End of the road for Saab as owner files for bankruptcy

One of the world’s major automotive brands, Saab Automobile has filed for bankruptcy after it failed in lifesaving attempts to keep the company afloat.


The Swedish brand has been trying to set up partnerships with Chinese investors since living the GM stable but has been met with constant opposition from their former parent company until its patience wore out.

Viktor Muller, the chief executive of Spyker Cars who bought over Saab from GM in January 2010 make the announcement that Saab and its 2 subsidiaries have filed for bankruptcy at the District Court in Vanersborg in Sweden. He has been trying to obtain more financing for the brand since then but saw 2 deals falling through at the point of completion.

Owners of Saab cars in North America who bought their vehicles through GM which ended in February 2010 will have their warranties secured while all warranty coverage for the United States and Canada have since been suspended, according to Saab Cars North America. GM confirmed that cars which are bought before Spyker bought over Saab would still have their warranty intact while those after that will not be covered. Hence, the 3,000 over units in the dealer showrooms are very much like used cars where they are sold ‘as is’ basis and does not come with warranty.