The WSJ reports that Towbin Hummer is the only Hummer dealer in Las Vegas, and the brand's biggest franchise in the US — at least it will be until tomorrow, when the dealership shuts its doors for good. While Towbin will be the eighth Hummer dealer to close this year (equivalent to five percent of the brand's dealers), it's perhaps the most significant due to its location and place on the sales charts. After all, when you stake your claim on being the biggest and the baddest, and Vegas rejects you, you've probably hit the end of the line. But the Towbin dealership closure isn't just a bust for owner and self-described Hummer aficionado Dan Towbin; it's a big problem for GM too.

It's suddenly becoming more apparent why GM considers the sale of Hummer to be an "urgent" matter: perhaps it's because with every day that passes — and every dealer that closes — the value of the brand is dropping like we drop c-notes at the craps table. If GM wants to get anything out of this deal, they have to act quickly. Evidence is mounting that keeping Hummer as a viable concern in the US market is unlikely, so any potential suitors will need to come from countries with a strong market for over-the-top SUVs

GM was not just looking at selling brands but also other businesses, but Hummer would be among the first, he said.

The gas-guzzling Hummer has hurt GM's image at a time when consumers demand more fuel efficiency as high oil prices hurt. Hummer's U.S. sales fell 40 percent in the first half of the year.

GM is realigning its North American production to reflect a U.S. auto market reeling from an oil shock being compared to those of the 1970s. It plans to close four truck plants but add shifts at two others that build popular higher mileage cars.

Henderson expects softer sales in the United States in 2008 as oil prices and the credit crisis deter customers.

"It is going to stay challenging for some time," he said. "Have we found the bottom? I don't know."

Despite how badly GM wants to dump the Hummer, a looming global recession (and of course high oil prices) may be putting the kibosh on that plan.

General Motors (GM) had been in preliminary talks with automakers across Asia (including those in India and Russia) regarding the sale of its Hummer division. But now Chinese SUV maker Hunan Changfeng has broken off talks with GM and no longer has any interest in purchasing the gas-guzzler. Their remarks do not bode well for GM.

According to a Reuters source, Changfeng chose not to proceed because "the Hummer is way too expensive for the Chinese military and demand from civilian buyers is not big enough to justify a purchase, especially with oil prices running near an all-time high." The market leader in the Chinese auto industry, SAIC Motors, and the No. 3 player, Dongfeng, also have said they have little interest in the Hummer.

Considering that China is about the only global market left still purchasing Hummers, these develoments are not encouraging for GM's planned sale. Now it's up to a Russian billionaire, an Indian automaker (Mahindra and Mahindra) or a Turkish private equity fund to come through.