The days appear to be numbered for General Motors’ brand of oversize musclemobiles that we know as Hummer. The Detroit automaker has failed to seal the deal with a Chinese buyer in time to save the SUV line, which is looking more and more like the relic of pre-recessionary excess (not to mention gas-guzzling impudence) that it is. —KA
The Washington Post:
The sale of the SUV brand with military roots to a Chinese heavy equipment maker has collapsed. GM said it would still hear offers for the company, but potential investors would have to move fast.
“In the early phases of the wind-down, we’ll entertain offers and determine their viability, but that will have to happen in pretty short order,” said GM spokesman Nick Richards.
GM said Wednesday that its bid to sell Hummer to Sichuan Tengzhong Heavy Industrial Machines Co. fell through. The Chinese manufacturer said it failed to get clearance from regulators in Beijing within the proposed timeframe for the sale.