Poor Saab can’t catch a break. Last week Saab’s European supplier were putting pressure on the Swedish automaker to declare bankruptcy, and this week the car company has pulled out of next months Frankfurt auto show, due to a lack of finances.
A Saab spokesperson explained that the car-maker will concentrate its resources on restarting production at its factory in Trollhatten, Sweden.
Saab was forced to end production in late March because of financial issues. The Swedish automaker has been trying to raise more funds and has stated plans of restarting manufacturing in a few weeks, however the car brand has said this for months.
“Whilst it would be desirable to be at the show to help further Saab’s global presence, it is not considered an appropriate use of resources at this time,” a posting on Saab’s Inside Saab blog stated.
[Source: Automotive News]