GM examining offers for Hummer from other bidders

In the wake of the collapsed bidding process by Sichuan Tengzhong Heavy Industrial Machinery to acquire Hummer, GM is examining prior bids with a fresh look. In a situation reminiscent of that with Saab, the company however will begin the winding down process while examining bids. Hummer’s chances of resurrection however, are significantly lower than that of Saab.

Hummer’s sales took the biggest hit in the industry as they showed a 67% decline last year.

Having been sold to civilians since 1992, the Hummer was selling between 800 and 1,000 civilian units in 1999, when GM brought the brand, and after the inception of the H2, civilian U.S. sales peaked at 71,524 units in 2006. After a steep incline in gas prices, sales dwindled last year to an astronomically low 9,046 units last year.

– By: Stephen Calogera

Source: Automotive News (Subscription Required)