F&I Management & Training

General Motors (GM) says it has begun the process to "wind down" Saab, but will also continue efforts to find a buyer for the Swedish carmaker.

GM said it had selected restructuring group AlixPartners to supervise an "orderly" winding down at Saab, which it expected to take several months.

The US group also confirmed that it had received several proposals for Saab, which it was continuing to evaluate.

One bid has come from a group including Formula One boss Bernie Ecclestone.

Swedish union IF Metall, which has a representative on Saab's board, criticised GM's decision to start the liquidation process while still continuing to explore a sale.

"It is irresponsible of GM as an owner to go in two directions, both pursuing the sale [of Saab] and the winding-up," said Stefan Loefven, the union's leader.