'GM To Sell Saab By March'

GM To Sell Saab By March

By Parker Pen at 12/29/08 17:55

We have received a new that in order for GM to generate more money while waiting for the bailout that is still pending negotiations from the US government, GM plans to sell one of its luxury brands, the Sedish car maker Saab.

Sources said that the GM has come up with will wait up until March of 2009. By the time, GM knows fully what to do with Saab. Some said the Swedish car company can either be sold by GM or either put it into closure. Eitherway, we still don't know what will really happen to Saab not until March of next year.

It's a pity that we may be seeing the last of the Saabs now. Saab, (Svensk Aeroplan Aktiebolag in Swedish) originally was part or a division of the Swedish Aeroplane Company, the company that do commissions for the Swedish Air Force.

At the end of the World War II, where no more 'war related stuff' can be given to the company, it looked for a new market. 1944 saw Saab's intro into the commercial car making with their Project 92, which saw the first Saab passenger car.

To make the long story short, Saab enjoyed its good fortune during the 50s, 60s, 70s and the start of the 80s. However, it also has its down times that by 1990, it needed help. So General Motors came to the rescue and bought 50% of the company, while also acquiring the option to purchase it fully within a decade.

Now GM wholly owns Saab but as all good books do, their story is nearing its end. We just hope that whatever happened to Saab, may it be sold or closed, its mark on the car industry will remain for a long time.

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