Another Swedish Brand Succumbs
Hot on the heels of Saab’s likely demise, another iconic Swedish brand, Volvo, is to be sold to the Chinese.
Ford announced last week that agreement had been reached to sell its subsidiary, Volvo Cars, to China’s Geely Automotive for a reported $AUS 2.26 bn. (Ford acquired Volvo for $6.45 bn. US just ten years ago).
Saab To Shut Its Doors
A last ditch attempt to sell Saab to Spyker Cars has failed, forcing General Motors to announce “an orderly wind-down of Saab operations”
The demise of the very distinctive, if slightly quirky Swedish car maker is a direct result of the Global Financial Crisis and General Motors plans to dispense with its non-performing overseas assets.
The Worst Failures
We’ve had some pretty bad cars foisted on us in the past. We’ve also had some pretty awful marketing failures.
We’ve listed our top five here:-
Now Saab Stays With GM
After GM’s about turn by withdrawing from the sale of their German offshoot Opel, and their British brand Vauxhall just three weeks ago, now comes the surprising news that they will continue to own their Swedish carmaker Saab.
General Motors announced last June that they had reached agreement to sell Saab to Swedish ultra luxury sports car maker Koenigsegg, and most thought it to be a ‘done deal’ until recent doubts surfaced about whether it would be completed.
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