Today, GM announced that the sale of Saab to Dutch supercar-maker Spyker Cars fell through, and it will begin dismantling operations of Saab immediately. This follows last month’s failed sale of the brand to Swedish supercar-maker Koenigsegg. That misstep and the inability to complete a sale of the Saturn brand were two knocks against former GM CEO Fritz Henderson.
GM says all warranties will be honored, and it will continue to make spare parts available.
The only reason GM gave for the failed sale was that the timetable to complete such a transaction would take too long and wouldn't allow the company to maintain its current pace to produce and sell new cars.
Earlier this month, GM sold older Saab technology and models to a Chinese company but not future lines like the
new 9-5 and 9-4X crossover.
This is another sad day for car enthusiasts as GM’s bankruptcy has now accounted for the death of three brands, including the iconic Pontiac brand as well as Saturn.