Yes, we’ve done this before, two years ago to the day…
Saab has, once again, broken the limits of its owners. This time it’s not GM, like it was in 2009, but current stewards of the Saab brand Swedish Automobile who have said, “This is the end.”
More correctly they have lodged an official notice stating: “Swedish Automobile N.V. (Swan) announces that Saab Automobile AB (Saab Automobile), Saab Automobile Tools AB and Saab Powertrain AB filed for bankruptcy with the District Court in Vänersborg, Sweden this morning [19 December].”
Actually, GM has still played a leading role in the latest fall of Saab. Swedish Automobile has been trying to negotiate a sale with Chinese auto manufacturers Pang Da and Youngman. However, much of the Saab 9-3, 9-5 and 9-4X model lines rely on GM technology. And as GM retains preferential shares they have been able to scupper sale plans on intellectual property grounds.
Nice one GM.
Swedish Automobile’s full statement can be read after the break. For more coverage keep a watching brief on SaabsUnited.
[via Car]