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