GM Sells Saab to Spyker
It’s official. Finally.
General Motors has sold Swedish brand Saab to Dutch supercar-maker Spyker for a reported $74 million in cash. While that doesn’t sound like much money, it would have cost GM around the same amount or more just to wind down the company if no deal had been completed. GM will retain a $326 million stake in the new company but only 1% of the voting rights, according to the Wall Street Journal.
A new company called Saab Spyker Automobiles will be formed, and it will continue to develop and sell Saabs into the future, including the new 9-5 and 9-4X pictured above that we’ve told you about on many occasions.
How this sale will affect current Saab dealers in the U.S. is unknown, but we expect any franchises still holding on will wait out plans from the new company. A GM spokesman sounded extremely optimistic about the deal, saying, “Today’s announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM.”
It’ll be interesting to see if Saab will flourish with this more independent-minded owner at the helm. We’ll continue to follow the story in terms of when new products like the 9-5 and 9-4X crossover are heading to market.
