After announcing yesterday that Hummer closing their after a deal with a Chinese Heavy Machinery Company fell through, General Motors Co. is weighing two new sales offers today.
The companies currently in the running both bid on the brand but had their offers rejected in favor of a $150 million bid by Sichuan Tengzhong, which later fell through. GM is still slowing operations and preparing for close as it considers the offers. It’s unlikely it will accept the deals unless proper financing is presented. This was the case when they decided against shutting down their Adam Opel European unit.
In 2009, GM sold less than 10,000 Hummers domestically. In 2006, they sold 71,000.
GM has already closed the doors to other ailing brands, Pontiac and Saturn and are becoming increasingly familiar with scrapping underperforming branches.
The deal with Tengzhong is dead is the water as the company failed to fulfill paperwork demanded of them by Chinese regulators.
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