GM will not sell Saab 9-4X and 9-5

Filed under:GM, American, Saab, Spyker,
Let's say General Motors wants to shut down Saab, well... the firm refuse selling the remaining assets of the unit from Sweden, including the 9-4X or the brand new 9-5. John Smith, vice president of GM - corporate planning, alliances, stated that General Motors aims on closing the company as soon as possible, refusing to say anything about the possibility of reaching a brand new contract for the sale of Saab before December ends.

He stated on insideline.com: 'It is very much possible as part of the wind-down process there might be expressions of interest among the assets of Saab, but at the moment, I'm not aware of any'.

'We're going to begin the wind-down process. It is possible that during the wind-down, any number of people could come forward and express interest. There were vehicles that are in development that I imagine would be attractive to some folks, but that has not been our focus. I can't rule it out, but the clock starts now as we start the wind-down process'.

The most important reason behind the closure of Saab is unknown plus, as far as General Motors is concerned, that will remain unchanged. Smith was asked by the reporters why the investors gave out, walking away from the contract. He replied 'I respect the question, but the details of the issues that arose during the due diligence process are not items that we can share at the moment. Suffice it to say we tried very hard in a not very long period of time with representatives of Spyker to find a solution for Saab. But it's a complicated business. It shouldn't surprise anybody that in a short period of time, issues can arise. I appreciate that you'd like a lot of the details, but it's not something that I'm prepared to share today. Everybody worked really hard to make this work and sometimes things don't work out'.