Saab sale to be completed in August
By Andrew C., 27 Aug, 2010. 0 Comments
2010 Saab 9-5
Before the month ends, a binding agreement will have been reached selling Saab to the Koenigsegg Group, according to sources in Sweden. After exiting bankruptcy, GM can now finalize the deal with Koenigsegg Group, a conglomerate of investors working with the owners of the Swedish supercar manufacturer Koenigsegg. The handover is anticipated to occur in late summer. Saab is currently rushing to prepare the Trollhattan HQ for production of the all-new 9-5, which is expected to be unveiled in September and will be available for sale in the spring of 2010. Under the deal, GM Europe will move production equipment to the Trollhattan factory to allow Saab to build the new 9-5. The new 9-5, which is based on GM's Epsilon 2 platform, is a much more sophisticated car than the current 12-year-old model, hence it has high sales expectations. The Swedes reportedly want at least 3% of the "profitable" global large car market, which accounts for around 1.2 million cars per year. Annual production is set at 45,000 units, not much different from the outgoing model.
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