Saab Is Back on the Block

Following similar situations with Opel, Hummer and Tengzhong, the latest news is Koenigsegg walking away from Saab.

"We’re obviously very disappointed with the decision to pull out of the Saab purchase," said GM President and CEO Fritz Henderson.  "Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB."

In his statement, he explained that the timetable has been delayed, which increases the risk of the restructuring plan for Saab.  This puts the future of both manufacturers at risk.

"Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week," added Henderson.