Spyker Buys Saab New Lease On Life, But For How Long?

Saab always seemed less like a child to GM than a Swedish foreign-exchange student who never returned home. For 20 years, this wasn’t much of a problem, but GM’s bankruptcy has forced the automaker to kick some kids out of the house.

GM planned to simply dump Saab along with Pontiac and Saturn unless it received an acceptable offer, and it appears a deal with Dutch luxury automaker Spyker has finally been reached.

Unless you’re Bernie Ecclestone, the Formula One chief who almost nabbed Saab for a buck two weeks ago, the agreement looks like a win-win-win-win deal.

GM cuts loose another drag on its bottom line as its licks its financial wounds. Spyker finds entrée into a marketplace looking for cars that don’t belong in a James Bond film or the Dutch royal family garage. Rabid Saab fans (yes, they’re out there) are relieved.

As for Saab, it continues an unsurprising journey for a brand known for “quirky” or “weird” cars – depending on your point of view. (That it originated in the home of IKEA is probably no coincidence.) Guardian columnist John Crace calls the idea that Saab “might ever have been a viable car brand” a myth – and Crace has owned a Saab for 10 years.

Last month Saab was declared a “Dead Brand Walking” and “Officially Børked,” and it’s still possible that Business Week will recycle its “Saab dies – again” headline. Saab’s new owner will have to make several decisions for a brand that was arguably mismanaged for a number of years, but if the Saab name (an acronym for the Swedish Aeroplane company) is going to change, we’d suggest Lazarus.