Hummer Sale to Chinese Company Falls Through
GM’s planned sale of the Hummer brand to China’s Sichuan Tengzhong Heavy Industrial Machinery Co. has fallen through. GM says it will wind down all operations for the brand.
GM says it will honor all warranties and provide service and parts through other GM dealers. This is the same process that Saturn and Pontiac went through in the past year since GM’s restructuring.
Hummer sales fell 67% in 2009 compared with 2008 to just 9,046 units. Reports from Bloomberg earlier today pointed to the Chinese government’s desire to portray a green image as its huge population is increasingly buying more cars as a reason it would not approve the sale.