Enquiry
Call Us Now
Ultracar

Saab files for bankruptcy in Sweden

If you haven’t already heard/seen this, then please take a look:

"Troubled Swedish carmaker Saab has filed for bankruptcy after failing to secure fresh funds from potential Chinese investors. General Motors (GM), which owns part of Saab, did not want Chinese carmakers accessing technology licences. Production has been suspended at Saab's main plant in Trollhattan, Sweden, since April as the company has struggled to pay its suppliers. Workers have complained that they have not been paid since last month." via [BBC News - Saab files for bankruptcy in Sweden](http://www.bbc.co.uk/news/business-16242115 "BBC News").

This is a sad day for the motor industry, Saab has been under increasing pressure over the last few years…and it now looks like we will see the end of this brand with such a strong heritage.

Saab was actually founded in 1937, to originally manufacture aeroplanes…CEO Victor Muller said: “This is the blackest day of my business career”