Industry News
GM Hires Firm For Orderly Saab Wind Down Despite Ongoing Sale Talks
By by Stu Fowle
Jan 8, 2010, 08:22

We've been a bit mum on the subject of fellow Swedish brand Saab's probable demise through the past months because frankly, Volvo's own sale has been enough of a soap opera to keep track of. Tracking all the depressing, confusing Saab news would just be too much to deal with. But finally, it looks like the sun is setting in Trollhattan.

That march on Detroit the other day, where loyal Saab owners set up outside the Renaissance Center and pleaded for Saab's survival, must not have worked so well. This morning, one day after the supposed "soft deadline" for Saab to be saved, GM released the following short press release:

GM today confirmed it has selected AlixPartners to supervise the orderly wind down of Saab, and has requested approval of the selection by the appropriate authority in Sweden. The use of a wind down supervisor is a commonly-used process in Sweden and works in the interest of the shareholder.

The wind down process is expected to take several months, and will ensure that employees, dealers and suppliers are adequately protected. As stated previously, Saab customers can be assured that warranties will continue to be honored and that service and spare parts will continue to be available.

GM also confirmed that it has received several proposals for Saab and is continuing to evaluate these proposals. This evaluation is not affected by the appointment of AlixPartners.

So there. Saab is winding down, but it is also still for sale. This might be the best example of that whole "Get it before it's gone" sales mantra ever. If someone doesn't buy Saab soon, there literally won't be anything left. We wish the best, regardless of what happens, for the employees and fans of the Saab brand, and hope everything is as "orderly" as GM hopes. And if the worst happens, Swedespeed of course invites any Saab expatriates to find solace among our support group of fellow Swedish car lovers. We think maybe Volvo should offer a special deal for any customers looking to replace their Saabs with a Volvo. But then again, what dealer would want a stock pile of used vehicles from a dead brand?

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