Saab dealers knew of the chance that GM would wind down Saab if a proposed sale to Koenigsegg AB went sour. Still, dealers say they had every indication the deal was progressing smoothly.
Dealers had signed termination agreements in June that said General Motors Co. would wind down Saab and terminate its dealers if a sale fell through, unless another buyer wanted Saab, said Michael Simon, general manager of a stand-alone Saab store in suburban Chicago.
“The way that it was set up was the same way as the Saturn agreement,” Simon said, speaking of GM’s failed sale of Saturn to Penske Automotive Group Inc. Penske backed out on Sept. 30, and GM is now winding down Saturn.
But everything seemed to be going smoothly with the Saab sale. Dealers say brand representatives … From Automotive News>> story
From Automotive News Published: Nov 24 4:29 pm U.S. Eastern time.
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