Sometimes it can be difficult to keep pace with all the events in the motoring world – but has there ever been a more dramatic 24hrs for one car company than the last day for Saab?
Seemingly written off just days ago as GM announced the wind-down of the brand (see article), the company now has renewed hope as Dutch luxury car maker Spyker submitted a new offer.
According to Spyker’s chief Victor R Muller, the company has submitted an 11 point proposal addressing the issues that originally ended the talks. He stated he was “very confident” that negotiations could resume and lead to an eventual sale. GM originally set a deadline for negotiations of December 31, and Muller is confident that a deal could be concluded ahead of that original marker.
If Saab survives it would be a huge boost for the Swedish economy – currently the brand employs 3,400 people in the country with GM estimating that around 8,000 people would suffer from a planned closure.
GM has taken steps to become a leaner company after emerging from bankruptcy protection in July this year following a sharp slump in sales. It plans to retain only the Buick, Cadillac, Chevrolet and GMC brands, as well as the Opel/Vauxhall brand in Europe. Saab lost £255million last year and has not made a profit since 2001.
Paul is a freelance writer with a background in everything from motoring to finance; and holidays to women's undergarments he just writes about them, honestly! He has now sadly crept into his early 30s and seems to have forgotten everything learned at school Still, he's a green car fanatic and isn't that what counts?
No comments yet.