The US-based manufacturer preferred to sell a number of assets to Chinese BAIC DESPITE Spyker's warning that it would stop negotiations in case this really happens. Unfortunately, the aforementioned scenario became reality leaving GM with only one option: kill Saab and its global operations. Money indeed talks...
“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.”
We won't get into why General Motors preferred to discontinue the brand rather than fight to keep it alive. Rumors emerging just after the company sold Saab's assets to BAIC proved to be true, once again supporting the idea that the US-based manufacturer was planning to get rid of the Swedish unit from the very beginning. Still, we can't help but wonder what happened with the 27 bidders once interested in taking over Saab...
GM's reply? "The focus will remain on the four core brands – Buick, Cadillac, Chevrolet and GMC – and several regional brands, including Opel / Vauxhall in Europe. This will enable the company to devote more engineering and marketing resources to each brand and model."
It seems the road ends here for the company that started out in 1946 when Saab commenced work on the first running prototype known as Saab 92.001. Sad day for the Swedish guys...
R.I.P. Saab.
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