OH GONES

After a thorough assessment Koenigsegg probably realized just how badly Gross Mismanagement (GM) screwed-up Saab.

What sad news. Too bad GM couldn’t figure out an economical way to create a 2-tier group out of a combined Opel and Saab. I wonder what Chinese company will come in and gain Saab through a firesale now. Or maybe it really isn’t worth saving afterall.

100% investment from a chinese firm? A chinese consortium? Any thoughts?

This is the same reason you test-drive a car. It may look great sitting on the showroom floor, but once you do some more investigating you may find out it is a piece of crap. It looks like Gubment Motors is trying very hard to hold on to every little piece… and it is only hurting them more.

In hindsight it always was a bit of a mystery how such a relatively small concern such as Koenigsegg could pull off a deal like this.

wow, GM just keeps getting pounded into the ground! How much of this will they be able to handle?
It’s a shame that saturn, pontiac, hummer, and saab had to be sold or just scrapped because GM’s management sucks, they could have made great cars! I think it seems natural for Saab to have some alliance with volvo and ford…their looks aren’t far off. Saab needs some new technology real fast. If all of us at LLN put a couple of bucks, we could probably buy Saab off of them…cuz it looks like they will be needing money BADLY!!

GM needs to offer saab for sale real cheap to whoever buys volvo. volvo and saab together would be a pretty interesting pair, and GM cannot just close the brand it has way too much history

Well, the Chinese already bought the old 9-5 designs… it probably wouldn’t be hard for them to buy up the new stuff.

hahaha oh gm when will u learn

Come on ya, I don’t know if you guys see it or not.

First is Pontiac that GM mess up, and now Koenigsegg pulls away from the deal. what’s going to be next? Chinese pull out from the hummer deal at end? possible.

All this time GM (aka government motor) still has not learn anything yet.

By the way guys, there is rumor that Ford may keep Volvo but not sure if that is true or not.

@FSVT_ROCK: How old are those rumors? Something fresh?

Very disappointing, especially after I put the new 9-5 on my shopping list for next year.

Oh no Sorry to hear this, the Koenigsegg connection held some hope that SAAB would continue to produce unique, expressive vehicles and would actually eventually return to their Swedish roots. Now I fear we will never see the new 9-4X or 9-5 hit the streets.. at least not as SAABs.

LLN, this is the 3rd deal that has fallen through recently, not the second.

Penske, Magna, now Koenigsegg.

I thought a heard a flushing noise…

‘I’

What we have in government motors is the same collection of imbeciles (OK minus one) plus “government” experts. If it was f*cked up before it haven’t gotten much better and why should it? The next step will be need for more cash, since now they are sort of allowed to spend US taxpayers bucks on foreign investments (it is in their jargon, I would call ‘em foreign losses vs. domestic). We have Daewoo, Opel and now SAAB is back in mother’s lobe. Was Hummer sold? Who knows.

Last week they decide to keep Opel. This week the Saab sales falls through. Coincidence, I think not. Pay your taxes boys. The Saab division needs the cash.

@ gehrhardt: The difference is that GM chose to pull out of the Magna/Opel deal. In this case, as with Saturn, the buyer backed out.

I guess they read on LLN how every SAAB sold loses $5000 to $7500.

Screw SAAB anyway. Best thing to come out of scandinavia is porn stars.

I was excited to see how saab would develop in the future, but this is just devistating.

Damn you GM. This is terrible news

This is not financing falling through, it’s wisdom dawning at Konigsegg. GM lost $5k on every Saab it sold; the division simply cannot be profitable as a stand-alone.

Wasn’t the Saab deal an asset from the old GM? If it was, then I can’t say I’d blame Koenigsegg from backing out.

Most people wouldn’t want to touch those toxic loans from the old GM anyway.

maybe they cancelled their bid so they could put in a new one thats within $5000 of the estimated retail price to win both saab, and the trip to vegas/motorhome/new dining room set

This is too unfortunate for GM but what did they expect? They should have killed them when they had to chance. But instead they kill off Pontiac, which could’ve saved them. After the Aztec, they had nothing to lose. Koinigesegg knew they were way in over their head with something severely screwed by GM. Anything GM was getting rid of so easily should’ve been a red flag all along.

A little too coincedental for me how all these deals are suddenly falling thru……almost like it was planned and they had no intentions of selling these assets off………..wonder if we’ll see a reverse decision on Pontiac and Saturn as well……:|?

Saab will continue as a company for a very simple reason: GM needs Saabs technologies. It’s a fact that is not spoken about by GM in the open since it would not go down well with the retarded public and politicians in the US.

GM is putting out poison pills to thwart these last few sales. Just days ago, GM mysteriously announces that it is losing some $5k per vehicle. Deal dead.

Days before the Saturn sale, GM makes some statements about what will be accessible and what won’t as far as manufacturing to Penske. Deal dead.

Opel has a buyer and an anxious one, until GM decides to kill the sale outright. Deal dead.

The pattern is too blatant to ignore. There is something more to this that needs to be disclosed, especially as Americans have a direct stake in your company. Are the closures to aid in write-offs or some other incentive? It sure as heck is not to win customer support or loyalty.

Don’t be surprised if GM revises its prior deal to spin-off Saab to IKEA.

When you pretend the company is going to be around in the future it is a lot easier to sell your inventory. Then when most of the inventory is sold of you say oops guess we have to close her down. Or maybe it is going to get merged with Opel now that they decided to keep that. Not like I’m going to buy a snaab anyway.

Very sad news. I hope they make an equally surprising last-last-minute reversal and lead the company back to its roots. I can still dream.

You guys are spot-on: GM probably screwed up Saab’s finances and manufacturing arrangements so badly that it took going through all the paperwork and numbers for Koenigsegg to finally realize that their crusade to save the historic brand would likely ruin them financially.

…and this sucks because Saab should have its focus back with their products and this supercar manufacturer would have embraced all the best past examples of the Saab marque in keeping the lineup uniquely Swedish.

Either GM keeps Saab going or an Indian or Chinese company takes it over… or we lose Saab altogether.

@ ochy38

Sorta like Oldsmobile and Pontiac had a long history? Lol, just pointing it out.

What the f@#$ Koenigsegg?!!!! Great. Now the whole Swedish auto industry is f@#$ed now. So much for SAAB being around much longer. Now SAAB joins Volvo in biting the chinese dust!!!

Thanks GM!!! Thanks for killing another good car company!!! You’re like a freaking disease!! Destroy everything you infect!!!

Wow, the intellectual vacuum in the comments is remarkable.

^^^I never pull out.

Saab’s a good brand but its just not viable anymore. I’d hate to see it go but its probably for the best. Most people wont miss it or even notice its gone.