Saab Going to “Sleep”

In spite of the hopes that GM will manage to sell Saab brand, the negotiations failed once more.

General Motors announced that the deal with Spyker Cars N.V, a Dutch car manufacturer, wasn’t finalized. Nick Reilly, president of GM Europe, said: “Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time.” Also, he regretted that the talks with Spyker were not able to save the GM’s Swedish subsidiary.

GM says that the closing of Saab will not be a forced liquidation, and Saab will honor warranties and parts requests.

You might remember the attractive new 9-5 which was unveiled at the 2009 Geneva motor show.Still, that beauty hasn’t been put to production, and because of the closing, it might never see the streets again.

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Image source: sevencrystal.com; luxury-gadgets.com