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Because Volvo sold for $2B and Saab for $70M
Posted by dmz789qqq [Email] (more from dmz789qqq) on Fri, 23 Dec 2011 19:57:38
In Reply to: Ford sells Volvo to the Chinese but GM won't sell, Mitch, Fri, 23 Dec 2011 19:06:59
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GM spent about $2B acquiring Saab and was selling it to Spyker for 3 cents on a dollar. In such a sale it does not matter how much you sell it for - it is more important to make sure that the new company will not compete with your own product again.
It would make more sense for GM just to close Saab down 2 years ago - but they gave the Saab community a chance to keep the brand alive. But the community itself did not want put the money where their words were. Only a small fraction kept buying new Saabs and the brand went belly up in about a year.
Unlike Saab, Volvo was still worth real money and Ford needed the cash badly at the time - that is why it was sold to Chinese.
posted by 173.48.31...
Posts in this Thread:
- Ford sells Volvo to the Chinese but GM won't sell, Mitch, Fri, 23 Dec 2011 19:06:59
- Re: Ford sells Volvo to the Chinese but GM won't sell, Rob , Tue, 27 Dec 2011 07:21:24
- Chinese makes GM Cars, so why not Saab, Mysaab, Sat, 24 Dec 2011 13:03:32
- Re: Ford sells Volvo to the Chinese but GM won't sell, George K, Sat, 24 Dec 2011 12:44:18
- Because GM wanted Saab to die, nwas, Sat, 24 Dec 2011 07:09:28
- GM wants Saab to die, rm, Mon, 26 Dec 2011 14:40:21
- +1, ChuckD , Sat, 24 Dec 2011 09:02:25
- Re: +1, Justin VanAbrahams , Sat, 24 Dec 2011 09:21:47
- Because Volvo sold for $2B and Saab for $70M, dmz789qqq, Fri, 23 Dec 2011 19:57:38 <-- Viewing This Message
- Re: Ford sells Volvo to the Chinese but GM won't sell, 50N40W, Fri, 23 Dec 2011 19:23:36
- integrated Volvo fully into its engineering structure, Trev, Sat, 24 Dec 2011 10:42:09
- Re: Ford sells Volvo to the Chinese but GM won't sell, ST, Fri, 23 Dec 2011 20:58:28
- Lotus is likely a non-issue, steve, Fri, 23 Dec 2011 19:32:51
- Why Wikipedia is an idiot website, Sam, Sat, 24 Dec 2011 11:37:54
- another article on Youngman using the Lotus name, ryan , Sat, 24 Dec 2011 12:50:10
- Wikipedia isn't the issue, steve, Sat, 24 Dec 2011 12:04:14
- by the way, ryan , Sat, 24 Dec 2011 12:47:23
- umm, ryan , Sat, 24 Dec 2011 12:44:26
- Hear, Hear, ryan , Sat, 24 Dec 2011 11:42:19
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