Saab's New 9-5 May Be Buried Forever
General Motors would rather close Saab than sell it to a bidder that it didn't believe in. The announcement by GM executive Bob Lutz came as 3,400 workers at the company's Swedish headquarters returned to work after a four week extended Christmas break.
Speaking at the Detroit car show, Lutz , who's not directly involved in the sale of Saab, told the TT news agency that GM wouldn't sell Saab to a buyer it didn't believe in because otherwise "we would be stuck with all the costs."
Lutz though denied reports in the media at the weekend that GM would be shifting work on the new 9-5 model to China where it would reappear under the badge of one of its main brands in Buick.
He did say though that it was possible that the long awaited 9-5, which is being developed in Sweden, may never see the light of day. GM began the process of winding down its loss making Swedish brand last Friday when the unit was put into liquidation despite last-ditch bids by Formula One boss Bernie Ecclestone and Dutch sportscar maker Spyker among others.
GM has received several proposals for Saab and would continue evaluating the proposals. This evaluation would not affected by the appointment of a liquidator.