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Saab Abandons Plans for SUV

May 3, 2002

General Motors Corp.'s Saab luxury unit has given up plans for a seven-passenger sport utility vehicle, amid concerns that developing the SUV would require too much investment and not generate adequate financial returns, according to a Wall Street Journal story by Gregory L. White.But Saab is sticking to its aggressive goals for expanding sales, officials said May 3.The SUV would have let Saab compete in one of the hottest segments of the luxury market, but would have hit the market in late 2004, well behind rivals' offerings, many of which already are selling well.Saab spokesman Kevin Smith said Saab still aims to about double its U.S. sales volumes to 70,000 vehicles a year by the end of 2004.
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