Swedish Government Offical Says Saab Will Survive -- At - Saab General Bulletin Board - Saabnet.com
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Swedish Government Offical Says Saab Will Survive -- At
Posted by Wasabi (more from Wasabi) on Thu, 15 Jan 2009 13:24:53
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Despite struggling during the 19 years it has been owned by GM and being put "under review" late last year by the parent company, a speaker for the government of Sweden said that the brand will survive, at least in Sweden, if it produces more attractive models.
"At the moment I don't have any other belief" other than that Saab will still exist in Sweden in a few years, Joeran Haegglund, state secretary in the Swedish industry ministry, told The Detroit Free Press. "Compared to the situation last year, the vehicle industry will be smaller, but more economic and more successful."
Haegglund also said that Saab must gain more independence from GM if it is to receive guaranteed loans from the Swedish government. Currently, Saab is a wholly-owned subsidiary of General Motors, however GM announced last month that it was "reviewing" the brand, meaning it would seek to sell it. Earlier this month, though, anonymous sources at GM revealed that the company has been unable to find a buyer for the Swedish brand, leaving its future up in the air. The Swedish government has previously stated that it has no intentions whatsoever of purchasing either Saab or Ford-owned countrymate Volvo.
Source: The Detroit Free Press
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