Saab Files For Bankruptcy

Saab Automobile filed for bankruptcy Monday after attempts by Chinese investors to take over the loss-making brand were blocked by previous owner General Motors Co.

Saab CEO Victor Muller personally handed in the bankruptcy application to a court in southwestern Sweden, ending his two-year struggle to revive the more than six-decades-old car maker, known for its rounded sedans and quirky design features.

The Vanersborg District Court was expected to approve the application later Monday.

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knowitall1985 - 12/19/2011 12:55:50 PM

+1 Boost

Somebody shoot this one legged horse already........

Joe_Limon - 12/19/2011 1:49:13 PM

+2 Boost

I wonder how much longer they'll keep pumping money into opel.

mini22 - 12/19/2011 11:38:09 PM

+1 Boost

GM really is piss poor when it comes to owning a foreign automaker.Compared to how Ford nutured Jaguar, Aston Martin,Volvo and
Landrover, GM has been an absolute failure in managing Saab and Opel/Vauxhall.Ford left all it's brands better off then when it bought them.

knowitall1985 - 12/20/2011 11:53:39 AM

+1 Boost

Saab was dead long before GM bought them....

mini22 - 12/20/2011 12:34:09 PM

+1 Boost

If you look at history Jaguar, Aston Martin, LandRover and Volvo were all very troubled brands when Ford bought them. Jaguar had terrible reliability and quality control and little product,Ditto LandRover, /Aston martin was making only a few hundred cars per yr on anitquated platforms, Volvo was not much better with a definate lack of product.Ford actually improved all these brands without decimating their character.Not only did Ford not try and make Volvo change platforms Ford adapted it's large car groups to Volvo platforms. It used Volvo's 5 cylinder in both the Euro Ford Mondeo and Ford Focus. Also the Mondeo had the best and is still one of the best FWD platforms in Europe(100% Ford designed though). Had Saab been adapted to the Mondeo platform both the 9-5 and 9-3 would have been much better driving cars. An example of GM ripping Saabs guts out was when they used a Subaru Outback for Saab's 9-2 model.Other then a few minor interior trim upgrades and a new grill this car was nothing but a Subaru. This is one of many reasons why Saab did not survive. GM would have sold it's mother down the river to survive. The new GM is a better company today but the old GM killed Saab.