Saab to be wound down

[Drew Dowdell]

Saab to be wound down if buyer not found by end of December

DETROIT – The GM Board of Directors has received expressions of interest in Saab since the conclusion of negotiations with Koenigsegg Group AB. The Board will evaluate potential bids between now and the end of December. At that time, we will determine whether a suitable arrangement for Saab exists. If not, we will begin an orderly wind down of the global Saab business at that time.

[A Horse With No Name]

Wow...that's sad. Saab built some cool cars over the years.

Chris

[Camino LS6]

called this one.

[Z-06]

called this one.

You should wait till the Hairy German sings.

[Camino LS6]

Yeah, you're right Z06.

But I think the writing on the wall is becoming quite legible at this point.

I also don't think Saab will be the last brand around the industry to die before this awful time comes to a close.

[A Horse With No Name]

Look at the bright side...Scion will die also, I think, and Lexus will loose an assload of market share.

Acura will loose a lot of market share also, as will Infinity IMHO.

We may very well see Suzuki move off of our shores, and Mitsubishi is burning cash at the same rate the space shuttle burns fuel.

There are BRIGHT spots also, my friend.

Chris

[gm4life]

That is sad I hoped GM could have found a buyer.

[balthazar]

lexus has been showing declining sales month over month for like 24 months running, no?

And mitsu should already be long gone what with the reprehensible multiple corporate cover-ups (that were in the news spotlight all of 12 seconds)... but somehow both wretched brands are still here.

But WRT saab- how many more months / years should it take to determine it's a lost cause ?

[pow]

A shame really... considering how the brand-new 9-5 just debuted. Maybe we'll see that car with a Chinese nameplate... Ford has already reached a deal with Geely on Volvo's intellectual property rights (like what SAIC did with MG Rover).

[A Horse With No Name]

Off topic rabit trail but...

Just picked up my 8 year old daughter from girl scouts. Girl in her troup is named Alexis...parents like calling her "Lexus"...think it's a horrible name for a little girl.

Back on topic

...and yes, why Mitsu is still here...I don't know.

[cire]

I know it's not a real possibility, but it would be cool to see Saab join Renault/Nissan. Saab could be a quirky European premium brand to slot above Renault (which I view as a quirky European mainstream brand). This way, Renault/Nissan would have a mainstream/premium Euro based unit (Renault/Saab) and a mainstream/premium Asian based unit (Nissan/Infiniti), as well as their other minor brands (Dacia and Samsung). To me, a Renault/Saab relationship would equate to a quirkier version of the relationship between VW and Audi. I think Nissan/Renault have a credible selection of platforms that could be successfully modified to underpin future Saab products.

I'm not a big Saab fan, but it would be a shame to see the brand handed over to the Chinese or completely discontinued.

[daves87rs]

Wow...that's sad. Saab built some cool cars over the years.

Chris

Agreed....

[CSpec]

I'd be interested in hearing PCS's take on this. If it's true then it's a shame, but at least Sweden is smart enough to not shovel a pile of money into a losing concern (cough cough).

[PONTIAC06]

I think it's a shame because they looked to have a promising future as far as product goes. With the new 9-5 and 9-4x, I think they could have gotten back on track. A redesigned 9-3 and new 9-1 would have rounded out a lineup. Hopefully one of the new bidders can get a deal settled quickly so SAAB doesn't end up with Oldsmobile/Pontiac/Saturn in the graveyard.