Hot News: Hummer is Dead

General Motors has announced its intention to shut down the Hummer brand after its planned sale to Sichuan Tengzhong Heavy Industrial Machines collapsed.

The off-road brand looks set to join Saturn and Pontiac on the scrap heap of failed GM brands.

The only hope for Hummer would be a surprise last minute bidder, such as Spyker's rescue of Saab, but that seems unlikely at this stage. Hummer sales have continued to slump amid the financial crisis and rising fuel prices.

"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.

"GM will now work closely with HUMMER employees, dealers and suppliers to wind down the business in an orderly and responsible manner," said Smith.

The company has declared it will honour all Hummer warranties as well as providing parts and services to existing owners around the world.

Thanks to: Car Point


Post a Comment

Copyright © Automotive News & Concepts. All Rights Reserved.