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#374941 - 19th Dec 2009 7:17am GM To Wind Down Saab Brand
MattLFC Offline
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Registered: 14th Aug 2004
Posts: 22315
Loc: Moreton/Beirut/Mobile
Originally Posted By: BBC News
GM says it has failed to sell its Swedish car brand Saab and will begin "an orderly wind-down of Saab operations". GM had been in talks with the Dutch speciality car maker Spyker over a Sale. Talks with Sweden's Koenigsegg also fell through earlier this year.

"We regret that we are not able to complete this transaction with Spyker Cars," said GM Europe boss Nick Reilly. GM has been trying to sell Saab as part of its turnaround plans since January.

Mr Reilly added that all debts would be paid and that the winding-down would be "an orderly process". On a conference call, GM vice-president John Smith said it became clear that there were serious problems with the Spyker talks that could not be resolved. He said: "We reached a point of impasse, we decided to deal with it and move on."

A statement from the firm said that Saab would continue to honour all warranties, while providing service and spare parts to current Saab owners around the world.

I don't know whether im surprised or not by this... I guess, the writing was always on the wall as far as Saab and GM were concerned, but I honestly thought that someone would be prepared to take on the brand...

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#374971 - 19th Dec 2009 12:28pm Re: GM To Wind Down Saab Brand [Re: MattLFC]
DavidB Offline
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Registered: 7th Dec 2003
Posts: 5634
Loc: Bebington, Wirral
Seems Sweden really wants to hold onto it - they are really proud of the brand.
Thanks GM, thanks city bankers, thanks government.
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