GM announces death of Saab
General Motors had an overbearing number of brands up until earlier this year, after spending the last few decades picking up random brands for no apparent reason. One of those brands was the Sweden-based Saab, maker of quirky unwanted cars that no one outside Sweden seems to want. GM itself underwent bankruptcy this year, got bought out by Obama’s government, and has been cutting down its portfolio. GM tried to sell Saab to Koenigsegg, then to the Chinese, and then to Spyker. After those talks failed, GM has announced that they are killing Saab.
GM will work closely with Saab to wind down the business in an “orderly and responsible” manner. Consequently, they expect Saab to “satisfy debts including supplier payments, and to wind down production and the distribution channel in an orderly manner while looking after our customers.”
Saab will supposedly continue to honour warranties, while providing service and spare parts to current Saab owners around the world.
As part of its efforts to become a leaner organization, GM began seeking a buyer for Saab’s operations in January. Last week, Saab announced that it had closed on the sale of certain Saab 9-3, current 9-5 and powertrain technology and tooling to Beijing Automotive Industry Holdings Co. Ltd. (BAIC).
The General’s focus will remain on the four core brands – Buick, Cadillac, Chevrolet and GMC – and several regional brands, including Opel in Europe.
It is unknown what will happen to the recently-unveiled 2010 Saab 9-5, as well as the upcoming Saab 9-4X crossover.