End of the road for Saab?
Looks like the brand may be killed in the next year. It's been a long, and very bumpy, ride.
The company tried its best to sell Saab, pitching just about anyone who would listen. Dozens of companies initially seemed to take an interest, and GM nearly sealed deals with two European sports car makers.
But each time, talks fell through. It seems that no one wants the funky car line with its distinctly European flair.
So now, it looks like Saab is headed for the automobile graveyard. But it will be in good company, at least, joining old favorites like Plymouth, Oldsmobile and Pontiac.
GM has just dropped its Dec. 31 deadline for bids, and even plans to restart some Saab production lines next month.
But that doesn't mean Saab is saved. As strange as it sounds, GM needs to restart production lines to continue its wind-down process for Saab.
That will make it easier to find buyers for its various assets, such as its tooling and technology. GM has already agreed to sell the tooling and technology for older Saab models to a Chinese automaker for $200 million, Reuters reports.
Having never owned a Saab, I can't attest to the innovation, style and technology that its drivers adore. But The Boston Globe says that if Saab dies, "the roads of America would be blander for it."
Whether Saabs look beautiful is a matter of personal taste, and there’s plenty of room for disagreement. But they indisputably offer something lacking in most of today’s Toyotas, Hondas, Fords, and Chevys: personality.
Copyright © 2014 Microsoft. All rights reserved.
The company is scrambling to protect its equities arm, which could face declining volume and revenue as competitors close the gap.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.