HUMMER Sets May 1 Target for New Life-Saving Deal

One of the brands that have not survived the economic crisis, Hummer, might have a chance to live on in case an interested party shows up by May 1. This basically means that General Motors is still open to talks and might give a chance to Hummer to survive, but only if the involved parties reach an agreement before the aforementioned deadline.

"We're going to do everything in our power to bring this home in the next couple of months," Hummer CEO Jim Taylor said in a statement according to Autonews.

At this time, nobody knows for sure which are the interested suitors, but sources familiar with the matter said there are "several" companies that might be looking into buying Hummer.

General Motors announced last month, after a failed deal with Sichuan Tengzhong Heavy Industrial Machinery Co. that it will start winding down the brand, a process that will take several months.

“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."