General Motors is to wind down its Saab business after failing to find a buyer.

The motor company said it will begin “an orderly wind-down of Saab operations”.

GM had been in talks with Dutch speciality car maker Spyker over a sale. Talks with Sweden’s Koenigsegg also fell through earlier this year.

GM Europe boss Nick Reilly said: “We regret that we are not able to complete this transaction with Spyker Cars.”

It has been trying to sell Saab as part of its turnaround plans since January.

Source: BBC News