Contrary to recent media speculation, leading Indian SUV-maker Mahindra & Mahindra is not interested in acquiring the Hummer brand that General Motors (NYSE: GM) is desperately trying to unload.

Managing director Anand Mahindra told reporters on Monday that his company is not interested in the Hummer, which leads us to one conclusion: Mahindra & Mahindra is not stupid.

In a related story, Reuters is reporting that China's Hunan Changfeng Motor Co. had preliminary talks with GM about acquiring the brand, but it also backed out pretty quickly.

This is another setback for General Motors, but it's not surprising: in addition to being hugely uneconomical in the face of high gas prices, the Hummer is also something of an international symbol of environmental destruction, and masculine posturing at its lowest ebb, as evidenced by this crude bumper sticker.

I'll be fascinated to see who ends up buying Hummer, if anyone. Given the state of the economy, the credit markets, and gas prices, it wouldn't be surprising to see GM forced to keep it.