It has been years since anyone has wanted to buy a Saab as their first choice in a market filled with world-class BMW, Audi, and Acura sedans. But now it seems that there are a plethora of buyers interested in Saab.
No, we aren’t talking about its cars: We are talking about the company.
According to Saab CEO Jan Aake Jonson, "There are many interested parties. I don't want to mention any specific names but there are many (interested) companies that work with development and support car production, both in Europe and outside of Europe.
So why is Saab suddenly up for sale? Well, GM is desperately trying to stave off bankruptcy by securing huge multi-billion dollar loans from the U.S. government so it is trying to sell off any valuable assets it may have. Even though Saab is no doubt worth less than Ford-owned Volvo, it could probably bring in a de cent amount of cash for the struggling automaker.
This cash is absolutely vital for GM, whose very survival depends upon it. But will this buyout be as good for Saab as it would no doubt be for General Motors?
Our view? We think that it would be the best possible thing for Saab if GM were to sell it. The General has starved Saab for development cash for so long that the automaker is practically a joke.
The Saab name still has some value on the marketplace and with a stronger lineup of cars it would no doubt thrive. Saab just needs a better owner to get it into a stronger position. It’s time for GM to sell.