General Motors May Be On The Verge Of Selling Saab For Just $1

 Amid rumors that Swedish car maker Saab could be sold for a nominal $1, Swedish businessman Lars Carlstrom told Dow Jones Newswires Wednesday that his consortium will submit a revised offer for the company.

For the bid to be successful, Carlstrom's consortium, which includes Luxembourg-based investment firm Genii Capital and Formula One motor racing entrepreneur Bernie Ecclestone, will have to convince Saab's parent company General Motors (GM) that it has a sustainable long-term business plan for the brand.

"We will submit a clarification, regarding liquidity, cash, and other things," Carlstrom said Wednesday, adding "we're working on it."

Dutch luxury car maker Spyker Cars is also bidding for Saab.

"We are trying to reach agreement with GM on several outstanding issues," Spyker Chief Executive Victor Muller told Dow Jones Newswires Tuesday, adding he expects a final answer from GM by the end of this week.


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pennfootball - 1/19/2010 2:54:03 PM

-2 Boost

I will give them 2 dollars and buy a crap load of engines from Honda and put them in Saab's and turbocharge the BaJesus out of them...then use the new Visteon graphics panels and buy a new nav system from Garmin people will buy them ASAP! Problems solved!

Joe_Limon - 1/19/2010 4:55:35 PM

+6 Boost

That comment makes you sound like your sole experience with cars is playing need for speed.

shabaru - 1/19/2010 8:14:18 PM

0 Boost

WHY SELL IT FOR ONE DOLLAR????... I thought that Spyker had an offer to buy Saab and I was most definitely sure that IT HAD TO HAVE BEEN MORE THEN A DOLLAR......

yoyo123 - 1/22/2010 5:48:17 PM

+1 Boost

VW should buy them, first treatment to REDESIGN, swap the saab turbo to the current 2.0t vw engine/audi 3.0t engine (for high performance), (even give it the quattro system), next improve interior quality and elegance to match audi and give it the same five star safety treatment. Improve handling and braking. Lastly release a lot more models including a sporty coupe and large sedan.