Hummer sale fails
General Motors will wind down its famous Hummer brand after a proposed sale to China's Sichuan Tengzhong Heavy Industrial Machines Co. Ltd. fell through.
According to a statement released by GM - Tengzhong “was unable to complete the acquisition”. The Chinese company failed to win government approval of the sale.
GM will honor warranties, provide spare parts and will support service for Hummers worldwide, the automaker said. GM has 153 U.S. Hummer dealers, spokeswoman Ryndee Carney said in an e-mail.
The failed deal likely seals the fate of the last of GM's four U.S. brands on chopping block. GM is winding down Saturn after its sale fell through in September. Pontiac is also being phased out. GM yesterday completed the sale of Saab to Dutch niche carmaker Spyker Cars NV.
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