GM will wind down Hummer as the sale could not be completed

I guess the good news is that gas prices should go down with Hummer out of the game, it's that whole supply and demand thing.... alright, it's not that funny....
As expected, GM announced today that the deal to sell Hummer to Tengzhong Heavy Industrial Machines Co., Ltd. (Tengzhong) was unable to be completed and as a result the American branf will be wound down.

After Pontiac and Saturn, another one bites the dust! But don’t worry… GM will still continue to honor Hummer warranties and provide service support and spare parts to Hummer owners.

“One year ago, General Motors announced that we were going to divest HUMMER, as part of focusing our efforts on Chevrolet, Buick, GMC and Cadillac going forward. We have since considered a number of possibilities for HUMMER along the way, and we are disappointed that the deal with Tengzhong could not be completed,” said John Smith GM vice president of corporate planning and alliances. “GM will now work closely with HUMMER employees, dealers and suppliers to wind down the business in an orderly and responsible manner.”

Source;
http://www.4wheelsnews.com/gm-will-wind-down-hummer-as-the-sale-could-not-be-completed/