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Tuesday, November 24, 2009

The End Of Saab?

Bad news for Saab fans today. Koenigsegg, like Penske with Saturn, backed out of the deal, leaving GM with another brand it doesn't want.

Perhaps Geely will look at it, since it is rumored that they are leading the bidders for Volvo.

A great place to go for Saab discussion is Saabs United, the home of Steve Wade, the definitive Saab Blogger, who formerly blogged at Trollhattan Saab. Swade thinks GM will probably try to sell to another buyer, because they have a lot invested in Saab, and can use the cash.

The dismantling of GM sure is ugly.

4 comments:

Moremony services said...
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james said...
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Anonymous said...

Lets see, GM only exists as is because of government money. GM then s makes it near impossible for anyone to buy one of their brands due to limits put on the deal for frames, etc. Buyers then back away leaving potential revenue income to pay back the people on the table.

Sounds like the people need to get a bit angry with the two bit stooges running GM.

Matt said...

If this was a real bankruptcy the creditors would have been given or taken both Saab and Saturn and sold them to the highest bidder, probably a Chinese company. Another tough competitor? In Obamaland where UAW interests are primary this is unacceptable so screw the creditors.