General Motors has announced that China’s Sichuan Tengzhong Heavy Industrial Machines was unable to complete the acquisition of its Hummer brand. As a result of the failed sale, GM will begin to wind-down Hummer operations.
“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. 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,” said John Smith GM vice president of corporate planning and alliances. “GM will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner.”
As with the winding down of Pontiac and Saturn brands before this, GM has promised to honour Hummer warranties, provide service support and spare parts to Hummer owners around the world.