David Vs. Goliath......the automotive way
Yes Saab was bound to go under ever since it was snapped up by GM in the 90's. But when they decided to sell it too Spyker it just seemed like the end was even closer. Why would you sell a company with a product line of 5 and production numbers in the hundreds of thousands to a small company who only produces about 100 cars per year. This seemed like the first bad move. But then it happened, Saab was in trouble and Spyker was in need of cash. Well what would any company do, search for a investor. And they found many suitors willing to take on their debt load.
Unfortunately GM stood in their way, since they still held the rights to the 9-3 and 9-4X models. Well that's what they tell everyone. Theses statements from GM as to why they would not allow a third party indicate that there never was an intention to let Saab survive. Of course why would GM let Saab survive, they could become a threat to Cadillac and their Chinese partners. But why would you not just sell your interest in Saab to that company. There has been no statement from GM as to why they would not sell their interest. Our guess is that from day one of owning Saab, all they wanted was their technology.
A move like this from GM is not anything new. If you look back at it's history, this has happened before. For instance, back in 2009 when GM was going through its bankruptcy, they were about to sell off Opel to Magna International. The sale never went through, since GM decided at the last minute to keep Opel. Then again there was also the takeover of Daewoo from the South Korean government. This deal was suppose to help the struggling automaker, but in the end GM dissolved the Daewoo division and created GM of Korea. They now use Daewoo dealers and production to sell Korean Chevrolet's.
In the end it looks like decades of destruction caused by GM is about to hit a snag. I guess they thought that when your the big guy on top, no one can touch you. Hey if Justin Beiber can get a speeding ticket, then GM can get sued. And remember GM "what goes around, comes around". I think that's called Karma.
For the full story, check out the links below.
Original release date: August 7th 2012
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