Koenigsegg backs out of Saab deal

Koenigsegg backs out of Saab deal

Saab 9-5 fq

After being the hero, Koenigsegg Group AB has just withdrawn from negotiations to buy Saab from General Motors, leaving the Swedish automaker’s future very much in doubt. In a brief statement issued by GM (available after the jump), president and CEO Fritz Henderson says that the company is “very disappointed with the decision to pull out of the Saab purchase.”

The survival of the Saab brand is looking shaky, but there may be some hope for fans with GM saying it will “take the next several days to assess the situation and will advise on the next steps next week.” There was at least one other serious bidder interested in purchasing Saab previous to Koenigsegg becoming the preferred purchaser, but it isn’t immediately clear if they are still interested, or if they had the correct financial credentials.

Speculation is that even if Saab is unable to survive as a brand, someone will step in and purchase the assets to the production ready forthcoming 9-5 sedan and potentially the newish 9-3/9-3X models as well.

Saab 9-5 fq

After being the hero, Koenigsegg Group AB has just withdrawn from negotiations to buy Saab from General Motors, leaving the Swedish automaker’s future very much in doubt. In a brief statement issued by GM (available after the jump), president and CEO Fritz Henderson says that the company is “very disappointed with the decision to pull out of the Saab purchase.”

The survival of the Saab brand is looking shaky, but there may be some hope for fans with GM saying it will “take the next several days to assess the situation and will advise on the next steps next week.” There was at least one other serious bidder interested in purchasing Saab previous to Koenigsegg becoming the preferred purchaser, but it isn’t immediately clear if they are still interested, or if they had the correct financial credentials.

Speculation is that even if Saab is unable to survive as a brand, someone will step in and purchase the assets to the production ready forthcoming 9-5 sedan and potentially the newish 9-3/9-3X models as well.

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