Saab is staring death in the face this afternoon. General Motors interim CEO Ed Whitacre gave a grim report about the Swedish brand's future at an afternoon roundtable in Detroit.
"Just show up with the money and you can have it," he told reporters. "Nobody's come with the money. We're in the wind-down mode."
And so we gather that the unprofitable Dutch carmaker Spyker still hasn't come up with the financing to buy Saab.
"I don't really know how you can try any harder, Whitacre said further. "We've solicited buyers, we've talked to a number of people. I don't know that you could do anything more than we've done."
In other news, Whitacre predicts GM will be profitable in 2010. Also, he recently bought a Cadillac CTS-V as a personal car.
mazda609 says:
02:59 PM, 01/ 6/10
Its the same thing every time, money is always the problem.
gregnv says:
03:26 PM, 01/ 6/10
The Saab story ends with a sob story...
:'( Saab :'( Sob :'( Saab
zoomzoom22 says:
03:27 PM, 01/ 6/10
The new 9-5 is a pretty piece, but this doesn't really surprise me. With only two outdated and uncompetitive models in their lineup, Saab hasn't really shown that they deserve a chance anyways. GM helped contribute to their demise through a nonexistent marketing campaign and the rebadging of the Trailblazer as the 9-7x.
Another thing I've always thought about Saabs is that there are much better options out there for the money. Who would pay $40k for a 9-5 when you can step into a 335, G35, and ES for equal coin? No one lusts after a Saab and that is their main problem.
jederino says:
04:41 PM, 01/ 6/10
@zoomzoom, the new 9-5 is lustworthy. The design makes Saab distinctive once again!
rsholland says:
05:50 PM, 01/ 6/10
I think Whitacre could give Lutz a real run as being a reporter's dream interview. Like Lutz, his quotes are in-your-face, blunt, and make for great headlines.
zoomzoom22 says:
08:18 PM, 01/ 6/10
@jederino: I completely agree, but it is just too late.
flicmod says:
12:48 PM, 01/ 7/10
I sincerely think that GM is in no position to be the one dictating how much Saab is worth. And I guarantee that the cost of shutting down operations of Saab themselves will be far more costly than the difference between GM's asking price and Spyker's offer.
My suggestion to Whitacre: stop beating your chest like a buffoon and sell 'em already...
desmolicious says:
02:28 PM, 01/ 7/10
Did Whitacre really 'buy' a CTS-V?
I mean, he's the CEO. Doesn't he just go and grab one off the lot?
anythngbutgm says:
05:52 AM, 01/ 8/10
"In other news, Whitacre predicts GM will be profitable in 2010."
Of course they will, they've got a 50 billion dollar head start...