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GM Will Shut HUMMER Brand Down

 
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Despite hopes that a new buyer for Hummer would be found after an original sale deal with China’s Sichuan Tengzhong Heavy Industrial Machines Co., Ltd. (Tengzhong) fell through, General Motors will now shut the brand down for good.

GM originally said that it had several parties still interested in acquiring Hummer and that a deadline for the sale was set at May 1, however, company spokesman Nick Richards said plans to shut down the brand were brought forward.

The winding down process would be similar to what GM did for Saturn and Pontiac. Existing inventories would be cleared out with generous rebates and remaining dealers would be paid varying settlement amounts. According to Richards, those dealers--153 in the U.S.--were told of the grim news over a conference call this morning. Hummer CEO Jim Taylor has also retired, effective immediately.

GM would also continue to honor Hummer warranties, while providing service support and spare parts to remaining owners around the world.

There are roughly 2,200 new Hummers currently in stock, and some of the incentives we can expect to see will include 0 percent financing and customer cash.

[Automotive News, sub req’d]



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Comments (7)
  1. In other news, GM has received a late bid for Oldsmobile. GM spokesfolks say they are considering their options and hope to come to an agreement with the undisclosed bidder at a time to be disclosed on a need to know basis more or less at some point in the future as viable.It’s my opinion that Hummer is the brand most likely to succeed once it’s finally sold in late 2010 or 2011. The price is fair and since there’s no EU money needed it could actually happen.
     
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  2. I thought it was pretty much a done deal last year?
    Either way, who cares?! It's Hummer we're talking about here. Only rappers with more money than brains buy them anyway.
     
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  3. Michael dear, I'm a 57 year old grandmother. I LOVE my Hummer! You have less than no clue as to what you're talking about. Shhhh... If you are quiet, no one will know how dumb you are.
     
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  4. "GM’s new CEO Ed Whitacre wants to see a quick solution for HUMMER..."
    The quickest solution would be euthanasia
     
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  5. @bepsf
    I was gonna say the same thing!
    It would be unfortunate for the American jobs that would be lost, but who os going to want HUMMER, really? I think there is a better chance of International bringing back a new Scout, then there is for HUMMER to survive. This is the end of the road for HUMMER.
     
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  6. You know, a quick death would have been better then to keep dragging this out for so long.
     
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  7. GM ran Hummer into the ground. If they would have put the vehicles on a diet and certified a fuel efficient twin turbo four cylinder diesel engines when it held a 50% share of Isuzu, one of largest diesel engine builders in the world, the brand could have thrived or been more attractive for sale. I agree with cutting your losses and trying to do what you can do best, but with GM that is little or nothing. Just think about all of the cash Fritz Henderson is still raking in after being thrown out of the door. Oh Escobar, those Hummers that you see on CSI Miami are for the Police Department.
     
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