Report Says Koenigsegg Interested In Saab
Getting rid of Saab is a big priority for General Motors who is about to find itself shepherded through U.S. bankruptcy court by the Obama administration. Bleeding money like never before, GM needs to shed whatever operations aren’t essential to its business, with Saab being one of them.
Swedish super car maker, Koenigsegg, appears to be interested in making a play for Saab at least that is the report shared by Reuters who picked up comments published to a Swedish business daily yesterday. Fiat SpA, which is about to acquire Chrysler is also interested in Saab as is a U.S. financier, Ira Rennert, who heads up the Renco Group.
Big Money Contending For Saab, Plus Fiat
According to Reuters, Koenigsegg is lining up a group of very wealthy people to help the company make a bid for Saab. He’ll need to come up with a strong bid because Ira Rennert himself is very rich, a billionaire at that. Fiat doesn’t have the deep pockets to make a serious play for Saab unless, of course, they plan on bringing other people’s money to the bidding war.
Koenigsegg Motors AB was founded in 1994 by Christian von Koenigsegg, a low volume producer of super cars including the pictured Koenigsegg CCX (Wikipedia file photo), a mid-engine roadster that can go from zero to sixty in just over three seconds and with a top speed in excess of 245 mph.
Big Bucks For Your Koenigsegg Super Car
Each Koenigsegg model is custom built and outfitted to customer specifications and priced accordingly: expect to pay up to one million dollars for your super car, perhaps more if you go with a limited edition model.
For Saab, the end of its relationship with General Motors appears to be in sight. Nearly twenty years ago General Motors purchase a fifty percent stake in the automaker, increasing it to full ownership in 2000. Never a profitable undertaking for GM, Saab has always trailed Ford-owned Volvo badly among Swedish brands, a gap that the new owner will be looking to close.
See Also — Separating The Good GM From The Bad
[...] week. Fiat still has a bid in for Saab, the Swedish automaker wholly owned by General Motors, but competition for that company is [...]