SAAB bankrupt, drops warranty coverage

Swedish auto maker SAAB has been declared bankrupt.   SAAB's US dealers have been advised that warranties will no longer be honored, and all remaining new cars will be sold "as is."  Current SAAB owners are basically screwed.

According to a leaked memo to Saab dealers obtained by Autoblog, the bankrupt automaker is ceasing all warranty coverage on its vehicles in North America.

The memo was sent out Monday following a Swedish court's approval of Saab's bankruptcy petition and – as we suspected – all new vehicles will be sold "as is."

Government General Motors bought SAAB in 1989.  As GM swirled into it's own bankruptcy and socialization in 2009, it attempted to jettison the Swedish firm.  GM finally rejected an offer from Chinese automaker Zhejiang Youngman Lotus Automobile, choosing bankruptcy instead.

Sweden's only other auto manufacturer, Volvo, beloved of bumper sticker leftists, is now actually Chinese owned.