Car Industry

Still Hope For Saab?

Swedish-based carmaker Saab could still be sold, despite the collapse of sales talks with Koeniggsegg earlier this week, according to the number two at the Swedish Industry department, Jöran Hägglund.

He is to travel to Detroit next week for talks with Saab's owners General Motors.

Hägglund says that GM and the Swedish government are talking with other possible buyers. Speaking to Swedish Radio News, he says he still has hope for Saab:

SR: So there are still some interested parties following Koenigsegg's rejection?

- There are, that's right.

SR: So there is still hope?

- I've said that the whole time. Because GM themselves have said that they aren't giving up hope, I think that still applies.

Saab was sold to General Motors about two decades ago and hasn't made a profit since then, GM decided to sell the company earlier this year. The Swedish Government is refusing to consider nationalising the company, saying they aren't in the car-making industry. Tiny Swedish car manufacturer Koeniggsegg pulled out of takeover negotiations last week, blaming delays in financing negotiations.