GM to build Saab cars in US, retain nameplate

0 Comments | AFP, July, 2008

DETROIT, Michigan (AFP) — General Motors will begin building Saab vehicles in the United States rather than put its Swedish subsidiary up for sale, GM chairman and chief executive Rick Wagoner said Friday.

"Saab is a critical part of our European product portfolio and frankly, it does quite well in Europe and tends to be quite a good money maker for us," Wagoner said during an appearance at GM's new engineering development center in Pontiac, Michigan.

"The issue at Saab is trying to sell too many Saabs in the US as the Swedish (kroner) has strengthened against the dollar. We can't push volume in the US. We have to let it settle out and reflect the currency.

"But we've got a number of new (Saab) products coming up beginning in the third quarter next year and...