BUSINESS BRIEFING / AUTOS : Saab to cut 37% of its U.S. dealers

Saab Automobile, which is being sold by General Motors Co. to Sweden’s Koenigsegg Group, said it would slash its U.S. dealer network by 37% after Saab’s North American sales plunged this year.

GM, which held the contracts with Saab’s dealers, has canceled the agreements with all of the Swedish carmaker’s 218 U.S. outlets, Saab said. Koenigsegg and Saab have decided to renew contracts with 137 dealers based on their size and location, Saab said.