GM says several parties interested in Hummer brand

Tools

A Hummer is seen at a dealer, Hummer of Columbus, Thursday, June 12, 2008 in Dublin, Ohio. As if high gas prices, a weak economy and a strike by a major supplier weren't enough to drag down Hummer's sales, Hummer dealers are now reeling from the news that General Motors Corp. may consider selling the brand. (AP Photo/Kiichiro Sato)

By Beth Boehne

Story Created: Jul 31, 2008 at 2:29 PM EST

Story Updated: Jul 31, 2008 at 2:30 PM EST

DETROIT (AP) — General Motors Corp. says several outside parties are interested in buying its Hummer brand, known for its huge, rugged vehicles that come with poor fuel economy.

GM announced in June that it would review the brand for potential sale in an era of $4 per gallon gasoline.

Company spokesman Tom Wilkinson would not comment on reports that GM is talking with Indian automaker Mahindra & Mahindra Ltd. about buying the iconic brand.

"We're talking to a number of parties that are interested in Hummer," Wilkinson said Thursday. "We can't comment on negotiations at this point."

The Hummer H2 currently is manufactured for GM by AM General Corp. in Mishawaka, Ind.

Industry analysts have mentioned Mahindra as well as India's Tata Motors Ltd., which just acquired the Land Rover and Jaguar brands from Ford Motor Co., as possible buyers. Chinese automakers also are possible suitors.

Hummer sales are down more than 40 percent for the first half of the year, when compared with the same period last year.

GM shares fell 6 cents to $11.34 in afternoon trading.

More Good Stuff

WSBT Weather

Current Temp 47.3

More Weather

WSBT Weather

More Weather

On Demand

iPhone
Get the WSBT News and Irish Sports Report apps for your iPhone! Read more »
On DVD
Order a DVD of a WSBT news story! Read more »
Twitter
Follow us on Twitter! Read more »
Facebook
Connect with us on Facebook! Read more »
WSBT E-News
Daily StormTracker e-mails right to your Inbox! Read more »
Video On Demand
Miss a story on WSBT News? Watch it here! Read more »
CBS Shows
Watch CBS shows and news online, free! Read more »
WSBT Alert
Breaking News & Weather right to your cell phone! Read more »
Mobile
WSBT News on the go for your cell phone or PDA. Read more »
RSS Feeds
Get news and updates as soon as they're published. Read more »

Stock Quotes

YouNews

This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.