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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...
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