General Motors’ sale of Hummer to Tengzhong Heavy Industrial Machines Co. Ltd. is dead and as a result GM has decided to just wind down the brand.
After months of negotiations, the agreement between Tengzhong and GM stalled because of a multitude of reasons, including poor sales of Hummer and the fact that the sale would go against the country’s increased efforts in curbing gas-guzzling vehicles in favour of more eco-friendly cars. The deal with Tengzhong was supposed to save Hummer from folding, which was what GM initially planned to do if it couldn’t find a partner to buy the brand.
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And now that the only company that has expressed any interest in buying Hummer has backed off, GM has been left with no alternative but to just let the brand wind down its sales until it completely sets off into the sunset.
Likewise, GM will still honot any Hummer warranties and provide customer service support to current owners all over the world.
We don’t know if there’s going to be anyone that would step up in the 11th hour and purchase Hummer the same way Spyker did with Saab, but with the recent trend of auto brands putting a premium on eco-friendly vehicles, it looks highly unlikely that the gas-guzzling Hummer will find its own knight in shining armor.