Posted on January 26th, 2010 • by Bill Cawthon
General Motors has just confirmed it is selling Saab Automobile AB to Spyker Cars NV of the Netherlands. A binding agreement has been reached that will save the iconic Swedish brand from oblivion. The sale transaction is expected to close in mid-February. GM has suspended its wind-down arrangements. “Today’s announcement is great news for Saab [...]
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Spyker.
Posted on January 25th, 2010 • by Bill Cawthon
CNBC and Automotive News are reporting that Ed Whitacre, Chairman of the Board at General Motors, will be named the company’s new permanent CEO. The announcement will be made this morning at 11:30 Eastern Time. Whitacre, the retired ATT CEO executive who has been running GM since the ouster of Fritz Henderson, replaced Kent Kresa [...]
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Posted on May 7th, 2009 • by David Zatz
A Fiat spokesman confirmed that Sergio Marchionne, CEO of Fiat Group, will head Chrysler when it leaves bankruptcy, most likely in May or June; he is also working on taking over Opel, Saab, and Vauxhall. Marchionne is a dual Canadian and Italian citizen, who has stated his goal as creating the world’s second largest automaker (and [...]
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Fiat,
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Opel,
Saab,
Sergio Marchionne.
Posted on May 3rd, 2009 • by Bill Cawthon
Fiat SpA confirmed today that it is talking to General Motors Europe (GME) about acquiring GME’s troubled European operations. The Italian automaker wants Opel, Saab and Vauxhall to assemble an automotive operation large enough to be competitive in the future world market. Fiat CEO Sergio Marchionne has said an automaker needs to be able to [...]
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Sergio Marchionne.
Posted on February 20th, 2009 • by Bill Cawthon
In a move that was widely expected, General Motors’ wholly owned Swedish subsidiary, Saab, has announced it will file for reorganization in the Swedish courts. Saab said it will be working to create an independent business entity with production, design and engineering in Sweden. GM has been trying without success to unload the Saab brand [...]
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Posted on January 9th, 2009 • by Bill Cawthon
Cerberus may want to re-think one of its potential exit strategies from its ownership of Chrysler: selling brands like Jeep. Piecemeal sales don’t seem to be attracting much interest these days, even at fire sale prices. General Motors announced today that it has been unable to find a buyer for Saab. This follows on its [...]
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Hummer,
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Sales,
Volvo.
