Hummer deal fails; GM to shutter brand
General Motors said it will shut down Hummer after its bid to sell the brand to a Chinese company collapsed.
Heavy-equipment maker Sichuan Tengzhong Heavy Industrial Machinery pulled out of the deal for Hummer, known for its hulking, military-style SUVs, because it was unable to get clearance from Chinese regulators by a Feb. 28 deadline, the manufacturer said.
GM said that it will continue to honor existing Hummer warranties and that it will work with dealers, employees and suppliers to close the brand responsibly.
-- Associated Press