Dealers hail late rescue of Saab

Dutch sportscar maker Spyker sealed a deal with General Motors to buy Saab for $74m in cash and $326m in deferred shares. The last-minute reprieve for Saab was welcomed by Yorkshire dealerships Alexanders Saab York, Robert Bowett Saab in Leeds and JCT600 Bradford.

David Alexander, dealer principal at Alexanders Saab York, said: "This announcement is great news for the Saab brand and for us as a dealership, marking an exciting new era for the company. With a number of new exciting product launches around the corner we are confident 2010 is going to be a great year for Saab."

As part of its strategy to focus on its four strongest brands in the US, GM began seeking a buyer for Saab in January 2009. GM had already started winding down the Swedish marque when it sealed the deal with Spyker.

The number of Saabs sold last year slumped to 39,903 from 94,751 in 2008, as sales were hampered by customers' shrinking access to credit and the global recession.