earlier this week it was announced that the deal
had fallen through. Koenigsegg refused to go into
specifics, but some speculated that the company was scared off by
dealership closures and that some of its investors might have backed
Now it appears that Saab may share the same fate as GM's
Saturn brand -- it may be shuttered. A GM source, speaking
to The Detroit News, says that GM's board will meet next
Wednesday to decide on the brand's fate and that they may decide to
shut it down. While Beijing Automotive Industry Holdings, a
previous bidder, had voiced some interest in a new deal after the
Koenigsegg deal fall-through, the GM source said that GM has been in
no further talks with other parties, yet.
approximately 4,500 jobs on the line, much of which are in Sweden and
the U.S. Saab's employees must wait as GM weighs three options:
closing the brand, selling the brand to another bidder, or keeping
the struggling subsidiary. Keeping Saab seems unlikely, but not
out of the question, as GM was supposed to sell its two other
European subsidiaries -- Opel
and Vauxhall -- as well, but decided to keep them after talks
One factor that makes GM less likely to want to keep
Saab is the fact that it's a luxury brand. Opel and Vauxhall
are more mainstream brands, which helped spare them from closure.
However, GM is determined to make Cadillac its international luxury
brand, with Buick filling in the remaining entry-level gaps in its
higher-end offerings. Thus finding a way to fit Saab, another
high-end brand, into its new business plan will be difficult, to say
Saab produced its first vehicle in 1949: the 1950
Saab 92. The car featured an impressive industry best drag
coefficient of 0.30 at the time, aided by the company's aerodynamic
expertise. The company still has some valuable properties,
namely its promising new 2010 Saab 9-5 sedan, its 9-3 sedan, and its
quote: Change doesn't happen overnight.
quote: America is at a crossroads and runs the risk of looking absolutely retarded in future history books. We are on a course to commit mistakes we vehemently fought against only one and two generations ago.
quote: Health care reform is a meaningless phrase in itself
quote: GM doesn't want to sell to the Chinese.
quote: However, GM is determined to make Cadillac its international luxury brand