General Motors has announced that it has a tentative deal to sell Saab to Swedish super car builder Koenigsegg Group AB
"Closing this deal represents the best chance for Saab to emerge a
stronger company," said GM Europe President Carl-Peter Forster.
The financial details of the transaction remain undisclosed but Koenigsegg builds an ultra expensive supercar with about 50 employees
and Saab sells ten of thousands of cars around the world with a
thousands of employees.
According to the Wall Street Journal:
"Saab, part of GM since 2000, was put up for sale earlier this year
as part of GM's efforts to return to profitability. Saab has been
loss-making for several years and has suffered an even sharper drop in
sales than the other brands being sold or closed in GM's
reorganization.
Just 783 Saab models were sold in the U.S. during May, a fall of
64% and less than the Hummer truck brand being offloaded to Chinese
investors. May sales in Europe slumped 66% to 2,191 last month,
according to data released Tuesday.
Last year, Saab sold a little less than 94,000 cars. It employs
about 3,400 workers, most at its main factory in Trollhattan in
southwestern Sweden."
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