Saab-Koenigsegg Deal Falls Through

Edward Niedermeyer
by Edward Niedermeyer

A press release [via] confirms that Koenigsegg has withdrawn from negotiations with General Motors over the sale of Saab. Fritz Henderson shares his disappointment:

We’re obviously very disappointed with the decision to pull out of the Saab purchase. 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.

Why did Koenigsegg pull out? A brief statement by Koenisgegg is all we have to go on at the moment. “The time factor has always been critical for our strategy to breathe new life into the company,” the firm tells Reuters. Which leaves… BAIC? Absent any other obvious interest in the Saab brand though, GM now finds itself with two messy restructurings in Europe.

Edward Niedermeyer
Edward Niedermeyer

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  • Saabtrue Saabtrue on Nov 24, 2009

    Unless you have ever owned or even driven a Saab, you won't understand what this brand was and still is all about! These are special cars. I own 5 of them currently. I hope the GM board can find it in their hearts to keep it going!

  • John Horner John Horner on Nov 24, 2009

    Saab has been a money loosing operating for at least two decades now. GM mismanaged the brand so horribly that there is very little brand equity left in the thing.

    Selling to the Chinese would be a bad strategy for GM because 1) China is GM's best market right now ... why help competitors? and 2) The reason for a Chinese company to buy Saab would be to be better able to compete in export markets and to get more expertise. Helping your competition is rarely a good strategic move.

    Sadly, the only thing left to do is to shut it down. Or .... if the rumored "Crown" deal to buy Volvo out with a mostly Swedish team of money men and managers is true, then Crown-Volvo might pick up the pieces of Saab at the auction block.

    • Bill h. Bill h. on Nov 25, 2009

      There may be some Saab enthusiasts who would agree with you--better to go down on one's own terms than to keep limping along as a shadow under GM's cluelessness.

  • Raptorboy Raptorboy on Nov 25, 2009

    I have owned a 2002 Saab 9.3 for 7 years now. It has many modifications that have made it a street legal tuner pushing 250 hp. It has nowbecome a second car with 170K on it. It still runs great, gets 30mpg, has never had any major issues, and you can run a well cared for Saab 250K plus miles.......Refresh my memory GM, but how many cars in your line have that track record? GM butchered this brand as it was never going to be a mainstream car. They should have made the deal in Sweden work.

  • Moremony Moremony on Nov 25, 2009

    Russia and China are in contract to cooperate on grand infrastructural projects that will need trucks', tractors', of different designs, weights, payloads, capacities, ect.. GM ought to see if they can get in on that action. Send a salesman and get to work. GM can use its' excess industrial capacity at home in creating a modern mass-transit system and freight train facilities; nuclear generation facilities can be manufactured in the modular and transported anywhere in the nation or around the world. Attorney Moremony