The closure of so many of GM's production facilities will result in the loss thousands of jobs. One ray of sunlight broke through as China's Sichuan Tengzhong Heavy Industrial Machinery Co. negotiated a preliminary agreement to buy the rugged Hummer SUV brand from GM. This will save over 3,000 jobs and save several GM production facilities from going inactive.

The Associated Press broke the news about the Chinese purchase, describing the Chinese firm, Sichuan Tengzhong as a producer of industrial products whose foray into automobile manufacturing will be its first. Included in the agreement was Tengzhong's honoring of whatever existing contracts GM had with Hummer dealerships. The new Chinese owners plan to extend the Hummer brand to include more fuel-efficient vehicles, and to open dealerships in China as well.

With twelve of GM's production facilities closing by next year, keeping the two Hummer plants running will enable almost 100 Hummer dealers to remain open. Gm still has a long way to go toward meeting its projected goal of selling off its Saturn and Saab brands and dropping Pontiac brand from its roster. Sales for the Hummer so far this year have been down 64 percent coinciding with the recent rise in gasoline prices. Hummer's departure from the GM stable is timely in that it is symbolic of GM's shift away from fuel-guzzling vehicles.