With Saab likely checking out soon, classic models such as this third generation Sonett will quickly become highly prized collectables.It's been in the news lately, if you haven't heard. Unlike their fellow Swedish brand Volvo, Saab has officially filed for bankruptcy following their sale by General Motors to Spyker. Spyker was an unusual buyer in that they're a small boutique supercar builder, not one normally associated with building cars on a large scale. And after nearly two years of trying to make things happen, it that Saab is at the end of the road; unable to receive the required cash infusion to keep things alive.Before the door likely closes for good at the Saab factory in Trollhattan, we thought it would be interesting to take a look back at a Saab classic which has often been forgotten. The Sonett first premiered as an open top roadster in 1955 and was powered by a three-cylinder 57.5hp engine. With a top speed of about 120mph, 2,000 units were planned, but only six were built due to a change in race competition rules and economic and marketing realities.The second generation Sonett debuted in 1966 and it too was designed as a race car. It successfully went up against other European-made roadsters such as the Austin-Healey Sprite and Triumph Spitfire. The U.S. version was powered by the Ford Taunus V4 engine with 65hp.When combined with the car's fiberglass construction, the Sonett V4 could go from 0 to 62mph in 12.5 seconds. Production last until 1970 when the Clean Air Act of that year forced engineering modifications to the engine which couldn't be properly adapted to the car's body style. This change resulted in the Sonett being redesigned for 1970.