General Motors could sell Saab brand for $1. The consortium supported by businessmen Lars Carlstrom, Formula One chief Bernie Ecclestone and Luxembourg-based Genii Capital proposed to support the brand for an extended period of time. The proposal is of nominal $1 which would prevent GM from hassle of shutting down the brand and any long-term plans to keep the small Swedish automaker running. “We will submit a clarification, regarding liquidity, cash, and other things," Carlstrom said Wednesday, adding "we're working on it.”
Shutting down the Swedish automaker and the brand may cost General Motors anywhere between $75 million and $145 million. Winding down the Swedish carmaker would most likely generate a significant amount of money from the liquidation. There are also noteworthy values from research and development of the new 9–5 model that could be used.
On the other hand, Dutch luxury car maker Spyker is also bidding for Saab deal. The company stated that it is still in talks with General Motors but did not reveal when a deal may be clinched. Spyker Cars chief executive Victor Muller did not indicate either if General Motors has given a deadline.
Meanwhile there have been numerous “support Saab” rallies with more than 5000 Saab fans across the globe joining hands to support the brand.
