page_title: Saab Automobile
section_title: General Motors (2000–2010)
hierarchical_section_title: Saab Automobile / History / General Motors (2000–2010)
caption_attribution_description: English: 2002 Saab 9-3 Aero 5-door hatchback. Photographed in Cronulla, New South Wales, Australia.
context_page_description: Saab Automobile AB was a manufacturer that was founded in Sweden in 1945 when its parent company, Saab AB, began a project to design a small automobile. The first production model, the Saab 92, was launched in 1949. In 1968 the parent company merged with Scania-Vabis, and ten years later the Saab 900 was launched, in time becoming Saab's best-selling model. In the mid-1980s the new Saab 9000 model also appeared.
  In 1989, the automobile division of Saab-Scania was restructured into an independent company, Saab Automobile AB. The American manufacturer General Motors took 50 percent ownership. Two well-known models to come out of this period were the Saab 9-3 and the Saab 9-5. Then in 2000, GM exercised its option to acquire the remaining 50 percent. In 2010 GM sold Saab Automobile AB to the Dutch automobile manufacturer Spyker Cars N.V.
  After many years establishing a sound engineering reputation and ultimately a luxury price tag, Saab failed to build its customer base beyond its niche following.
context_section_description: GM exercised its option to acquire the remaining Saab shares in 2000, spending US$125 million to turn the company into a wholly owned subsidiary.
  The new close relationship yielded its first product in 2003's all-new 9–3. The new model, marketed as a sport sedan, dropped Saab's iconic hatchback in favour of a more conventional four-door approach. The model shared a co-developed platform (GM's "global Epsilon 1 platform") and some other components with the Opel Vectra again, but the relationship was much more of a joint engineering effort than before.
  Under GM's direction, the badge-engineered Saab 9-2X (based on the Subaru Impreza) and Saab 9-7X (based on the Chevrolet Trailblazer) were introduced in the American market in 2005 with the hope of increasing sales. Both models were a critical and commercial failure and were cancelled a few years after production began. GM also delayed the 9-3 wagon by three years, shelved a hatchback derivative of the 9-3 sedan, stalled plans for all-wheel-drive capabilities in Saab models until 2008, cancelled a 9-5 replacement in 2005, and announced a planned shift of production away from Saab's historic home in Trollhättan to Opel's factory in Rüsselsheim.
  Owing to fading fortunes across its entire business due to a slowing economy in 2007, GM announced that the Saab brand was "under review" in December 2008, a process which included the possibility of selling or shuttering the car maker.
  As the talks progressed, GM's support receded, and Saab went into administration, the Swedish equivalent of America's Chapter 11 bankruptcy. Saab's managing director Jan-Åke Jonsson said that this was "the best way to create a truly independent entity that is ready for investment". For its part, the Swedish government was reluctant to become involved, with Maud Olofsson, industry minister, stating: "The Swedish state and taxpayers in Sweden will not own car factories. Sometimes you get the impression that this is a small, small company but it is the world's biggest automaker so we have a right to make demands."
  On 16 June 2009, Koenigsegg announced its intention to purchase the brand from GM. The bid was backed by a group of Norwegian investors and the Chinese car maker Beijing Automotive Industry Holding Co Ltd (BAIC). The following month, both parties announced that GM had consented to the deal. There were outstanding financial details, but a loan from the European Investment Bank was expected to cover them. The loan was approved in October, but on November 24, 2009, Koenigsegg announced that it had "come to the painful and difficult conclusion that it could no longer carry out the acquisition" much because of the constant delays and the difficulties coordinating the involved parties: GM, the European Investment Bank, the Swedish National Debt Office and BAIC.
  It was announced on 14 December 2009, that the Chinese automaker would acquire the intellectual property rights and production equipment for the previous generation Saab 9-3 and Saab 9–5 in a deal worth about US$197 million, which was enough for the company to run for three months. BAIC expressed its intention to create a new brand around the purchased technology and admitted to the purchase of "three overall vehicle platforms, two engine technologies and two transmission systems."
  Following the collapse of talks with Koenigsegg, GM announced that the brand would be eliminated in 2010 if it failed to secure a buyer before the close of 2009. As talks with several firms failed, including the Netherlands-based boutique sports car maker Spyker, GM formally announced its intention to wind down the Saab brand.
  Undeterred, a new offer round materialized. Earlier bidders Spyker and Merbanco revised their offers and were joined by a submission from Luxembourg-based Genii Capital, which boasted the support of F1 chief Bernie Ecclestone. GM continued accepting bids until a self-imposed deadline of January 7, 2010. Acknowledging that the chances of reaching a deal with any party were very slim, they pledged to evaluate each offer with due diligence.
caption: Saab 9-3 Evo
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