GM says several parties interested in Hummer brand

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GM may sell Hummer brand

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.

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