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21 August 2017 06:37 (South Africa)

Saab sale falls through, and this time GM is disappointed

After its near-death experience in the face of the global market collapse, GM's newly improved finances led to its recent decision to hang onto its offshore Opel and Vauxhall units. But now the sale of Swedish unit Saab has also been called off, after Swedish sports car maker Koenigsegg pulled out of the deal. This time the US car giant is disappointed by the decision. For now, it looks like GM will continue to maintain the loss-making manufacturer, saying it will make an announcement on the matter next week. GM agreed to sell Opel in Germany and Vauxhall in Britain to Canadian car parts firm Magna, but changed its mind. The latest act in the car-making saga should have interesting repercussions, and will continue to keep the focus on GM's attempt to rehabilitate itself.

Read more: BBC

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