Tag Archive for 'Koenigsegg'

Breaking News: GM to Wind Down Saab

Published on December 18, 2009 in Industry Update and Manufacturer Update. 0 Comments Tags: , , , , , .

It was announced this morning that GM will begin “winding down” operations of their subsidiary, Saab.  GM has been trying all year to find a buyer for Saab, but has been unable to complete a sale, after last month’s failure to sell to Swedish supercar manufacturer Koenigsegg and this month’s failure to sell to Dutch automaker Spyker Cars.  GM is following through on an earlier statement where they announced that if they couldn’t find a buyer by year’s end, they’d wind down its operations.

In the press release made this morning, GM also stated that Saab’s debts would be paid, as this is not a bankruptcy or forced liquidation.  They will also be honoring warranties and providing spare parts to dealers.  It’s always a sad day when a manufacturer with such a long history has its doors closed for good.

Saab only sold 23,186 cars in North America in 2008, a decrease of about 34% from 2007, when the Swedish automaker sold 35,175 cars.

by John Suit

Source: General Motors

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Bad Omen? Saab deal falls through for GM

Published on November 25, 2009 in Industry Update, Manufacturer Update and Predictions. 0 Comments Tags: , , .

It was announced Tuesday that Koenigsegg, a Swedish supercar manufacturer, has dropped out of a deal to purchase Saab from GM.  Contrary to previous press releases from GM stating the “winding down” of Saab if a buyer could not be found, they are now saying that they, “… will take the next several days to assess the situation and will advise on the next steps next week.”  Expect more news posted here next week as GM figures out what to do with its quirky subsidiary.

My prediction is that GM will sell off Saab to another buyer.  There were other companies interested in Saab before Koenigsegg, and now they can come to the forefront.  Realistically, GM doesn’t need Saab, so they should sell it off, or shut it down.  This would get rid of unnecessary overhead and costs on GM’s part.  While some reports have declared an end to the automotive recession, I believe we are far from it.  The downward slide in sales may have slowed or stopped by this point, but I think it will be a long time before the American automotive market will be able to support sales of 13-17 million new vehicles per year.

by John Suit

Sources: Automotive News, GM

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