Home News Report: GM to Close Saab
Report: GM to Close Saab
Friday, 18 December 2009 11:20

After "issues" arose during due diligence in Dutch automaker Spyker's bid to buy Saab, General Motors announced today that they have decided to shutter the brand for good. The NY Times and other news outlets are reporting that no other buyers will be considered.

Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time. We regret that we were not able to complete this transaction with Spyker Cars. We will work closely with the Saab organization to wind down the business in an orderly and responsible manner. -- Nick Reilly, President of GM Europe, on 2009-12-18

GM will continue to honor warranties for all Saab cars, and will continue to make parts available for the near future.