It's Official RIP HUMMER

[Humminnboatin]

Sad news today.



General Motors said Wednesday that it was shutting down Hummer, the brand of big sport-utility vehicles that became synonymous with the term “gas guzzler,” after a deal to sell it to a Chinese manufacturer fell apart, The New York Times’s Nick Bunkley reports from Detroit.



G.M. said only that its planned sale of Hummer to the Sichuan Tengzhong Heavy Industrial Machines Company “cannot be completed,” without giving a reason, but the $150 million deal had been stalled as the companies awaited approval from the Chinese government. G.M. had been trying to sell Hummer for a year, and struck a preliminary deal with Tengzhong last June.



The two companies had planned to close the deal by the end of January, then delayed the deadline by a month in the hopes of getting the green light from China.



“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,” John Smith, G.M.’s vice president of corporate planning and alliances, said in a statement. “G.M. will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner.”



It was the third time since G.M. emerged from bankruptcy protection last year that a deal to sell one of its unwanted brands collapsed. The company is shutting down Saturn after a sale fell through, and it began to halt operations at Saab after an agreement with Koenigsegg AB in Sweden was called off. G.M. later reached an agreement with a Dutch company, Spyker Cars; that deal closed Tuesday.



G.M. also is closing Pontiac but it never attempted to sell that brand.



G.M. said it still would honor Hummer warranties and provide service and parts to current Hummer owners worldwide. Hummer has nearly 400 dealerships globally.



The deal would have made Tengzhong the first Chinese company to sell vehicles in North America, though it planned to keep Hummer’s operations in the United States.

[T.C.]

<img src='http://www.canadianhummerclub.com/forum ... /blink.gif' class='bbc_emoticon' alt=':blink:' /> Yes it is sad news <img src='http://www.canadianhummerclub.com/forum ... ey-013.gif' class='bbc_emoticon' alt=':wtf:' />

[cbrandson]

that sucks!!!!

[T.C.]

D, let's by the brand....loto ticket anyone <img src='http://www.canadianhummerclub.com/forum ... lleyes.gif' class='bbc_emoticon' alt=':rolleyes:' />

[JL]

Even though GM says they'll begin winding down HUMMER, they also stated that if a buyer was found between now and the time HUMMER is 'finished' that the brand is still eligible for sale.



Slim chance a buyer will step up, but if you've been following the sale of SAAB you'll know that these types of sales can happen in short period of time and that certainly this news doesn't necessarily mean the end of HUMMER. Even knowing that however I'd still be surprised if a buyer was found.



Either way I'll be enjoying my truck for years to come! The end of HUMMER the company doesn't mean the end of my HUMMER, and I'll have a smile on my face every time I drive it.

[T.C.]

[quote name='JL' date='24 February 2010 - 09:11 PM' timestamp='1267063873' post='13438']

Even though GM says they'll begin winding down HUMMER, they also stated that if a buyer was found between now and the time HUMMER is 'finished' that the brand is still eligible for sale.



Slim chance a buyer will step up, but if you've been following the sale of SAAB you'll know that these types of sales can happen in short period of time and that certainly this news doesn't necessarily mean the end of HUMMER. Even knowing that however I'd still be surprised if a buyer was found.



Either way I'll be enjoying my truck for years to come! The end of HUMMER the company doesn't mean the end of my HUMMER, and I'll have a smile on my face every time I drive it.

[/quote]





WELL SAID <img src='http://www.canadianhummerclub.com/forum ... ght_on.gif' class='bbc_emoticon' alt=':right_on:' />