Saab Closing 37% of Dealers

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GM had already canceled franchise agreements with all 218 U.S. Saab dealers earlier this year, but word from Sweden is the new owner of Saab will only renew 137 branches. That leaves 81 stores out in the cold. The new company, which will be owned by Koenigsegg, made the move after sales took a dive of 62% this past year, mainly due to an aging product line.

A Saab spokesman said the new owners “have looked at what is best for Saab, in what parts of the U.S. we should be, and at which dealers that have a good possibility to make good money.”

The redesigned Saab 9-5 shown above will be the company’s first all-new product when it goes on sale late next year.

Saab Terminates 37 Percent of U.S. Dealer Franchises (Bloomberg)