GM Unloads Another Unit
Saab may live to accelerate another day. General Motors on June 16 said it had found a buyer for its long-sputtering unit: a consortium led by Koenigsegg, a Swedish producer of super-swanky sports cars. No price was named. GM, Koenigsegg, and the European Investment Bank will pump in funding to keep Saab rolling and developing new models. But can a tiny niche carmaker like Koenigsegg save the brand? The new owner will have to come up with a broader range of offerings to lure more buyers.