Could Saab die?

Saab could face closure as supercar maker Koenigsegg drops out of its planned purchase

Saab 9-5

Could Saab face closure? That’s certainly the fear its fans and employees face tonight, after the company’s prospective buyer, supercar-maker Koenigsegg, pulled out of its acquisition of its fellow Swedes. The confirmation comes from the seller, General Motors: ‘We're obviously very disappointed with the decision to pull out of the Saab purchase,’ said GM President and CEO, Fritz Henderson.  ‘Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week.’ GM had previously suggested that a failure to find a buyer by the end of 2009 would lead to the closure of Saab. Whether the surprise of Koenigsegg’s decision leads to a stay of execution remains to be seen. We’ll keep you posted… Would you miss Saab? Or is this for the best? Go to the Forum…Follow evo on Twitter for the latest performance car news

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