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GM Forced To Shut Down Hummer
It was not specified why the sale to the Chinese company, Sichuan Tengzhong Heavy Machines had failed. The Wall Street Journal reported that the deal did not receive the approval from the Chinese regulators.
The Hummer brand is a former Marque of trucks sold by General Liquidation Company. The original Hummer H1 was based on the military high mobility multi-purpose wheeled vehicle. Hummer H2 and Hummer H3 were based on other civilian needs.
Hummer had always been a niche vehicle but its image and sales were hit hard by the rising gasoline prices earlier this decade. Last year, GM sold only 9,046 Hummers. The figure went down by 67 per cent from 2008. Hummer is the third brand that GM is being forced to shut down as part of its bankruptcy.
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