AUTOS

GM Raises Stake in Saab: The No. 1 U.S. auto maker said it will pump more money into the Swedish car maker and could obtain full ownership of the struggling company within three years. GM and Saab co-owner Investor each will inject $262 million, or a total of $524 million, in loans into Saab through 1997. In addition, GM will receive an option to buy some or all of Investor’s 50% stake in Saab in 1999 or 2000. The move continues GM’s recent efforts to make its Saab investment pay off by taking greater control of the auto maker. GM is betting that new models and a pumped-up marketing budget will boost worldwide sales enough to make Saab more than the regional player it is today. Saab’s two models have only 0.2% market share in the U.S., its largest market. GM shares fell 50 cents to $54.375 on the New York Stock Exchange.