GM Fails To Send Saab Back To Sweden

After acquisition talks between Swedish company Konigsegg and General Motors fell apart, Saab is without a home. This makes the third division of GM that the company has failed to divest itself of, after Saturn and Germany’s Opel. Saab may be shut down, like Saturn–or kept, like Opel.

GM has a Saab contingency plan similar to the one being used to wind down Saturn, according to the person familiar with the automaker’s consideration of a possible Saab shutdown. Saab owners would continue to be covered by GM warranties and be assigned to a new dealership for service, the person said.

“We will take the next several days to assess the situation and will advise on the next steps next week,” Chief Executive Officer Fritz Henderson said in a statement. “We’re obviously very disappointed with the decision to pull out.”

Considering that Saab has been unprofitable for GM for most of the last 20 years, it will be interesting to see what happens next.

GM May Shut Saab as Koenigsegg Ends Acquisition Talks [Bloomberg]