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End of the road... - GM to close Saab

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A sad day as another great manufacturer goes to the wall. The iconic Swedish carmaker looks set to ride off into the sunset.

For a while, it looked as if Saab was saved from extinction. Supercar manufacturer Koenigsegg was in the running to buy fellow Swedish company, but that fell through - then Spyker threw its hat into the ring... and it fell through. And now parent company GM has called time.

Parts of Saab have been sold off, though - the Beijing Automotive Industry Holdings Corporation has agreed to buy tooling and Intellectual Property for the 9-3 and outgoing 9-5 models, so these models (but not the Saab name) will live on in China.

GM has promised to continue honouring warranties, and the company's debts will be settled, according to GM Europe President Nick Reilly.'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 Reilly. Saab follows other GM brands Pontiac and Saturn into the car graveyard leaving just Chevrolet, Buick, Cadillac, GMC, Holden and Vauxhall/Opel in the protfolio...

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