Saab deal falls apart as the brand nears extinction
Swedish sports car maker Koenigsegg Group AB has come to its senses. The company decided to pull out of its earlier agreement to buy Saab from General Motors. Barring some new edict from GM’s board, the auto maker will likely just wind the brand down. Management doesn’t want to keep it, say two GM executives familiar with the company’s planning. So unless the board overturns their wishes, Saab will join Pontiac and Saturn on their way to the auto industry’s Boot Hill. For …
David Welch
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Auto Beat - BusinessWeek