab to Spyker, we listed a number of the General's early failures to close deals for its other doomed brands. We ended that with what we thought was an innocent: "And who knows what will end up happening with Hummer."

Well, one day later, we know: Hummer is dead. The drawn-out negotiations with the enticingly titled Sichuan Tengzhong Heavy Industrial Machines Co., Ltd.are over. GM said in a statement today that the Chinese company was "unable to complete the acquisition of Hummer," and that it will begin the "orderly wind-down of…operations."  No further details were provided but word is that the deal was finally doomed by the Chinese government.

General Motors pointed out that it will, of course, continue to honor Hummer warranties, providing service and spare parts to current owners.

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