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 czar 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
Nissan releases 370Z Roadster2 comments on this post
Comment 1
I'm now on my 3rd SAAB in 10 Years a late 900 (never had any problems), an older 9-3 (not good could not wait too get rid of it) and an new 08 93 Sport Wagon TTID, great car starting to show the SAAB individuality again.
GM have really screwed up the brand in my view and it's time they let others take the reigns rather than playing stupid games! The brand has a great customer base and a lot of loyality.
Posted by John on January 15, 2010 (1222 days ago)
Comment 2
As one working in business, it often appears that GM is using this closing down card as a negotiating tactic.
Owning 5 cars since 1985, about 200K to Saab and GM, with a current 2008, you would think GM or Saab could maybe make some contact with their consumers under warranty at least once over the last 4 months?
Maybe that is why the brand is in the shape it is. Other brands do a lot after the sale, during a time like these, I am sure owners would like to get some official documents from GM and the Saab division.
If a new owner, 1st thing on you list, reach out to your current, or maybe now, former client base. We are the one taking further hits on depreciation. Got a Hummer and Saab, never had heard a word except what I read. Tells me, GM has a way to go.
Posted by 5 Saab car owner Steve on January 14, 2010 (1223 days ago)
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