Editing Hummer (section)

===Failed sale and shutdown===
On June 1, 2009, as a part of the [[General Motors bankruptcy]] announcement, the company revealed that the Hummer brand would be discontinued. However, the following day GM announced that instead it had reached a deal to sell the brand to an undisclosed buyer.<ref name="NYT-june3">{{cite news |url=https://www.nytimes.com/2009/06/03/business/03auto.html |newspaper=The New York Times |title=Chinese Company Buying G.M.'s HUMMER Brand |first1=Keith |last1=Bradsher |first2=Nick |last2=Bunkley |date=June 3, 2009 |access-date=April 6, 2015 |archive-date=November 9, 2020 |archive-url=https://web.archive.org/web/20201109032436/https://www.nytimes.com/2009/06/03/business/03auto.html |url-status=live }}</ref> After GM announced that same day that the sale was to an undisclosed Chinese company,<ref name="nbcnews_com">{{cite web |url=https://www.nbcnews.com/id/wbna31059625 |title=Chinese company to buy HUMMER from GM |publisher=NBC News |agency=Associated Press |date=June 24, 2009 |access-date=April 6, 2015 |archive-date=October 6, 2014 |archive-url=https://web.archive.org/web/20141006194316/http://www.nbcnews.com/id/31059625/ |url-status=live }}</ref> CNN and the New York Times identified the buyer of the Hummer truck unit as China-based [[Sichuan Tengzhong Heavy Industrial Machinery Company]] Ltd.<ref name="NYT-june3"/><ref>{{cite news |url=https://money.cnn.com/2009/06/02/news/companies/gm_hummer/index.htm?postversion=2009060207 |title=Who bought Hummer? Sichuan Tengzhong of China |publisher=CNN |first=Aaron |last=Smith |date=June 2, 2009 |access-date=April 6, 2015 |archive-date=November 9, 2020 |archive-url=https://web.archive.org/web/20201109033904/https://money.cnn.com/2009/06/02/news/companies/gm_hummer/index.htm?postversion=2009060207 |url-status=live }}</ref><ref name="nbcnews_com" /> Later that day, Sichuan Tengzhong itself announced the deal on their own website.

On January 6, 2010, GM CEO [[Ed Whitacre]] said he hoped to close the deal with Tengzhong by the end of that month.<ref>{{cite news |url=https://www.reuters.com/article/idUSTRE6055B220100106 |first=Soyoung |last=Kim |title=GM not hopeful on Saab deal, proceeds with closure |work=Reuters |date=January 6, 2010 |access-date=April 6, 2015 |archive-date=February 26, 2010 |archive-url=https://web.archive.org/web/20100226064433/http://www.reuters.com/article/idUSTRE6055B220100106 |url-status=live }}</ref> On February 1, 2010, it was announced that Sichuan and General Motors had agreed to extend the deadline until the end of February as Sichuan tried to get approval by the Chinese government.<ref>{{cite news|url=https://www.reuters.com/article/idUSTOE61005520100201|work=Reuters|title=UPDATE 1-Tengzhong agrees with GM to extend Hummer deadline|date=February 1, 2010|access-date=April 6, 2015|archive-date=June 2, 2010|archive-url=https://web.archive.org/web/20100602003557/http://www.reuters.com/article/idUSTOE61005520100201|url-status=live}}</ref> It was also revealed that the price tag of the Hummer brand was $150 million.<ref>{{cite news |title=Buyer hopes Tengzhong-Hummer deal done in Spring |url= https://www.reuters.com/article/us-hummer-hongkong-interview-idUSHKU00013520100201?loomia_ow=t0:s0:a49:g43:r1:c0.184211:b30168612:z0 |work=Reuters|date=February 1, 2010 |access-date=April 6, 2015 |archive-date=October 15, 2015 |archive-url= https://web.archive.org/web/20151015234316/http://www.reuters.com/article/2010/02/01/us-hummer-hongkong-interview-idUSHKU00013520100201?loomia_ow=t0:s0:a49:g43:r1:c0.184211:b30168612:z0 |url-status=live }}</ref>

