Koenigsegg Backs Out of Plan to Buy Saab From GM DETROIT, MI (Associated Press) - General Motors says a Swedish specialty car maker no longer wants to buy GM's Saab brand.

GM CEO Fritz Henderson says the Detroit automaker is disappointed in the decision by Koenigsegg Group not to buy Saab. He says GM will take the next several days to figure out what to do.

The decision casts serious doubt on the future of Saab. GM wanted to sell or close the brand this year.
© Copyright 2010, Associated Press