With gas prices now hovering around $4 a gallon in the U.S., General Motors is looking to unload its gas-guzzling Hummer brand as quickly as it is trying to add fuel efficient models. GM CEO Rick Wagoner announced earlier this month that the iconic off-road brand was up for “strategic reviewâ€, and it looks as though Hummer could be packing its bags for India.
A report surfaced just days ago that GM was shopping Hummer to India’s Tata Motors and Mahindra & Mahindra, and an insider has revealed that Mahindra is the likely front runner for the brand’s acquisition.
“Mahindra is very keen on acquiring the Hummer, because of many reasons, but I can’t go into all of them but for one it is the most seen vehicle on TV in any country, these days at least the military version of it,” a high-ranking official at Mahindra told just-auto. “It is still too early to talk of prices and timeframes but we are in the process of designing a civilian version of the Mahindra AXE and owning the vehicle it was modeled after would make a lot of sense.”
The AXE is a Mahindra-built military vehicle that looks very similar to GM’s Hummer vehicles.
Hummer has seen its retail sales decrease drastically over the past few months, with overall sales down almost 40 percent this year. However, Mahindra’s current lineup is SUV heavy, so the acquisition would seem to make sense.
Analysts predict Hummer could fetch about $750 million.
