Asians Spurn Hummer Take-Over

Troubled major General Motors (GM) received a double blow in recent days, as Indian and Chinese firms turned down the opportunity to acquire its flagging Hummer division. Following weeks of speculation, Mahindra and Mahindra, India's leading SUV and tractor manufacturer, has announced that it would not purchase the brand. Instead, it will focus on its own market, with an eye on launching an SUV model in the US market in H209. China's Hunan Changfeng Motor Company, which is partly owned by Mitsubishi, has also backed off following preliminary talks. Russian business tycoon Oleg Deripaska, owner of the GAZ Group, has

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