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Sichuan’s HUMMER Purchase Still Subject To Chinese Approval

Posted in auto industry, Newsworthy, SUV, Trucks by Suzanne Denbow | October 12th, 2009 | Leave a Reply |

CHENGDU, CHINA – OCTOBER 10: A staff member works in a Hummer store on October 10, 2009 in Chengdu of Sichuan Province, China.

Following the announcement on Friday that GM had finalized the sale of HUMMER to Sichuan Tengzhong Heavy Industrial Machinery Co., new reports from Sichaun’s home turf in China are claiming the sale is still very much tentative. According to China’s Ministry of Commerce, Sichuan’s acquisition must receive official approval from the related regulatory commission before the terms of the deal may be finalized and as of this morning, Sichuan had yet to submit the necessary paperwork.

Although of little importance to the average consumer, to those whose paycheck depends on a smooth transaction this could mean one of two things: either GM’s collective sigh of relief was breathed just a shade too early, or it’s an extremely slow news day. In light of Sichuan’s statement that the documents are currently in preparation, we’re inclined to believe the latter.

Source: AutoNews
Image Cred: Getty Images

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