Sunday, May 29, 2016
Current Weather
Loading Current Weather....
Published: Tuesday, 11/24/2009

Koenigsegg backs out of plan to buy Saab from GM


DETROIT — General Motors Co. says a Swedish specialty car maker has ended plans to buy GM's Saab brand.

CEO Fritz Henderson says the Detroit automaker is disappointed in the decision by Koenigsegg Group AB and will take the next several days to figure out what to do.

The decision casts serious doubt on the future of Saab, which GM wanted to sell or close this year.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.