2013 Cadillac XTS

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

 
1 3,101 views Dec 3, 2008
Follow Nelson

The Swedish government has confirmed that it has been in contact with Fiat regarding Saab

The Swedish government has confirmed that it has been in contact with Fiat regarding Saab

Enlarge Photo
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.



Tags:
Posted in:
 
Contribute
Send us a tip Comment Contact the editor
Follow Us

 

Have an opinion?Join the conversation!

  • Posting indicates you have read this site's Privacy Policy and Terms of Use
  • Notify me when there are more comments
Comment (1)

  1. ma_mburleigh8 avatar mburleigh8 Posted: 12/3/2008 6:09pm PST

    I say sell it, Im not a sabb fan.
     
    Post Reply
    Vote
    Bad stuff?

 

Have an opinion?Join the conversation!

Connect with Facebook

Motor Authority. Now with your friends.

Discover stories your friends read.
Share stories more easily.
You control what you share.
Learn more

Research New Cars

Go!


More from High Gear Media

 
 
MotorAuthority
  • Follow Us
  • Twiiter
  • Facebook
 
 
© 2011 MotorAuthority. All Rights Reserved. MotorAuthority is published by High Gear Media. Stock photography by Homestar, LLC. Send us feedback.