General Motors signed an agreement Tuesday to sell its Saab division to Koenigsegg Group AB, a consortium led by the small Swedish builder of million-dollar Koenigsegg supercars. The sale will conclude by the end of the year, when the group takes over 100 percent of the Saab company, which has been a perennial money loser for GM. The Detroit automaker purchased the Swedish company about two decades ago. Saab is one of the brands that GM is shedding as it emerges from bankruptcy. Deals are pending to sell Saturn to the Penske group and Hummer to a Chinese machinery company. Pontiac will be discontinued next year.(SPEEDtv:)(8-19-2009)
