Should Sweden Saave Saab?
I’ve always thought of Saab as a purveyor of somewhat-overpriced, solidly-built, safe cars. Their clutches always seemed a little grabby to me. On the other hand, Saab is smart enough to put the ignition switch on the floor so it won’t turn your knee into hamburger in a front-end collision. About 10 years ago I almost bought a 9-3 convertible, but settled for an SHO instead.
So the now-bankrupt Saab looks like it’ll be washed away in the Carpocalypse unless Sweden steps in. GM owns Saab now, but Saab wants to escape that black hole.
As we warned yesterday, Saab, GM’s meatball-of-a-badge, officially filed for bankruptcy protection today in Sweden. Remaining to be seen is what role, if any, GM will have with the born-from-jets brand.
From the NYT:
Unmoored from its parent, Saab went to a Swedish court for protection from its creditors, and said the company would – with assistance from the Swedish government – reorganize to pave the way for private investors to buy all or part of the company.
“We explored and will continue to explore all available options for funding and/or selling Saab, and it was determined a formal reorganization would be the best way to create a truly independent entity that is ready for investment,” the managing director of Saab, Jan-Ake Jonsson, said in a statement.
I sensed the beginning of the end when Saab came out with this:
Just what the world needed – another fucking SUV.
So Stinquers, any fond Saab memories?