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Saab sale completed

According to Automotive News, the sale of Saab brand motorcars to Spyker Cars NV was completed on February 23, marking General Motors’s first successful sale of one of the four brands it has been trying to sell since the economic meltdown.

It’s back to European ownership for Saab, the Swedish car maker that GM bought two decades ago. Spyker, a Dutch company that builds luxury sports cars, made an offer while GM was in the midst of winding down production after Swedish supercar maker Koenigsegg Group AB backed out of its plans to buy Saab last fall.

With the sale, GM remains involved in production into 2012, per current projections and agreements. Meanwhile, for those wanting to buy a new 2010 Saab, management expects assembly to resume in three or four weeks.

Read the AutoNews article here.