Home > News > NEWS: Saab officially canned!(No)(Yes)(No)(Definately no)

NEWS: Saab officially canned!(No)(Yes)(No)(Definately no)

Update No.3: Finally! Spyker has succeeded in it’s pitch to absorb Saab and all it’s liabilities. The debt-ridden manufacturer of the small volume Spyker supercars have not announced their plans for the future with the Swedish brand yet but I’m surely looking forward to it once they do.

Update No.2: Bernie and his partners have stepped down from the offer along the other parties except persistent Spyker. GM on the other hand has announced that they’re still in talks with Spyker but won’t rule out winding the Saab brand down.

Update: Ok Saab’s back on life support. This time more parties are interested including F1 supermo Bernie Ecclestone.

MUNICH — Saab will be closed down, its parent General Motors Co.announced today after concluding that a sale of the Swedish brand to Dutch niche car maker Spyker Cars NV could not be completed quickly enough.

“We regret that we were not able to complete this transaction with Spyker Cars,” GM Europe President Nick Reilly said in a statement. “We will work closely with the Saab organization to wind down the business in an orderly and responsible manner.”

Reilly added that Saab’s closure is neither a bankruptcy nor a forced liquidation process.

“Consequently, we expect Saab to satisfy debts including supplier payments,” Reilly said, “and to wind down production and the distribution channel in an orderly manner while looking after our customers.”

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