Word has come out that Swedish supercar builder Koenigsegg has backed out of a deal with General Motors to buy the SAAB brand. The Swedish government has announced that it will not act to buy the brand, so it seems that SAAB will be shuttered by GM, and quick.
Eyebrows were raised and heads were scratched when Koenigsegg, a company that hand builds some of the most exclusive and high-performing sports cars in the world, announced that it would buy SAAB from GM. The company employed about 100 people at the time the initial statements were released. We were doubters as were many others, apparently with good reason.
Delays in the closing process were blamed for the collapse of the deal. It is also not out of the question to think that someone finally had the balls to stand up in a meeting and ask the simple question, “How the hell are we going to do this?”
The Wall Street Journal wrote a piece that lays out the details of the situation. Unless some miracle happens, it appears that SAAB is headed the way of Pontiac. It’s a damn shame.
