GM to close Saab line

After talks with Dutch carmaker Spyker to sell Saab fell through, GM announced Friday that it will close its Saab line, according to USA Today.

The two companies realized they would not reach their goal for a deal by Dec. 31 due to issues that no amount of time would resolve.

The closing of the line will eliminate 3,400 jobs worldwide.

"This is a business that has struggled for more years than not," an executive vice president at G.M., John F. Smith, said.  "Sometimes things just don't work."

Saab filed for bankruptcy protection in February, and sold just 93,000 vehicles worldwide last year, according to the New York Times.

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This page contains a single entry by hagem064 published on December 18, 2009 4:57 PM.

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