Deathwatch - SAAB to drive down memory lane?
How many cars did Swedish manufacturers SAAB sell last year? Just 30,000. That is just one of the reasons why the company has announced it can no longer afford to pay the wages of its employees. Eek.
According to the BBC, production at Saab's main plant in Sweden is currently on hold after it was unable to pay suppliers. A deal has been reached with two Chinese companies for substantial investment in the company, but this is not guaranteed - the deal still needs approval from Chinese and European regulators.
Analysts believe SAAB needed to sell 120,000 last year to break even; missing that target by 90,000 plus continued under-investment means we could be soon saying goodbye to a motoring brand nobody much cares about in the 21st century anyway.