GM's Saab scraps planned sport utility vehicle-WSJ

NEW YORK, May 6 Reuters reported that General Motors Corp.'s Saab unit has given up plans for a seven-passenger sport-utility vehicle because of worries that developing it would require too much investment and not generate enough returns, the Wall Street Journal reported in its online edition on Monday.

The proposed vehicle would have entered the market in late 2004 but company officials were concerned that by the time it hits the market the popularity of sports-utility autos might have faded, the paper reported.

Sweden-based Saab is still sticking to its aggressive goals for expanding sales, the paper reported.