As of today, General Motors has officially declared that Sichuan Tengzhong Heavy Industrial Machines Co., Ltd. (try saying that ten times fast, I'll wait) won't be buying the Hummer brand after all. If you don't recall, Tengzhong is the Chinese company that thought it could make the Hummer business work in today's world.
There are many rumors to as why China officials would not support the transaction including Beijing's political agendas and environmental concerns (wait, Hummer's aren't efficient and green?), but fact is, the proposed deal is dead.
And since everything has fallen through, Hummer will begin its official "wind-down", as GM puts it. On the upside, everyone driving a Hummer now owns a future collectible. Congratulations!
GM Vice President of Corporate Planning and Alliance, John Smith, had this to say:
"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. GM will now work closely with HUMMER employees, dealers and suppliers to wind down the business in an orderly and responsible manner."
The General goes on to say that it will be honoring all warranties and will continue to provide replacement parts and all the other necessities to Hummer customers (kind of like what they're doing with Saturn, Pontiac, and old-Saab).
Hey, Hummer owners: why not rally together like those Saab fanatics and try to save the brand? Oh wait, Hummers are silly (and Trix are for kids).
-By Phil Alex
