When was saab bought out

The Turbo established Saab as a builder of left-field sporty alternatives to cars like the BMW 3-series, and helped to increase sales in the American market. The new followed in , looking like an updated 99, but featured an upgraded interior, revised engines and all-new modern independent suspension that made it one of the best handling cars of its day.

Like its predecessors, the had an incredibly long production run, and with nearly 1 million cars sold, it became the most popular Saab of all-time. From , Saab was the fastest-growing luxury brand in the U. That year, Saab had its best American sales year of all-time, selling 48, cars. By the end of the decade the small automaker was already struggling to compete against its much larger competitors.

At the same time, American automakers sought to take on the strong selling European imports by buying them out. General Motors was desperate to acquire a European brand after unsuccessfully trying to buy Jaguar, and Saab AB was willing to divest its automotive operations and focus on its successful aerospace programs.

By , a deal was worked out, and suddenly the proudly Swedish company was American-owned. The model year would also bring the X, which despite its cleaner styling was fully recognizable as a Chevrolet TrailBlazer behind its grinning Saab visage. The price tag for the X was enormous—surpassed only by the Cadillac Escalade in the GM catalog—and not even an Aero version sporting a 6.

Yet by the time of its own impending bankruptcy, GM had become aware of just how much damage it had done to Saab, and was actively seeking a way out of the brand's quagmire of total anonymity and near-irrelevance on the premium scene. The evidence? The final-generation Saab Although still using Epsilon II mechanicals and possessed of some demerits , the modernized was perhaps the first model from Saab under the General's watch that could legitimately make a claim to command the attention of luxury-car fans.

Eye-catching in either sedan or wagon form, and offering the option of a throaty turbocharged V-6 paired with an advanced all-wheel-drive system, the had unmistakable mojo and it combined with the forward-looking and handsome X luxury crossover that followed to point a way forward for the company. Until, of course, its unveiling toward the end of was unceremoniously eclipsed by GM's announcement that Saab would be sold to Spyker, a Dutch supercar builder that pledged to keep building the vehicle, somehow, while walking the tight-rope between its need for access to American parts suppliers and engineering expertise and the predatory IP habits of its Chinese financiers.

It was a mix that would prove fatal to the 's continued existence, with very few examples ever making it onto American roads, essentially killing Saab's brightest hope while still in the crib.

Escaping from GM's orbit neither guaranteed Saab's future survival nor afforded it the dignity of a proper burial. But the Saab story might not be over just yet. And while NEVS is currently busy preparing the electric car for China, it is also working on other models. To keep up with the changing times, NEVS is also looking into car sharing and autonomous technology for its fleet of premium models.

So NEVS looks to have the company on the right track in terms of markets and technology, but will its product offer the feel that made Saabs special and different? Explaining why any company fails is difficult, and this is no different with the collapse of Saab. For years under General Motors, the company struggled against falling sales and a diminishing market share as it battled the likes of BMW and Audi. While the Spyker deal gave it hope, it was always fighting a losing battle.

Ultimately, this was the last chance, and closure soon followed. And Saab resisted GM attempts to standardise. Holveg and Oliver reported Saab was too small to compete, producing just , units a year.

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