Hummer has received a temporary stay of execution, or at least the 153 remaining Hummer dealers have, as General Motors has extended their franchise agreements for another 60 days, Automotive News reports. The reason? More offers have come in, it seems, since the deal with Sichuan Tengzhong Heavy Industrial Machines Co., Ltd. collapsed early this week.

The Hummer leadership now has until May 1 to find a buyer for Hummer, or portions of it.

"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," Hummer CEO Jim Taylor told AN. "Some are well-known equity houses, who do this for a living. Some are just those who say, 'I want to buy it.'"

Reuters is reporting that four more Chinese manufacturers have entered a bid. None are mainstream automakers, say sources close to GM, and none are likely to be interested in buying all of Hummer. Instead, they might be interested in only tooling and equipment from the brand's Shreveport, Louisiana, production plant.

Still, nothing's a sure bet, as the Tengzhong deal is thought to have fallen apart due to objections from the Chinese government, and other companies may be loath to challenge the government. In addition, Hummer's product portfolio really isn't any better a fit for the Chinese market than it was for the United States.

Automotive News

Reuters