It seems that Indian automakers are completely oblivious from the global financial crisis and are out on a shopping spree with close to billions to spend. Hardly has the dust settled on Tata acquiring Land Rover/Jaguar in a historic cash deal, we now face a new page in automotive history. Possible Indian owners for the most traditionally American brand ever; Hummer.
Only last week did GM release a statement that it is reviewing its Hummer brand on a strategic basis “from a complete revamp of the product line up to a complete sale of the brand,” and we already have possible buyers. News is out that Tata or Mahindra could be buying Hummer although both have refused to comment about it.
Reports suggest that bankers representing both Indian brands have met with GM executives to discuss the possible acquisition of Hummer. Hummer dropped sales by as much as 35% this year, surpassing the 25% drop it experienced in 2007. With cars like the Chevrolet Volt pointing at the future of GM and the rise of global oil prices, it only makes sense that GM disposes Hummer, whose trucks are notorious for their fuel guzzling characteristics. What do Tata and Mahindra see in Hummer? Well, rich Indian car buyers are huge fans of big petrol guzzling trucks, so we’re just going to have to wait and see what happens to Hummer.
