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Hummer’s Odds Rapidly Fading

Dealers being told to begin shutting down.

by on Apr.09, 2010

Hummer dealers are being told to begin shutting down their operations.

The chances of General Motors finding a buyer for the Hummer brand continue to fade.
 

GM has quietly told Hummer dealers to wrap up their operations by the end of October and has approved wind-up payments to dealers so they can begin the process of closing their showrooms.
 

Dealers have been told “their GM Sales and Service Agreement expires Oct. 31,” Hummer spokesman Nick Richards said. 

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Hummer’s prospects dimmed dramatically, in February, when efforts to sell the Hummer brand to Sichuan Tengzhong Heavy Industrial Machines Co. Ltd. of China collapsed
 

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GM Rejects Eight Offers for Hummer

Reprieve now considered unlikely for GM's macho brand.

by on Mar.10, 2010

A Hummer H3T rolls down the assembly line at GM's Shreveport, LA, assembly line.

The fate of the Hummer brand is now hanging by a slender thread after General Motors Corp. rejected eight separate offers for the brand and ordered employees working on Hummer to wind down the group’s operations.

Until a few weeks ago, it looked like Hummer, one of four brands GM planned to abandon after its emergence from bankruptcy, would find a new home.

The Chinese truck maker, Sichuan Tengzhong Heavy Industrial Machinery Corp., had tendered an offer – but one it couldn’t win final approval for from regulators in Beijing.

On February 24th, GM announced it would begin phasing out Hummer, though it left the door open to finding an alternative buyer, much the same way a white knight emerged to save another one of the four brands, Sweden’s Saab.  According to a memo prepared on March 5, eight offers have since been fielded.

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“Unfortunately there were no qualified or capable candidates. Consequently, we are immediately pursuing the wind-down of the Hummer Brand. In other words there is no more slow winddown it really is wind-down of  Hummer,” according to  a memo signed by Matthew Koch, from the Hummer Deal Execution Team.

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