updated 7/31/2008 1:44:44 PM ET 2008-07-31T17:44:44

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."

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.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com