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Toyota Makes Recall Fix And So Long Saab
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CNBC Correspondent
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A month and a half after announcing a safety recall of 3.8 million vehicles as risk of having accelerators trapped under floor mats, Toyota has a plan to fix the problem.
The automaker will be replacing the accelerators in the vehicles affected and in some models; it will install a brake override system.
It's that last part which will get a fair amount of attention. Around the country there have been complaints filed claiming some Toyota models have unintended acceleration and cannot be stopped. Despite six federal probes that have not found unintended acceleration, there are some who insist the problem with Toyota's goes well beyond gas pedals getting stuck in floor mats.
Saab
Saab is not officially dead, but it's pretty darn close.
Once I broke the story yesterday about Koenigsegg Group getting cold feet and calling off plans to buy Saab, I noticed the lack of an outcry from Saab loyalists. The silence, in my opinion, says everything you need to know about how far Saab has fallen and why I doubt GM will try to revive plans to sell it.
Saab has always been a niche brand. Nothing wrong with that, but when your niche disappears, your left without a home. And Saab has been without a home for years. The models are too expensive to compete with the Chevy's of the world and not luxurious enough to win over Audi, Lexus, and Caddy buyers. Lost in limbo with uninspiring models, Saab has lost its relevance.
On top of that, Saab has a higher than normal cost structure with its plant in Sweden. Combine all of this, and you see why GM will have a tough time finding another buyer for Saab.
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