GM sells off Saab; GM Daewoo not on the selling block

Today's news about General Motors' ongoing bankruptcy is that GM has sold Saab to Sweden's Koenigsegg, the maker of $1.2 million supercars that go 240 miles per hour (below).

And that means that GM Daewoo is still firmly a part of General Motors's post-bankruptcy restructuring. With the earlier shedding of Opel (I drove one in Europe; nice car), the sale of Saab, in fact, means that Chevrolet is GM's only presence in Europe now. This is Korea-relevant because Chevrolet Europe is actually run by GM Daewoo. (Similarly, the recently sold-off GM subsidiary Saturn will also have Korean cars — Samsung vehicles — play a significant role in its resurrection.)

[above: The Koenigsegg CCR, which has been clocked at 242 mph (395 kph). Driving through Scandinavia must be really boring if people want to get home that fast.]