Hummer Vehicle Girl

• Failed sale
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. After GM announced that same day that the sale was to an undisclosed Chinese company, CNN and the New York Times identified the buyer of the Hummer truck unit as China-based Sichuan Tengzhong Heavy Industrial Machinery Company Ltd. Later that day, Sichuan Tengzhong itself announced the deal on their own website.
On January 6, 2010, GM CEO Ed Whitacre said he hopes to close the deal with Tengzhong by the end of January 2010. 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. It was also revealed that the price tag of the Hummer brand was $150 million.
Later, on February 24, 2010, GM announced the Tengzhong deal had collapsed and the Hummer brand would soon shut down. 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. 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.