General Motors plans to get rid of Swedish automaker Saab, a brand it bought in 2000, according to ScrippsNews.com.
A consortium led by Koenigsegg Automotive AB plans to take on Saab, thanks to $600 million from the European Investment Bank guaranteed by the Swedish government.
In May, sales of Saabs fell 64 percent in the U.S. to 783. Saab sales in Europe dropped 66 percent to 2,191.
However, these seemingly dismal numbers have not stopped the automaker from cranking out new models. At the Geneva Auto Show last March, Saab introduced the 9-3X, an all-wheel-drive wagon powered by a 2-liter turbocharged, 210-horsepower, 4-cylinder gasoline engine. And a larger sport utility vehicle, the 9-4X, will arrive soon.