GM Not Planning to Sell Saab 9-5, 9-4X

Even if GM wants to kill Saab, the company has no intentions to sell the remaining assets belonging to the Swedish unit, including the new 9-5 or the 9-4X. John Smith, GM vice president of corporate planning and alliances, said in a statement that GM aims to shut down the brand as quickly as possible but refused to comment on the possibility to reach a new deal for Saab's sale by end-December.

"It is very much possible as part of the wind-down process there might be expressions of interest among the assets of Saab, but at the moment, I'm not aware of any," he said according to insideline.com.

"We're going to begin the wind-down process. It is possible that during the wind-down, any number of people could come forward and express interest. There were vehicles that are in development that I imagine would be attractive to some folks, but that has not been our focus. I can't rule it out, but the clock starts now as we start the wind-down process."

Still, the main reason behind Saab's closure is unknown and, as far as GM is concerned, it will remain so. Asked by reporters what made all the investors walk away from the deal, Smith replied in an evasive manner:

"I respect the question, but the details of the issues that arose during the due diligence process are not items that we can share at the moment. Suffice it to say we tried very hard in a not very long period of time with representatives of Spyker to find a solution for Saab. But it's a complicated business. It shouldn't surprise anybody that in a short period of time, issues can arise. I appreciate that you'd like a lot of the details, but it's not something that I'm prepared to share today. Everybody worked really hard to make this work and sometimes things don't work out."