The outlook for Swedish carmaker Saab deteriorated further on Friday as its Dutch parent Spyker Cars NV (SPYKR.AS) cut its 2011 target and turned to shareholders as well as Chinese companies for funds. Amsterdam-listed Spyker bought Saab from General Motors Co (GM.N) a year ago but has struggled to turn around the company. In recent weeks it has desperately scrambled to find new sources of funding so it can pay its suppliers, after several stopped delivering parts, bringing Saab's assembly line to a standstill for much of April. On Thursday, Spyker was thrown a lifeline when Sweden's Debt Office and GM both said they approved a plan for Russian entrepreneur Vladimir Antonov to invest 30 million euros in Spyker in return for a 29.9 percent stake.
General Motors Company (GM) is a global automotive company. Shares of GM traded higher by 0.75% or $0.24/share to $32.15. In the past year, the shares have traded as low as $29.17 and as high as $39.48. On average, 16158100 shares of GM exchange hands on a given day and today's volume is recorded at 396365.
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