Final decision due on Saab sale

Written By Faye Sunderland Published On: Jan 14 2010

General Motors (GM) is set to make a final decision on the fate of Saab no later than early February, GM Europe president Nick Reilly told reporters at the Detroit Motor Show this week. Talks with potential buyers - including F1 tsar Bernie Ecclestone and partner Genii Capital - are ongoing, he said but cautioned that Saab is losing money and "the longer this carries on ... the more difficult it is for someone to buy it."

On Monday, GM said it was continuing with the winding down of Saab - a process started last week - but was prepared to listen to offers.

Meanwhile the Financial Times reports that Bernie Ecclestone and his consortium made a revised bid for the beleaguered Swedish brand on Wednesday (January 13). The consortium is currently competing with sports carmaker, Spyker to acquire the brand.

However GM has repeatedly expressed doubt over the likelihood of a sale before it took the decision to begin a wind-down of the brand last week.

Categories: Saab

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