Saab Scania Ab

General Motors Co.'s plan to sell its Saab unit to a specialty Swedish automaker has collapsed, frustrating another attempt by GM to prune its roster of automotive brands and potentially spelling the end of the Saab brand. Koenigsegg Group said Tuesday that it had canceled the proposed acquisition of Saab because of risks created by delays in completing the deal. GM officials said they were "very disappointed" by Koenigsegg's decision. The Swedish carmaker, which makes so-called supercars that can top 200 miles per hour, had joined with Chinese automaker Beijing Automotive Industry Holding Co. on the deal.

Reporting plunging profits, Sweden's troubled auto maker and aircraft manufacturer Saab-Scania AB confirmed Monday that it is in negotiations with Ford Motor Co. Georg Karnsund, Saab's chief executive, refused to disclose details of the talks, saying the two companies had signed an agreement of confidentiality. He said Saab also is talking with other car makers, but he refused to say which ones. Karnsund said Saab has signed a secrecy agreement only with Ford.

General Motors Corp. continued its international shopping spree, picking up the 50% of Swedish luxury auto maker Saab Automobile that it does not already own. The deal, terms of which were not disclosed, is the latest GM has made with foreign auto makers as it shores up positions in overseas markets. Last year, GM bought 20% of Subaru, agreed to buy engines from Honda Motor Co. and began negotiations to buy struggling South Korean auto maker Daewoo.

Swedish auto maker Saab-Scania AB, facing mounting losses and layoffs, refused Thursday to confirm or deny news reports that Ford Motor Co. is a leading suitor for its ailing passenger car division. Following a board meeting Thursday, Jan-Erik Larsson, head of Saab's auto division, declined to clarify a report in the Stockholm tabloid Expressen that a takeover deal with Ford was imminent.

General Motors Corp. said Monday that it will pump more money into Saab Automobile and could obtain full ownership of the struggling Swedish auto maker within three years. GM and Saab co-owner Investor each will put $262 million in loans into Saab through 1997. In addition, GM will receive an option to buy some or all of Sweden-based Investor's 50% stake in Saab in 1999 or 2000.

Regulators Look at Saabs: The U.S. government's auto safety agency is investigating complaints of fires inside the passenger compartments of some Saab 9000s. The National Highway Traffic Safety Administration, in its monthly defect investigation report, said there have been 49 complaints and 35 fires involving models built from 1986 to 1991. According to the consumer complaints, fire starts inside the passenger compartment and engulfs the vehicle.

I'd like to thank Coach Robinson for telling Ram fans what I had been trying to tell them for 10 years--that they are fools. SAM RIZZARDO, Long Beach

General Motors Corp. continued its international shopping spree, picking up the 50% of Swedish luxury auto maker Saab Automobile that it does not already own. The deal, terms of which were not disclosed, is the latest GM has made with foreign auto makers as it shores up positions in overseas markets. Last year, GM bought 20% of Subaru, agreed to buy engines from Honda Motor Co. and began negotiations to buy struggling South Korean auto maker Daewoo.

Swedish auto maker Saab said its car sales in the United States from January to July, 1992, were down 1% to 15,832 from 16,012 in the same period in 1991. The company said its U.S. car sales in July fell to 2,110 from 2,149 a year ago. Saab Auto is jointly owned by General Motors Corp. and Sweden's Saab-Scania.

General Motors Corp. said Monday that it will pump more money into Saab Automobile and could obtain full ownership of the struggling Swedish auto maker within three years. GM and Saab co-owner Investor each will put $262 million in loans into Saab through 1997. In addition, GM will receive an option to buy some or all of Sweden-based Investor's 50% stake in Saab in 1999 or 2000.

Regulators Look at Saabs: The U.S. government's auto safety agency is investigating complaints of fires inside the passenger compartments of some Saab 9000s. The National Highway Traffic Safety Administration, in its monthly defect investigation report, said there have been 49 complaints and 35 fires involving models built from 1986 to 1991. According to the consumer complaints, fire starts inside the passenger compartment and engulfs the vehicle.

Swedish auto maker Saab said its car sales in the United States from January to July, 1992, were down 1% to 15,832 from 16,012 in the same period in 1991. The company said its U.S. car sales in July fell to 2,110 from 2,149 a year ago. Saab Auto is jointly owned by General Motors Corp. and Sweden's Saab-Scania.

I'd like to thank Coach Robinson for telling Ram fans what I had been trying to tell them for 10 years--that they are fools. SAM RIZZARDO, Long Beach

Reporting plunging profits, Sweden's troubled auto maker and aircraft manufacturer Saab-Scania AB confirmed Monday that it is in negotiations with Ford Motor Co. Georg Karnsund, Saab's chief executive, refused to disclose details of the talks, saying the two companies had signed an agreement of confidentiality. He said Saab also is talking with other car makers, but he refused to say which ones. Karnsund said Saab has signed a secrecy agreement only with Ford.

General Motors Co.'s plan to sell its Saab unit to a specialty Swedish automaker has collapsed, frustrating another attempt by GM to prune its roster of automotive brands and potentially spelling the end of the Saab brand. Koenigsegg Group said Tuesday that it had canceled the proposed acquisition of Saab because of risks created by delays in completing the deal. GM officials said they were "very disappointed" by Koenigsegg's decision. The Swedish carmaker, which makes so-called supercars that can top 200 miles per hour, had joined with Chinese automaker Beijing Automotive Industry Holding Co. on the deal.

General Motors Corp. announced Friday it will acquire a half-interest in the car-making operations of Sweden's Saab-Scania AB aerospace and automobile group for $600 million.

Swedish auto maker Saab-Scania AB, facing mounting losses and layoffs, refused Thursday to confirm or deny news reports that Ford Motor Co. is a leading suitor for its ailing passenger car division. Following a board meeting Thursday, Jan-Erik Larsson, head of Saab's auto division, declined to clarify a report in the Stockholm tabloid Expressen that a takeover deal with Ford was imminent.