Say Goodbye to Saab
If you drove a Saab to work today or have one sitting in the garage, you could be the proud owner of a collector’s item. Today, Saab will join Oldsmobile, Plymouth, Studebaker and countless other auto manufacturers as a footnote in automotive history.
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General Motors has decided to shut down Saab for good after yet another attempt to sell the Swedish car manufacturer failed. The ending of the Saab line of cars comes just months after GM began the process of selling its Hummer line of automobiles to Chinese investors.
Gm attempted to work with two separate potential buyers in order to sell off the Saab brand, but deals could not be reached with either. Earlier this year, GM attempted to negotiate with Swedish car manufacturer Koenigsegg and later Dutch car maker Spyker, but deals could not be reached with either. GM executives have not revealed what prevented either deal from being completed.
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Despite the fact that GM is ending production of all Saab cars, buyers will still be able to purchase some of the manufacturer’s assets and even the brand name – there just hasn’t been any interest. Gm says that 3,400 jobs will be eliminated with the Saab brand.
The closing of Saab is just part of GM’s restructuring after declaring bankruptcy. In addition to selling off Hummer, GM is already closing its Pontiac branch and shut down Saturn after failing to sell the brand to Penske Automotive in September. After Saab closes its doors for good, GM will have four remaining brands – Buick, Cadillac, Chevrolet and GMC.
Saab began as an airplane manufacturer in Trollhättan, Sweden in 1939. The name stands for Svenska Aeroplan AB, which is Swedish for Swedish Aeroplane Limited. The company began manufacturing automobiles in the late 1940s.General Motors purchased the brand in 1989, bringing its ownership of the company to an even 20 years.
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