Later, on February 24, 2010, GM announced the Tengzhong deal had collapsed and the Hummer brand would soon shut down.<ref>{{cite web |url=https://money.cnn.com/2010/02/24/news/companies/hummer_chinese/index.htm?hpt=T2 |publisher=CNN |date=February 24, 2010 |first=Chris |last=Isidore |title=HUMMER to close after collapse of Chinese deal |access-date=April 6, 2015 |archive-date=November 9, 2020 |archive-url=https://web.archive.org/web/20201109034843/https://money.cnn.com/2010/02/24/news/companies/hummer_chinese/index.htm?hpt=T2 |url-status=live }}</ref> There were reports that Sichuan Tengzhong might pursue the purchase of the Hummer brand from GM by purchasing it privately through the company's new J&A Tengzhong Fund SPC, a private equity investment fund owned by an offshore entity that was recruiting private investors to buy into its acquisition plan.<ref>{{cite news |url=https://dealbook.nytimes.com/2010/02/24/tengzhong-seeks-private-equity-solution-for-hummer/ |title=Tengzhong Seeks Private Equity Solution for HUMMER |newspaper=The New York Times |date=February 24, 2010 |access-date=April 6, 2015 |archive-date=August 2, 2020 |archive-url=https://web.archive.org/web/20200802022631/https://dealbook.nytimes.com/2010/02/24/tengzhong-seeks-private-equity-solution-for-hummer/ |url-status=live }}</ref> The financial markets posed problems for established borrowers and even more for Tengzhong, a little-known company from western China, at the same time as the potential value of the Hummer brand continued to decline, given high fuel prices and weak consumer demand.<ref>{{cite news |last=Bunkley |first=Nick |title=G.M. to Close HUMMER After Sale Fails |newspaper=The New York Times |date=February 24, 2010 |url=https://www.nytimes.com/2010/02/25/business/25hummer.html |access-date=April 6, 2015 |archive-date=December 10, 2020 |archive-url=https://web.archive.org/web/20201210141352/https://www.nytimes.com/2010/02/25/business/25hummer.html |url-status=live }}</ref>

The company announced it was willing to consider offers for all or part of the assets. American company Raser Technologies along with several others expressed interest in buying the company. However, on April 7, 2010, this attempt failed as well, and General Motors officially said it was shutting down the Hummer SUV brand and offering rich rebates in a bid to move the remaining 2,200 vehicles.<ref>{{cite news |last=Valdes-Dapena |first=Peter |title=HUMMER sale: Only 2,200 left |publisher=CNN |date=April 12, 2010 |url=https://money.cnn.com/2010/04/07/autos/gm_hummer_deals/ |access-date=April 6, 2015 |archive-date=November 9, 2020 |archive-url=https://web.archive.org/web/20201109033430/https://money.cnn.com/2010/04/07/autos/gm_hummer_deals/ |url-status=live }}</ref><ref>{{cite web |url=https://www.theatlantic.com/business/archive/2010/04/why-isnt-gm-selling-hummer/38655 |title=Why Isn't GM Selling HUMMER? |last=Indiviglio |first=Daniel |work=The Atlantic |date=April 8, 2010 |access-date=April 6, 2015 |archive-date=December 28, 2014 |archive-url=https://web.archive.org/web/20141228061202/http://www.theatlantic.com/business/archive/2010/04/why-isnt-gm-selling-hummer/38655/ |url-status=live }}</ref>

After filling a rental-car fleet order, the last Hummer&nbsp;H3 rolled off the line at [[Shreveport]] on May 24, 2010.<ref>{{cite web |last=Roy |first=Carolyn |url= http://www.ksla.com/Global/story.asp?S=12533107 |title=Last Hummer rolls off line at Shreveport GM plant |publisher=KSLA-TV |date=May 24, 2010 |access-date=April 6, 2015 |archive-url= https://web.archive.org/web/20130512115557/http://www.ksla.com/Global/story.asp?S=12533107 |archive-date=May 12, 2013 |url-status=dead}}</ref>