Ford and General Motors are still pushing ahead with plans to sell their Swedish car brands while the Swedish government has ruled out more state aid or taking stakes.
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Saab's future remains cloudy after General Motors dismissed reports saying it had not found anyone interested in buying Saab.
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General Motors has found no interested buyers for Saab, sources familiar with efforts to sell the Swedish brand say.
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Channeling its aircraft bloodlines, Saab is launching a premium edition of the 9-5 sedan and wagon at the Detroit auto show.
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Sweden will provide up to 25 billion kronor ($3.1 billion) in credit guarantees and loans to its ailing auto industry but has no plans to buy stakes in Volvo or Saab, its government said on Thursday.
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Swedes once reveled in the independence of their two national carmakers and#x2014; small but highly profitable luxury brands competing in a world of giants. Volvo Car Corp. and Saab are now money-losing wards of Ford Motor Co.
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General Motors is talking to potential investors who could take partial ownership in Saab. Jan-Ake Jonsson, managing director of the Swedish brand, said GM and Saab are talking to several investors about putting money into the company.
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The loss of Volvo would have a more devastating effect on the future of Sweden as an automaking nation than the closure of Saab, Lars Holmqvist, CEO of CLEPA, the European suppliers association, said.
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As Ford Motor and General Motors consider selling their Swedish brands, Volvo's long-term future seems brighter than Saab's.
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The problems of General Motors and Ford Motor in the US have created an uncertain future for the carmakers' European operations. GM is talking to potential investors who could take partial ownership in its Saab brand.
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It was driving up a stretch of Highway 69 between the Muskokas and Britt that I got my first taste of Saab's aviation-rooted personality. I'd been cruising the familiar route in a 9-3 Aero for several hours. It was dark, well past midnight. The 'night-panel' dash function cancelled out unnecessary instrument illumination, and there was no traffic or wildlife ahead as far as the adaptive xenon lights could see.
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It was driving up a stretch of Highway 69 between the Muskokas and Britt that I got my first taste of Saab's aviation-rooted personality. I'd been cruising the familiar route in a 9-3 Aero for several hours. It was dark, well past midnight. The 'night-panel' dash function cancelled out unnecessary instrument illumination, and there was no traffic or wildlife ahead as far as the adaptive xenon lights could see.
Full story...
It was driving up a stretch of Highway 69 between the Muskokas and Britt that I got my first taste of Saab's aviation-rooted personality. I'd been cruising the familiar route in a 9-3 Aero for several hours. It was dark, well past midnight. The 'night-panel' dash function cancelled out unnecessary instrument illumination, and there was no traffic or wildlife ahead as far as the adaptive xenon lights could see.
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George Nahas owned only an Oldsmobile dealership when General Motors announced in 2000 that it would kill the brand. So he moved on -- to Saturn.
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George Nahas owned only an Oldsmobile dealership when General Motors announced in 2000 that it would kill the brand. So he moved on -- to Saturn.
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General Motors is talking to potential investors who could take partial ownership in Saab. Jan-Ake Jonsson, managing director of the Swedish brand, said GM and Saab are talking to several investors about putting money into the Swedish company.
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Several as yet unnamed companies are interested in snapping up Saab if General Motors decides to sell.
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General Motors is considering selling its Swedish premium brand Saab. )x("",We will look at all the possible options, including possible sale, starting immediately, Fritz Henderson, GM's vice chairman and chief operating officer, said.
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Volvo Cars and Saab have reportedly approached Sweden's government about financial aid.
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Volvo Cars and Saab have reportedly approached Sweden's government about financial aid.
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