As General Motors shuts down HUMMER, it is offering rebates of as much as $6,000 on remaining inventory on dealer lots. GM is also in the process of sending letters to dealers ending their franchises.

GM says that it would still consider “viable alternatives” to acquire all or part of the brand after the collapse of the sale of Sichuan Tenzhong Heavy Industrial Machinery Co. in late February.

If a party is interested in buying the go-anywhere brand from GM (rescuing it in the process), they would have to show that they have the financial resources to back it up. The last thing GM wants is to sell Hummer and commit to manufacturing vehicles for the new owner, only to later have the venture flop and idle manufacturing plants.  A few firms have expressed interest but none have successfully negotiated a deal with The General.

“Anyone who buys it needs cash to make it work,” Jim Hall, principal of consulting firm 2953 Analytics in Birmingham, Michigan, said of Hummer. “That’s why GM has been turning buyers away left, right and center.”

It’s worth noting that General Motors took the same approach during its divestiture of Saab earlier in the year, declining offers it deemed unsuitable for the long term. (more…)