VH_Supra26
01-09-2009, 10:14 AM
by Nelson Ireson
http://www.motorauthority.com/content/thumbs/s/a/saab_9x_air_concept_main630-0917-636x360.jpg
Production of future vehicles, such as the possible 9-1 inspired by the 9X Air Concept, is in limbo
Since General Motors put Saab under strategic review late last year as part of its Congressionally-mandated plan to return to viability, it has been shopping for buyers. News from within the company today reveals that there has been no serious interest in the brand.
A source within GM revealed the lack of buyers to Automotive News, noting that GM has failed to sell off its Hummer brand as well. The trouble in getting rid of the brands could be explained as simply as a symptom of the global economic situation, and especially the downtrodden auto industry - risk aversion and low cash reserves would keep almost all potentially interested buyers from making offers. On the other hand, it may reflect something more endemic to the brands themselves.
The reason both Hummer and Saab were put under strategic review, according to Bob Lutz, is that "they're not working and something needs to be done." Both brands are struggling in the marketplace, and have been for some time, possibly decreasing their attractiveness for companies looking to expand their portfolio.
In the interim, while GM continues to investigate 'strategic' alternatives for Saab, there is help from both the U.S. government via the parent corporation and directly for Saab via the Swedish government. The proposed $3.4 billion aid package for Saab and Volvo - itself up for sale by Ford - would offer enough cash to set right their finances and keep them going at least in the short term.
Whether that will be enough to entice buyers, and whether the market will produce favorable conditions before more drastic options must be taken remains to be seen.
All Content Copyright 2006-2008 Motor Authority
http://www.motorauthority.com/gm-finds-no-buyers-for-saab.html
http://www.motorauthority.com/content/thumbs/s/a/saab_9x_air_concept_main630-0917-636x360.jpg
Production of future vehicles, such as the possible 9-1 inspired by the 9X Air Concept, is in limbo
Since General Motors put Saab under strategic review late last year as part of its Congressionally-mandated plan to return to viability, it has been shopping for buyers. News from within the company today reveals that there has been no serious interest in the brand.
A source within GM revealed the lack of buyers to Automotive News, noting that GM has failed to sell off its Hummer brand as well. The trouble in getting rid of the brands could be explained as simply as a symptom of the global economic situation, and especially the downtrodden auto industry - risk aversion and low cash reserves would keep almost all potentially interested buyers from making offers. On the other hand, it may reflect something more endemic to the brands themselves.
The reason both Hummer and Saab were put under strategic review, according to Bob Lutz, is that "they're not working and something needs to be done." Both brands are struggling in the marketplace, and have been for some time, possibly decreasing their attractiveness for companies looking to expand their portfolio.
In the interim, while GM continues to investigate 'strategic' alternatives for Saab, there is help from both the U.S. government via the parent corporation and directly for Saab via the Swedish government. The proposed $3.4 billion aid package for Saab and Volvo - itself up for sale by Ford - would offer enough cash to set right their finances and keep them going at least in the short term.
Whether that will be enough to entice buyers, and whether the market will produce favorable conditions before more drastic options must be taken remains to be seen.
All Content Copyright 2006-2008 Motor Authority
http://www.motorauthority.com/gm-finds-no-buyers-for-saab.html