Saab's Future Could be Decided Next Tuesday

It's been confirmed that Saab's American car owners General Motors will meet on Tuesday next week to discuss the future of its iconic Swedish auto subsidiary after a deal to sell the unit to luxury car-maker Koenigsegg collapsed.

"We're obviously very disappointed with the decision to pull out of the Saab purchase," said GM President and CEO, Fritz Henderson. "Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week."

With GM focusing on its key domestic brands Chevrolet, Cadillac, Buick och GMC, many car analysts in the States believe that General Motors will decide in its regular monthly board meeting on Tuesday to wind down Saab.