A new hope?

"The Spyker leadership has submitted a renewed offer in the hopes of securing a future for Saab, its employees and the brand - despite the announcement that the winding down of Saab would begin," the company said in a statement.

Spyker said it hoped "the renewed offer would remove each of the obstacles that were standing in the way of a swift transaction."

The company's chief executive, Victor Muller, said its revised bid included an 11-point proposal addressing issues that arose during the due diligence process.

"We have made every effort to resolve the issues that were preventing the conclusion of this matter and we have asked GM and all other involved parties to seriously consider this offer," said Muller.

He added that the new offer eliminates the need for loan approval by the European Investment Bank (EIB) prior to year end, which would allow the deal to be concluded within GM's original December 31 deadline.

While Muller did not reveal any details about the financing of the new offer, he said Spyker's bid would remain valid until 11pm Central European Time (5pm Eastern Time) on Monday.

Several suitors

On its website, General Motors said it had received inquiries from several potential bidders since Friday's announcement that it would start the orderly closure of Saab.

"We will evaluate each inquiry. We will not comment further until these evaluations have been completed," GM said in a statement.

The head of Sweden's influential IF Metall union urged GM to seriously consider the renewed bid for Saab, which employs about 3,400 people in Sweden.

"I understand the frustration felt by everyone who is dependent on Saab: to be thrown between hope and despair is terrible. GM must now respond with a serious examination of the new bid," union chairman Stefan Loefven said.

Swedish media report that the closure of Saab could lead to more than 8,000 job losses, including subcontractors and others dependent on the carmaker. The company's global distribution network is comprised of 1,100 dealerships.

GM has been trying to sell the unit since the start of the year. Swedish luxury carmaker Koenigsegg, which builds around 18 high-end sports cars a year, pulled out of a deal to buy Saab last month, citing costly delays.

Like Koenigsegg, Spyker is also a premium niche manufacturer. In 2008, it sold just 37 cars worldwide with prices starting at 200,000 euros ($290,000).

Saab sold just over 93,000 cars last year. The company's history as an automaker dates back to the 1940s, when the first cars were produced by the Swedish aircraft maker Svenska Aeroplan Aktiebolaget or SAAB. GM acquired Saab Automobile in 1990.

sje/AFP/Reuters

Editor: Michael Lawton