GM to wind down Saab operations

General Motors' announcement on Friday that it will wind down its lossmaking brand Saab Automobile brings an end to the iconic Swedish brand after six decades of car manufacturing.

Updated on: Dec 18, 2009, 23:45:14 IST

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General Motors' announcement on Friday that it will wind down its lossmaking brand Saab Automobile brings an end to the iconic Swedish brand after six decades of car manufacturing.

GM said that it had failed to reach an agreement with Dutch sports car maker Spyker on a sale of the division, just three weeks after another luxury car maker, Koenigsegg of Sweden, withdrew its bid for Saab.

The Detroit auto giant had acquired Saab 20 years ago.

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