Report: GM board meets to discuss about Saab
By Andrew C., 26 Aug, 2010. 0 Comments
GM Logo
The most likely outcome of Saab is closure, according to various auto analysts. The General Motors Co. board will meet to decide on the unit's fate, which until recently, had been set to be purchased by Koenigsegg. Unfortunately, the deal had collapsed leaving the closure of Saab as a real possibility. Bloomberg reports that GM could close down Saab and sell its assets, including production machinery, to Beijing Automotive Industry Holding Co. Another possibility is also for Beijing Auto, which partnered with Koeningsegg in October, to take over Saab. Other interested companies are said to include Merbanco Merchant Banking Co. and U.S. financier Ira Rennert and his Renco Group. Saab has not made a profit since 2001, a fact that an auto analyst has said will make a buyer at this stage to be not feasible. [via autonews]
Latest Auto Shows
