Rest in Peace SAAB

Thanks to Carscoop for the nice photo.

"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. 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."

These were the words of GM Europe President Nick Reilly. It is now official: GM is closing down Saab. But, their could be a second life for Saab because before Saab's death, they had an agreement with China's BAIC that they would be able to sell the current-generation Saab 9-5 (but not the 2010 model shown in Frankfurt) and some of the 9-3 models. What we do not know is what will become of th upcoming 9-5 Sedan and the 9-4x. Stay tuned for more information.

Thanks to carscoop for the nice photo