Let's face it, this is hardly home invasion or drive-by shootings. But some of London's most expensive residential neighborhoods are feeling beset by a particularly specialized new threat: public misbehavior by supercar-driving rich folks, at least some of them from wealthy Arab nations. Yesterday...Read More»
When the Saab sale to Koenigsegg fell through last week, a variety of sources lay the blame at GM's feet -- specifically, the way those feet were dragging. That same snail's pace approach to business may be partly responsible for Fritz Henderson's abrupt dismissal yesterday. But if a new statement...Read More»
Last week, when we reported on the Koenigsegg Group's failed attempt to purchase Saab from GM, we mentioned that a member of that group -- Beijing Automotive Industry Corporation (BAIC) -- might make its own bid for the troubled Swedish brand. That was an educated guess, based largely on the fact...Read More»
General Motors fans were dealt a major blow yesterday when another of the company's brand sales collapsed -- this time, the sale of Swedish marque Saab to Koenigsegg Group AB. A member of the Swedish government says that GM will continue to seek out a buyer for the beleaguered brand, but whether...Read More»
General Motors may be looking to expand its (formerly) shrinking U.S. network, but the soon-to-be owner of GM's orphaned Saab is sticking with a leaner, meaner game plan: Koenigsegg intends to nix 81 Saab dealers from the company's current network, leaving just 137 outlets in the U.S. Of course...Read More»
In the wake of the Big Three meltdown, U.S. automakers have been working hard to unload their bloated inventory of brands (or in Chrysler's case, the whole company). Unfortunately, even with the weak dollar, clinching those deals hasn't been easy: we all remember the sad collapse of Roger Penske's...Read More»
In a one-two punch to the diversity of Canadian showrooms, both Saturn and Saab have announced that they're pulling out of the Great White North. The Penske Automotive Group, which is purchasing the Saturn brand from General Motors, has already notified Canada's 46 Saturn dealers that it won't be...Read More»
The bidding for GM's Saab division has finally reached a conclusion, with a Swedish consortium lead by supercar manufacturer Koenigsegg announced as the final buyer for the struggling automaker. General Motors has been looking for a buyer for Saab since late last year, as it tried to cut brands and...Read More»
It's official: General Motors has reached a tentative agreement with Swedish outfit Koenigsegg to sell the Saab brand. So, Saab's probably going home. Cue the Peaches and Herb. Or "Major Tom", if that's your thing. According to a press release from GM, the high-end sports car manufacturer (along...Read More»
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