CNBC: Koenigsegg deal to buy Saab crumbles

UPDATE
Apparently GM still has hopes of finding a buyer for Saab.

"I talked to GM last night and my impression is that they have not given up hope," Joran Hagglund, state secretary at Sweden's Industry Ministry.

On Tuesday, the Swedish government ruled out offering any bailout cash to Saab. Time will tell but referring to my tweet yesterday, I think we may be seeing the end of Saab.

BREAKING NEWS
CNBC is reporting this morning that the deal that has been in the works since June for Koenigsegg to buy Saab has failed.

Koenigsegg decided to pull out of the deal which, of course, brings into question Saab's viability. Saab vehicle sales have dropped 61.5 percent this year with only 7,400 cars sold in the United States.

When this deal was announced, I thought this was an unlikely pair. Why would a small, boutique manufacturer like Koenigsegg take over a much larger company like Saab? Other than they are both Swedish-based, it didn't make any sense. I think most enthusiasts would agree that Koenigsegg should stick with what they know best and that's making high-performance exotics. Maybe Koenigsegg's management thought the same.

Do you think this is the end for Saab? It doesn't seem likely that GM will do anything to keep the make afloat. They have enough problems of their own to worry about.