As we learned yesterday, GM’s sale of Hummer to China’s Sichuan Tengzhong Heavy Industrial Machinery Co. went sour due to Tengzhong’s failure to secure approval of the Chinese government. According to the Wall Street Journal, two bidders have expressed renewed interest. The WSJ would not go so far as to specify just who is interested in the ailing uber SUV brand, but did say that the latest suitors have previously submitted bids for Hummer, only to have been passed over by The General in favor of Tengzhong.
Citing a person familiar with the situation, the WSJ reports that GM is said to be giving these bidders a fresh look even after picking Sichuan Tengzhong.
It’s very easy to remember the whole Saab Sales Saga when looking at this situation. Though we at GM Authority hope for an eventual sale of Hummer, we don’t wish for such a roller coaster that ultimately became the sale of Saab. Hopefully the go-anywhere SUV brand does not go the way of Saturn (or Pontiac), although it looks like it has already purchased its one-way ticket.
Trust GM Authority to keep you posted as the story develops![Source: WSJ]