Down but not out – General Motors’ Saab division in Sweden could yet be sold to luxury Dutch sports car maker Spyker Cars.

Earlier, talks with Spyker collapsed, leading GM to say it will wind it down the Saab business.

"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," Spyker chief executive Victor Muller said.

GM said it had received several inquiries about Saab and it was looking at all the offers.

"Should something concrete develop, we'll consider it, but in the meantime we're making the wind-down preparations," said GM Vice President John Smith, who is leading Saab talks.

Spyker said its new offer is an 11-point proposal addressing each of the issues that arose during the due-diligence process and would "remove each of the obstacles that were standing in the way of a swift transaction."

Spyker said the new offer has the full backing of Saab management and eliminated the need for a loan from the European Investment Bank. Spyker’s bid is backed by Russian banking group Convers Group.

Spyker emerged as a buyer of Saab after the withdrawal last month of a planned bid by Swedish boutique car maker Koenigsegg Group, which ran into problems getting financing for a deal.

Saab employs 3400 workers globally and has 1100 dealers.