Looks like yet another of the more recognizable car brands is headed for the history books. GM says they’re going to shut down Saab after efforts to sell the brand have failed:
General Motors announced today that it will shut down its Saab brand after several efforts to sell the Swedish carmaker could not be completed.
After a deal to sell the company to Koenigsegg Group AB fell through in November, GM had been in talks with a small Dutch automaker, Spyker Cars. But according to a statement from GM Europe President, Nick Reilly, “it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time. In order to maintain operations, Saab needed a quick resolution.”
I’ve had mixed feelings about Saab since they separated their aircraft unit from the car-making company years ago.