GM has officially announced the death of the Saab brand. In what is going to be a sad day for all the Saab lovers out there, GM has announced that the talks with Spyker to acquire the brand have ended, leaving no other suitors. Last month Koenigsegg unexpectedly withdrew its bid for the brand.

“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. In order to maintain operations, Saab needed a quick resolution,” said GM Europe President Nick Reilly. “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. This is not a bankruptcy or forced liquidation process. Consequently, we expect Saab to satisfy debts including supplier payments, and to wind down production and the distribution channel in an orderly manner while looking after our customers.”

Related Posts

• GM and Koenigsegg Come to an Agreement Over Saab Sale
• GM Extends Saab Bid Deadline and Production Expected to Restart
• Saab Wants to Use the Mini Platform for the Saab 9-1
• Saab Saved Again…Sells 30 Percent Stake to China’s Hawtai
• Saab Deal with Hawtai Motors Falls Apart
• Saab to Restart Production After Six-Weeks Off
• Saab Production Stops Again due to Parts Shortage
• Motorsports, Saab, Rumormill
• Car Buying, Sedan, Performance, Wagon, Saab, UK
• Government/Legal, Saab