GM Completes Sale of Saab to Spyker
DETROIT - General Motors Co. today completed the sale of its Swedish Saab brand to Dutch luxury sports car maker Spyker Cars NV, marking the first successful sale of one of its four unwanted U.S. brands, Automotive News reported. The transaction combines Saab Automobile and its 3,400 employees with Spyker Cars and its 110-plus workers under parent company Spyker Cars NV. “The focus as of today will be on getting back to business,” Jan Ake Jonsson, CEO of Saab Automobile, told reporters today. Executives want to refocus the identity of the Saab brand “to create an innovative, free-thinking company based on our Swedishness,” he said. The sale saves Saab from what appeared to be doom after Swedish supercar maker Koenigsegg Group AB backed out of a planned purchase in November. But Spyker -- whose logo bears a Latin phrase that translates, “For the tenacious, no road is impossible” -- made an offer during Saab's wind down. Negotiations took weeks, and skeptics included GM CEO Ed Whitacre. But in late January, Spyker inked an agreement to buy Saab. Completion of the Saab deal leaves GM facing a Feb. 28 deadline to complete a planned sale of Hummer to China's Sichuan Tengzhong Heavy Industrial Machinery Co. Saturn and Pontiac are being shut down.
More Industry

Auto Affordability Inches Up
The latest Cox Automotive and Moody’s Analytics index shows a slight increase in new-vehicle affordability despite high prices.
Read More →
Ohio Auto Group Under New Ownership
After 79 years with the Schluter family, Mansfield Auto Group has been acquired by Missouri-based Clement Auto Group.
Read More →
RV Group Expands Carolina Footprint
Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.
Read More →
Agent Acumen
An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.
Read More →
Missed Maintenance Creates Opportunity
As families get back on the road and into daily school routines, service drives have an opportunity to capture customers who are behind on recommended vehicle maintenance.
Read More →
Mitsubishi Unveils U.S. Plan
The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.
Read More →
Selling to Grow
The question of whether you should sell your agency and if so, when, is up to you. But it’s a question worth asking to ensure you keep the business on the right path for yourself, employees and clients.
Read More →
Recalled Vehicles Hit 5-Year High
Though the number of events has fallen so far this year, impacted units are up significantly. Meanwhile, regulators consider consumer notification changes.
Read More →
Auto Group Acquires Top-Performing Rooftop
Car Pros sold its Kia Huntington Beach location to Sutherlin Automotive Group, marking the buyer’s third location in Southern California.
Read More →
China as Pacesetter
Automotive leaders huddled on where North America stands in the global picture and how it can strengthen its position against the Asian juggernaut’s surging industry.
Read More →