The Italian Junkyard

Thoughts, ideas, criticism about cars. Interesting news and facts from the world of the automobile. Events in Italy and Modena. What you can find elsewhere, filtered through the eyes of a discerning enthusiast. Design, style, everything on the chopping block. Nobody is safe anymore.

Tuesday, November 24, 2009

zOMG: Koenigsegg comes back to its sense, won't buy Saab!

Quick update on the situation of Koenigsegg and Saab, words from the official press release from General Motors:

DETROIT -- General Motors confirmed today that the proposed sale of its Saab subsidiary to Koenigsegg Group AB was terminated at the discretion of the buyer.

"We're obviously very disappointed with the decision to pull out of the Saab purchase," said GM President and CEO, Fritz Henderson. "Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week."

I honestly always liked the idea, K's madness married to Saab's quirky cars and fwd layout, backing to the origins somehow. On the other hand I was also skeptical and I was wondering how would K come to have the capacity and sources to run such a larger company when there are even detractor wondering how K itself manages to stay on business (I guess that has something to do with Mr K original business).

Regardless, the deal is over and Saab is now facing some tough days, it has a larger heritage and image than Pontiac, but it never sold enough cars in first place too. For the record, Pontiac as well as Saturn faced the end of their days.
Pontiac wasn't working in the only market where it had some sort of backing (USA), while Saab was struggling world wide, despite being praised by many as an old-fashion brand.
So old fashion that the yet to be released 9-5 was the first new model in some 8 years.

Now what appears to be a solid and interesting car risks to die before of even seeing the light of the day.

Pretty sad I'd say.

Photo credit: Koenigsegg or Saab?

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