According to a report in Automotive News, General Motors is looking to sell Saab but no one is looking to buy.
Apparently Saab was put under “strategic review” by General Motors as part of its bailout proposal to Congress. The article quotes GM Vice Chairman Bob Lutz as saying that “strategic review” is “’code for we realize they’re not working and something needs to be done.’”
Saab’s sales were down 34.7 percent in 2008 and the auto manufacturer has never sold more than 50,000 cars. In fact, the highest recorded sales year was 1986 with 48,181 units.
Recently Volvo secured bailout money from the Swedish government and it is expected Saab will attempt to do the same in the near future.
[Source: Auto News]