GM Might Kill Sale Of Saab To Chinese

GM Might Kill Sale Of Saab To Chinese
General Motors Co (GM.N) said on Friday that it would be difficult to support a sale of Saab if the transaction hurt its existing tie-ups in China or its competitive position in other markets.

China's Pang Da Automobile Trade Co (601258.SS) and Zhejiang Youngman Lotus Automobile have struck a deal to buy Saab from its current Dutch owner, Swedish Automobile (SWAN.AS), in what amounts to a rescue plan for the Swedish auto brand formerly owned by GM.

Swedish Automobile, then called Spyker, rescued Saab from closure by former owner General Motors Co (GM.N) in early 2010.



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dumpstydumpsty - 11/4/2011 1:40:43 PM
+1 Boost
Why has SAAB become this constant corporate headache? I feel bad for its labor force, having to live under such huge amounts of uncertainty from month-to-month.

As (Spyker) should have known, any brand tied to GM is a really tough sell...unless the brand name sells itself. Once Spyker had financial issues after purchasing SAAB, it should have been left to fail. Maybe they thought it was going to be an easy way to tap the US market with a known vehicle brand. That could've worked if SAAB had a larger lineup.

If I could purchase SAAB, I would have also offered to purchase Pontiac as well --- otherwise, no deal.


PUGPROUDPUGPROUD - 11/4/2011 4:53:21 PM
+3 Boost
Let me see if I have this right...GM screws with SAAB over all the years it owns it to the point that it is almost worthless and now that it is walking away from SAAB it wants to kick it when its down because its afraid of the potential competition. Shame on GM..shame on GM!


mini22mini22 - 11/4/2011 6:12:38 PM
+2 Boost
This is amazing how this car company has been abused and screwed during the last 20 yrs. It's simply not fair. And the fact that Mueller is out of it now then it looks like they are going to go down thanks to GM.While I'm not pro Chinese necessarily, If I were the Republic of China I would insist on GM approving the sale of this or curtail GM doing business there.There are lots of car companies in China. Further China carrys a big stick. I think Saab should be allowed to survive and be bought by these 2 Chinese auto companies.I would politely send GM a letter telling them that they have a choice to make.


uaw_laxuaw_lax - 11/5/2011 12:16:42 AM
-1 Boost
what you all fail to realize is GM is not opposing the sale of SAAB it dose not want SAAB in the Chinese market. It's simple economics and good business practice. If Saab was sold to a country like a french company im sure there would be no challenge to the deal.


FijianFijian - 11/5/2011 1:45:35 PM
+2 Boost
Maybe the Swedish Government or some wealty Saab Business people can step in and save the company (thus the jobs)


bperlowbperlow - 11/5/2011 7:39:25 PM
0 Boost
Please GM, just kill SAAB. Its the car thats overpriced and underperforming that no one wants.


PUGPROUDPUGPROUD - 11/6/2011 8:15:15 AM
+2 Boost
Come on...the US government saves GM's ass and now it wants to kick SAAB to the curb. Shame on you GM...shame on you !


mini22mini22 - 11/6/2011 6:57:48 PM
+2 Boost
Since when should another car company have the right to dictate where another car company can sell cars? I think it is a bad move by GM to try to block this sale. The Chinese government already manipulates it's currency against other countries. They could very well make it more difficult for GM to operate in their country if they wanted to. GM is playing with fire.


PUGPROUDPUGPROUD - 11/7/2011 9:52:38 AM
+2 Boost
To billfrombuckhead....Don't challenge how much of an American someone is unless you know him personally and you have walked a mile in his shoes. Disagree with his politics...that's ok. But never challenge a man's love of this country and being a true American because he disagrees with your politics. Too many good men and women made the ultimate sacrafice so you can have free speach....don't abuse the privledge.


PUGPROUDPUGPROUD - 11/7/2011 7:42:26 PM
+1 Boost
billfromf*uckhead = Sociopath


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