Home LifeStyle  Luxury Cars GM Sells Saab to Spyker Cars

GM Sells Saab to Spyker Cars

Posted: Feb. 11th, 2010  |  By James Rothaar Freelance Writer |
RSS Syndicated News Email a Friend Suggest an Article Share
Luxury Car News:General Motors announced that an agreement has been reached to sell Saab Automobile AB to Spyker Cars NV. The automaker will live on under a new corporation, Saab Spyker Automobiles. John Smith, GM VP for corporate planning and alliances, said that it was great news for GM, Saab and its network of dealers and suppliers, employees, and fans worldwide.

The Swedish government is reviewing the transaction in its entirety to ensure orderliness. If all proceeds smoothly, the transaction is expected to close in mid-February. Additional information will be announced in “due time.”

“General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we're all happy for the positive outcome,” said Mr. Smith, GM’s man with the seven word job title (excluding “GM”).

No word yet on whether the soon-to-be formed Saab Spyker Automobiles will brand cars as “Saab,” “Saab Spyker,” or some derivative thereof.

Backlit: Svenska Aeroplan AB made aircraft first 10 years. Saab 92 was first car in production (1949). GM tried to sell Saab to Koenigsegg, the Swedish super-car maker, in June 2009; fell through in fall.
Related Topics : Lifestyle News
Share on Facebook Share
See Next Article
Related Articles
Featured Contributor
Merilee KernMerilee Kern
Many believe that who you are is defined by what you drive - your ride, your wheels and your...
Read More | View Profile
The Best of Luxury
Event Calendar
Keeping Up with JustLuxe
Like Us on FacebookFollow Us on TwitterRSS Feeds
Sign Up for Our Newsletter!
Current News & Features
Take the Mandarin Oriental Hotel's Mouth-Blown Glass Pebble Vase Home
Is It Killing You to Sit All Day? The Smart Kinetic Desk May Save Your Life
Host the Ultimate Tea Party with the Gorgeous Arabesque Coffee & Tea Pot Set
Kors Vodka's 24k George V Edition Gives Historians Something to Gossip About
The Loretto Furniture Collection Brings a Little Bit of Sci-Fi to the Bedroom
A-Listers Take Over Sundance Film Festival With These 8 Must-See Movies
Can You Picture Yourself Relaxing Aboard This 2000 Oceanfast 87'?
First Fully-Automated Home Brewing System Ready Might Just Make You An Expert Cicerone
Ever Wanted to Live in a Jewel Box Home? Nautilus Wants to Customize You a Lavishly Detailed Smaller Residence
Great Scott! Celebrate Scotland's Finest With These 5 Whiskies
See the complete list

Best of Luxury

Finding the best in luxury can be a daunting task, which is why we've taken it on for you.
View All Best of Luxury
LivingLuxe. Exclusive Deals and Luxury Brands. Learn More
JustLuxe Galleries presents Popular Photo Galleries
Meet Our Writers Become a Contributor
$475K Concept One "Curve" is the World's First SUV With 48" 4K TV Inside
Mila Pantovich »
See More Contributors
THINGS WE LIKE