General Motors is ready of dispense off its brand Hummer. It is reportedly in talks with Indian auto maker, Mahindra and Mahindra, along with automakers in Russia and China for the possible sale of its brand. Although the talks about owning the brand by Mahindra are still in a very premature stage, however, the option cannot be totally ruled out.
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General Motors hopes to raise $4 billion through asset sales. It has already hired investment bankers and consultants to seek possible buyers in the Chinese market. It has already slowed its production at its Hummer plant due to the gas-guzzling image of Hummer and 40 percent drop in its sales of the brand. It has also announced to close down its four factories Mexico and North America. It had hired Citibank to conduct a review of the brand.
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Mahindra and Mahindra had shown interest earlier in owning the brand but now it plans to make a foray in the US trucks and SUV market with its own brand. Tata Motors had also shown interest in owning the brand after acquiring Land Rover and Jaguar.
