Saab Nears Demise

GM’s deal with Swedish carmaker Koenigsegg has fallen apart.  In another downturn for the General (following Saturn and Opel), the other party pulled out of negotiations due to production concerns.  Koenigsegg, builder of Scandinavivian supercars, came to the assessment that Saab’s financial state was too dire to manage, sales far too low, and resources for recovery nil.  GM management has been under a panic, having had to kill off a third of Saab’s US dealer network already; the Koenigsegg announcement was an unwelcome morning surprise.  CarVersation reported months back that there were doubts within  Koneigsegg on how to rebuild the brand with only a new 9-5 in the pipeline.