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Svenska Aeroplan Aktiebolaget, or the acronym SAAB, was established in 1937 with the express purpose of building aircraft for the Swedish Air Force. As World War II was ending, it was apparent that the company's market for military aircraft would decline and after considering other options, Saab decided to move into the passenger car market. The company's first car, the Saab 92, was a streamlined steel-bodied two-door saloon (sedan) with a two-cylinder two-stroke engine driving the front wheels and with independent suspension all round.
General Motors Corporation bought 50% of Saab Automobile on 15th March 1990 for $600 million.
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