Sunday, December 07, 2008

SAAB might be sold by GM

According to a report by Bloomberg which cites unnamed sources, GM is considering dropping the Saab brand amongst other marques in efforts to continue raising enough money to continue operating. It has also appointed a real estate agent to sell some of its European assets worth over US$250 million.

Both attempts could be hard in this economy when everyone is reluctant to spend, so it might be tough to find buyers for its unnecessary buildings or brands such as Saab. There has been speculation that the Swedish government have been keeping an eye on Swedish brands Saab and Volvo which belong to GM and Ford respectively, and might pick them up if their Detroit owners decide to sell them.

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