Currently reading: Saab 'must sell by end of year'
GM says it has interested buyers, but says they have only a month to secure deal

GM has issued a statement saying it has had "expressions of interest" for Saab, and that it will evaluate potential bids before the end of December.

However, if it does not consider any of the bids serious it has confirmed it will wind Saab down from the start of next year.

"The GM board of directors has received expressions of interest in Saab since the conclusion of negotiations with Koenigsegg Group AB," the GM statement said.

"The board will evaluate potential bids between now and the end of December. At that time, we will determine whether a suitable arrangement for Saab exists. If not, we will begin an orderly wind-down of the global Saab business at that time."

GM declined to name Saab's potential buyers, citing non-disclosure agreements.

Reports suggest there are four interested buyers for Saab, including US investment firm Merbanco, China's Beijing Automotive (BAIC) and US holding company Renco Group.

A fourth, unnamed group, is said to be "an international group with several countries represented, but not Sweden" according to reports.

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hyf 2 December 2009

Re: Saab 'must be sold by end of year'

I am on my second SAAB 93. It would be a shame to see the brand disappear as I have found the 93 SW an ideal replacement for the Rover 75 estate (this brand also having disappeared). I appreciate having a vehicle different to the run of the mill German and mass market manufacturers. It would be very sad to see it's demise' also particularly as their dealer Concept SAAB has been excellent for sales amd service.

sorrel 1 December 2009

Re: Saab 'must be sold by end of year'

The fourth group is Spyker. Check for all the latest on this!