Hummer Sale Falls Apart, Wind-Down of Brand to Commence
DETROIT — The General Motors sale of Hummer to Sichuan Tengzhong Heavy Industrial Machines Co. cannot be completed, meaning that the automaker will wind down its Hummer business, it announced Wednesday afternoon.
"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," explained John Smith GM vice president of corporate planning and alliances.
"We have since considered a number of possibilities for Hummer along the way, and we are disappointed that the deal with Tengzhong could not be completed," he continued. "GM will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner."
The automaker said it will still honor Hummer warranties and provide service support and spare parts to current owners of Hummer vehicles.