GM May Shut Saab as Koenigsegg Ends Acquisition Talks
By Jeff Green, Niklas Magnusson and Adam Ewing

Nov. 24 (Bloomberg) -- General Motors Co. may shut its Saab unit after Koenigsegg Group AB canceled a planned acquisition of the Swedish company, a person familiar with the matter said.

GM’s board will review the future of the bankrupt unit at a Dec. 1 meeting, said the person, who asked not to be identified because the talks aren’t public. Directors could opt to keep Saab, as they did when deciding earlier this month to cancel a sale of the Opel brand in Germany, the person said.

“We will take the next several days to assess the situation and will advise on the next steps next week,” GM Chief Executive Officer Fritz Henderson said in a statement today. “We’re obviously very disappointed with the decision to pull out.”

The pullout by Koenigsegg, which said it ran out of time to complete a deal, is the third brand sale to falter since GM’s July 10 bankruptcy exit. GM backed out of the Opel sale to a group led by Magna International Inc., and Penske Automotive Group Inc. withdrew in September from a plan to buy Saturn.

GM has a contingency plan for Saab similar to a process being used to wind down Saturn, the person said. Saab owners would continue to be covered by GM warranties and be assigned to a new dealership for service, the person said.

Saab had said that the transaction with Koenigsegg, the maker of $1.2 million sports cars, would close at the end of this month. The deal was postponed after the European Investment Bank delayed a decision on granting Saab a 400 million-euro ($600 million) loan, which it approved Oct. 21.

‘Time Just Ran Out’

“We believed in the plan, we were convinced that it would work,” Koenigsegg Chairman Augie Fabela said in a telephone interview today. “We came to the decision after deliberations over the past few days that time just ran out for us to make the deal happen. It’s up to GM now.”

Saab received protection from creditors in February after GM said it was cutting ties with the unit. GM bought Saab from Sweden’s Wallenberg family in two steps starting in 1990, betting the brand would widen GM’s appeal with buyers seeking European turbocharged, aerodynamic cars.

Koenigsegg won the bidding for Saab in June in a deal that would return the Trollhaettan-based automaker to Swedish control after almost two decades.

Beijing Automotive Industry Holdings Co., China’s fastest- growing carmaker, agreed in September to take a minority stake in Koenigsegg Group, the investment team set up to buy Saab.

‘Risks and Uncertainties’

“Time always played a critical factor in our strategy for reviving the company,” Christian von Koenigsegg, a member of the acquisition group, said in a statement. “Unfortunately, delays in closing this acquisition have resulted in risks and uncertainties that prevent us from successfully implementing the new Saab business plan.”

Henderson said GM executives had created “a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg.”

Saab’s 10-month sales slumped 62 percent to 7,441 cars in the U.S., the world’s largest auto market. The automaker sold just 513 cars in the U.S. last month.

In Europe, Saab’s biggest market, 10-month sales plunged 59 percent to 23,590 vehicles, a steeper decline than for any other major carmaker. October sales in the region were 1,753, down 65 percent from last year, the Brussels-based European Automobile Manufacturers’ Association said Nov. 16.

As of Nov. 15, Saab planned to reduce its U.S. dealership body by 37 percent, cutting 81 of 218 dealers.

“It is surprising,” George Glassman, dealer principal of Glassman Saab in Southfield, Michigan, said of Koenigsegg’s exit. “It is not what I had hoped to hear, but I believe it’s a dead issue. In the interim, if you know of a McDonald’s, Burger King or Dunkin’ Donuts that would like to occupy my showroom, let me know.”

这种某些人顶礼膜拜的牌子我都不觉得有什么好，
死贵死贵，不就是个增压吗？大众也有，那么贵的价钱再怎么的买辆宝马，后驱怎么也比萨博的前驱车好吧。让我列出我喜欢的车列30辆也不会有丝毫联想到萨博。

啥时候和subaru共线过？很早之前是贴牌销售过saab 9-2x，那是纳皇粮年代的事儿了

现在subaru是toyota控股，并且共同研发了ft-86，GM手上的saab还轮不到和Toyota共线……

SAAB比悍马值钱多了，腾中收购悍马不如收购SAAB。

最早知道SAAB这牌子还是在007小说里...

哪跟哪? 没特点就没人买, 我们这旮答都快绝迹了.

这都哪儿跟哪儿啊

这车原来就增压一个特点, 现在和扫把鲁共线了啥特点都木有了.

where are the chinese buyers?

早晚的事而已