General Motors is considering selling its Swedish premium brand Saab.

"We will look at all the possible options, including possible sale, starting immediately," Fritz Henderson, GM's vice chairman and chief operating officer, said yesterday.

Henderson said a speedy decision to the future of the Swedish brand was desirable, but would give no timeline for how long it will take.

"We will work to bring a resolution to this. Sooner is better," Henderson said in a conference call.

The Saab review is part of GM's restructuring plan, which the automaker will submit to the U.S. Congress this week.

The plan says GM will focus on its "core brands" of Chevrolet, Buick, GMC and Cadillac.

In addition to the Saab review, GM said it was looking at alternatives to its Saturn brand and will reduce further its manufacturing costs.

GM has already carried out a review of its Hummer SUV brand.

In Europe, Henderson said the company was talking to employee representatives at its German unit Opel about cost savings.

He added that he was pleased with the reaction to Opel's new products such as the new Insignia upper-premium sedan, but said: "The conditions in Europe are miserably difficult at the moment."

The automaker is asking for loans of up to $12 billion to enable it to keep running through December 31, 2009.

GM said it will need to draw the first $4 billion in December 2008.

In addition to the bridge loans, the company is requesting a $6 billion line of credit to provide liquidity should a severe market downturn persist.

GM said it would repay the loans as soon as 2011.