Archive for December, 2009
Another Saab Story
General Motors was almost universally hated a couple of months ago when they accepted a “bailout” from the U.S. Government in the aftermath of the recession. While that feeling likely still lingers in many quarters, General Motors is at least proving that they are trying to cut the fat out of their budget and maximize profits.
Exhibit A, General Motors is attempting to find a buyer for Saab, their Swedish-originating car company that has largely fallen flat in the last year or so. In 2006 their sales hit a crescendo of 133,000 vehicles in a year–so they obviously have the capability for success. That division of the company has been in free-fall ever since GM announced it was going to focus on it’s more classic brands. Beijing Auto Industry Corp. has reportedly expressed interest, but GM is saying they will close down the car company if no “suitable buyer” can be found by the end of December.