BAIC to replace Shanghai GM as new agent for Saab

Beijing Automotive Industry Corporation (BAIC) is expected to replace Shanghai General Motors as the new sales agent for Saab vehicles in China, reports Southern Metropolis Daily, citing foreign media reports.

According to several dealers of Saab vehicles, BAIC stands a good chance of becoming the new agent for Saab vehicles.

BAIC had in December 2009 reached an agreement with General Motors to acquire the production lines and related assets of the Saab 9-5 model.

The report added that there was no official confirmation of the news.

Shanghai General Motors is a joint venture between SAIC Motor (600104) and General Motors.

Saab, purchased by Dutch supercar maker Spyker Cars, said it will unveil its new agent in China as soon as possible.

According to Adrian Hallmark, Saab’s executive director of sales, Saab expects to record annual sales of more than 10,000 units in China.