Hummer's sale hits a rocky patch (ahem)
Hummer's sale to the appropriately named Sichuan Tengzhong Heavy Industrial Machinery hangs in the balance after it emerged that the Chinese government is unlikely to approve the sale.
Reports from China suggest that the government may reject the deal because it is focusing its efforts not only on creating more fuel-efficient vehicles - not exactly a Hummer speciality - but also on slimming down its car industry.
With more than 100 car manufacturers operating in China already, the government there is looking to ease competition by reducing the numbers of manufacturers, so the Chinese commerce ministry will take some convincing that it needs one more maker added to the list.
Chen Rongkai, a media officer for the Chinese Ministry of Commerce, told Bloomberg that the matter was "a business decision", but declined to comment further.
If the sale falls through, Hummer may not make it through GM's Chapter 11 proceedings. Looks like it could be 'hasta la vista' for Arnie's one-time favourite SUV brand.
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