When the offer to buy out Saab Automobile and its parent, Swedish Automobile N.V. was laid out by Chinese companies Pang Da and Youngman, General Motors wasn’t to keen on the idea. Even though GM sold the Swedish automaker, they still have a connection via the 9-4X crossover SUV. Saab planned on still receiving parts for the vehicle, but GM did not want to continue if a takeover happened. After some revisions, the American brand is still not pleased with the sale. It appears that the future of the 9-4X might not be as long-lived as originally perceived.
“Nothing in the proposal changes GM’s position. We are unable to support the transaction,” said GM spokesman James Cain to Reuters. GM said that even after reviewing the new sale layout, the purchase by Pang Da and Youngman could still hurt GM’s Chinese sales. If a new plan isn’t set forth once again, Saab will have to find some other way to get a midsize crossover to the public as the 9-4X will be axed. Despite the negative news, Saab and Swedish Automobile N.V. are still hopeful. According to CEO Victor Muller, “There is always a plan B.”
Source: Reuters
