End Of The Road For Saab?
Posted by Neil Payne on November 25th, 2009The future of Saab was in doubt last night after General Motors (GM), its American parent, said that a deal to sell the troubled Swedish carmaker had fallen through.
GM confirmed that the sale of Saab to Koenigsegg, a Swedish manufacturer of sports cars, had been terminated at Koenigsegg’s request.
The failure of the talks raises the possibility that GM may decide to scrap Saab, as it did last month when it said that it would close its Saturn brand after failing to find a buyer.
Is This Logo Soon To Dissapear Form The Streets?
Saab, one of Sweden’s best-known brands, employs 3,400 people in the country. About 3,000 people are employed at Saab’s 87 UK dealerships and 100 at its British headquarters.
Without the Saab sale, analysts question GM’s ability to restructure its Opel and Vauxhall operations in Europe. GM wants to raise €3.3 billion (£2.9 billion) from European governments to help to save Opel and Vauxhall after reversing a decision to sell them to Magna, a Canadian car parts manufacturer, and Sberbank, its Russian partner.
Read More>Times Online
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