GM’s Hummer bummer

The deal that GM has been trying to make with a Chinese company for the Hummer line has fallen through. GM will let the brand die. (story here)

GM first put the brand up for sale in 2008, hoping to raise as much as $500 million. The Tengzhong offer was estimated to be closer to $150 million. “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, GM’s vice president of corporate planning and alliances, said in a written statement released Feb. 24. “GM will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner.”

Good riddance…

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