GM CEO Ed Whitacre told reporters yesterday that he is pessimistic about finding a buyer for the Saab brand and said the closure of the Swedish brand is proceeding.
Whitacre said none of the potential bidders for Saab have come forward with the financing needed to restructure the money-losing carmaker.
“It’s real easy,” he said. “Just show up with the money and you can have it, and nobody’s showing up with the money.”
Dutch luxury carmaker Spyker Cars NV is among possible bidders for Saab and Spyker CEO Victor Muller has promised that Spyker would make third bid for the niche carmaker before today’s (7th January) deadline.
GM had said earlier that it will continue to wind down the brand as it entertains bids for Saab.
Whitacre said he didn’t see how GM could have tried any harder to sell the brand and that GM will start closing down Saab plants later this week.
Source: Automotive News