GM posted some very sad news yesterday on their media website:
The GM Board of Directors has received expressions of interest in Saab since the conclusion of negotiations with Koenigsegg Group AB. The Board will evaluate potential bids between now and the end of December. At that time, we will determine whether a suitable arrangement for Saab exists. If not, we will begin an orderly wind down of the global Saab business at that time.
Due to non-disclosure agreements, we will not confirm or comment on any potential transactions or other matters unless, and until, we determine that disclosure is appropriate.
An orderly winding down. That pretty much means “close shop”. I don’t think any of us would have thought that anyone would attempt to pick up the brand within a month’s time, but there is a small glimmer of hope.
Dutch automaker Spyker has submitted a bid to take over 100% of Saab from GM for an undisclosed amount. They refused to elaborate futher, although they confirmed it in a note sent to the media. Spyker’s sports cars would be able to benefit through the shared technology and parts that it would gain from Saab. We could see a common set of components underpining both Saab’s ‘mainstream’ cars and Spyker’s expensive sports cars.
Another alternative would be to sell certain useful parts of Saab to Beijing Auto (BAIC) and then wind down the rest of the brand. We recently heard about BAIC’s plans to build a rebadged last-generation Saab 9-5 in China.