GM will decide Saab's fate quickly, Sweden willing to help, but not buy

Yesterday all three of America's major carmakers revealed their future plans to Congress, and a part of General Motors' was the possible sale of Saab. While the brand is still being reviewed, and no decisions have yet been made, GM says it will make the choice to keep or sell quickly.

"We will work to bring a resolution to this. Sooner is better," said GM vice chairman and COO Fritz Henderson in a conference call on the matter. "We will look at all the possible options, including possible sale, starting immediately," he said.

No time line for the review has been given, reports Automotive News. In the mean time, both GM and Ford are seeking aid from Sweden in order to help improve the financial health of the two Swedish brands.

For its part, Sweden has disavowed any intent to buy either Saab or Volvo, but says it is willing to offer aid, reports The Detroit News.

"I don't see it as the government's task to own automakers," said Industry Minister Maud Olofsson. "I think the taxpayers have to understand that it is a risky project to invest their money and buy either Volvo or Saab at a time when there are such great losses."

Who, then, might be interested in buying the brands is an open question. Olofsson says, "there aren't any lines forming of buyers who want to invest in the auto industry." But Saab CEO Jan-Ake Jonsson has told Swedish radio that "there are many interested parties," though he refused to name names.