GM unable to find buyers for Saab and Hummer

Posted: Jan 08, 2009
 Email 8 Comments

According to sources familiar with the matter, General Motors is unable to find buyers for Saab. GM put Saab under strategic review last month as a part of its recovery plan submitted to Congress. Fritz Henderson, GM”s vice chairman and chief operating officer, previously said that GM is looking to sell Saab as soon as possible.

Sources say that GM has been quietly shopping Saab around for some time now but has been unable to find a buyer. According to Automotive News, insiders say that GM is also unable to find a buyer for Hummer which was out under “strategic review” in June.

Apart from the $13.4 billion in loans that GM received from President George W. Bush last month, the Swedish government has approved a $3.4 billion package for its struggling auto industry. Saab and Volvo are expected to get the biggest chunk of the loan.


Share |  Email  Print |




Subscribe & Connect

Connect with us on any of our social profiles below.

Subscribe to our e-mail newsletter to receive updates.

  • Kabluey

    HAHAHA..

    Who would sensibly buy them?? Both brands need to much reworking to even turn a profit…

  • Pat

    HUMMER should RIP

  • Chris

    If the world auto economy was in better shape, I bet BMW might have taken a good look at either Saab or Volvo. It would of been a nice front wheel drive lineup to compliment BMW's rear wheel drive line up. Could you imagine a BMW3.0 Twin Turbo engine in a BMW designed 9-3 with XWD!! That would be simply heavenly!

  • zermatt

    Maybe GM is asking too much for the two brands.

    I would think that there are buyers for each if the price is right. GM has to stop thinking that these two brands are “blanking gold”.

    Hey Fritz, any cash is better than none.

  • Kabluey

    HAHAHA..

    Who would sensibly buy them?? Both brands need to much reworking to even turn a profit…

  • Pat

    HUMMER should RIP

  • Chris

    If the world auto economy was in better shape, I bet BMW might have taken a good look at either Saab or Volvo. It would of been a nice front wheel drive lineup to compliment BMW's rear wheel drive line up. Could you imagine a BMW3.0 Twin Turbo engine in a BMW designed 9-3 with XWD!! That would be simply heavenly!

  • zermatt

    Maybe GM is asking too much for the two brands.

    I would think that there are buyers for each if the price is right. GM has to stop thinking that these two brands are “blanking gold”.

    Hey Fritz, any cash is better than none.