Saab story gets even sadder

Old 12-28-2011, 11:25 AM
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Default Saab story gets even sadder

Saab's 20-year death spiral ended Monday with a liquidation filing in a Swedish court.

That's bad news for the “Born from Jets” automaker's hardcore fans, whose hopes for a Chinese rescue had been dashed again and again and are now gone for good.

And it's worse news for the 9,000 or so buyers who braved a Saab dealership since General Motors set the marque free in February 2010. The company announced Tuesday it would suspend warranty claims currently in its system and no longer provide warranties on the roughly 3,000 brand-new vehicles remaining on the lots.

That means your Saab is no less quirky than it was last week, but it is certainly worth a lot less.

“Demand for used Saabs will start to drop off 2 percent - 3 percent immediately,” Alec Gutierrez, senior market analyst at Kelley Blue Book, told Smart Money.

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