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End of SAAB (?)
Published 01/12/2009 @ 22:06:37, By chicomarx
GM to phase out Saab without deal by year end

(AP) 13 minutes ago

DETROIT; General Motors Co. said it will phase out its storied Swedish Saab brand if no deal is reached by the end of this month.

GM's board met Tuesday to decide the fate of Saab after a group led by Sweden's Koenigsegg Automotive AB dropped out of a deal last week to buy the company. About 4,500 jobs at Saab are at stake.

New potential buyers have emerged, GM said, so the board put off a final decision until the end of December. The automaker said in a statement that if it can't find a "suitable arrangement" for Saab by then, it would "will begin an orderly wind down" of the unit.

GM would not identify the potential bidders. Last week, the Chinese company Beijing Automotive Industry Holdings said it would re-evaluate Saab, but stopped short of saying it would make an independent bid. Beijing Automotive had been part of the Koenigsegg team.

The failed Saab sale marks the third time this year that GM couldn't close a deal for an unwanted brand that it is shedding as part of its reorganization.

GM decided to close Saturn after a deal with auto dealer Roger Penske fell through. And the automaker's board decided to keep the European automaker Opel after deciding it was too heavily integrated into the company for GM to let it go.

------------

EDI Weekly Dec 1 Issue: End Of Saab

With no state-guaranteed loans or private buyers to save it, it appears that Sweden's Saab will disappear. Negotiations between a consortium led by luxury Swedish carmaker Keonigsegg and General Motors, Saab's owner, which had been ongoing since last June, have collapsed.
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End of SAAB (?)
Published 01/12/2009 @ 22:15:32, By antp
:cry: I thought that Saab was saved by Koenigsegg
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End of SAAB (?)
Published 01/12/2009 @ 23:08:54, By t0nkatracker
Penske backed out of purchasing Saturn also. Saturn will be phased out by oct 2010. I can't believe SAAB won't been saved though.
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End of SAAB (?)
Published 04/12/2009 @ 22:12:25, By chicomarx
It will probably be saved by some Chinese investors.... The Swedish government refuses to invest a penny.

Here's "Top 10 Saabs Through History" selected by Winding Road magazine:

http://www.nextautos.com/list-top-10-saabs-through-history?gid=17020&nid=44127#gallery-17020
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End of SAAB (?)
Published 11/12/2009 @ 19:52:27, By BeanBandit
Nice, that light blue 96 is one of the last 300 made early 1980

Other Finnish SAAB specialities, like 99 Finlandia, etc.
http://www.lihikset.net/images/kuuppa/rare-saab.htm
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End of SAAB (?)
Published 11/12/2009 @ 20:31:09, By Lateef
My mother used to have a 1965 model 96. She sold it to a very happy buyer in the 80's. I hope it is still running.
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End of SAAB (?)
Published 16/12/2009 @ 23:07:17, By chicomarx
Doesn't look good, Saab goes Dutch or nothing. Spyker Cars.... :boggled: Whatever happened to Fiat? Renault? Suddenly China sounds appealing.

Spyker in last-ditch talks to buy Saab

Published: December 16 2009 19:37 | Last updated: December 16 2009 19:37

Executives from Spyker Cars were in Stockholm on Wednesday trying to thrash out a deal to buy Saab Automobile after General Motors said the Dutch sports car maker was the only remaining bidder for its struggling Swedish unit.


yesterday:

DECEMBER 15, 2009, 11:17 A.M. ET
UPDATE: Spyker The Only Contender For Remaining Saab Assets


General Motors Co. (GM) Tuesday said that Dutch sports-car manufacturer Spyker Car NV (SPYKR.AE) was the only remaining bidder for the remaining assets of Swedish unit Saab.

The announcement came as the Swedish government said it had been given the go-ahead to analyze an approach from a lead bidder--confirmed to be Spyker--as it considers a request to act as guarantor to EUR400 million in European Investment Bank loans to Saab.

GM's has struggled to seal a deal to sell loss-making Saab. It had picked Swedish sports car maker Koenigsegg Group AB as its preferred bidder, but Koenigsegg pulled out last month because it was taking too long to line up financing.

Earlier this week, China's Beijing Automotive Industry Holdings Co. bought intellectual property rights for some Saab 9-3 models, the current 9-5 models, as well as powertrain technology and tooling. It will use the equipment to build its own models.

Expressing the difficulty in selling the bulk of the Saab operations, GM interim Chief Executive Ed Whitacre said Tuesday he was "keeping my fingers crossed" for a deal.

Saab, like other GM divisions, fell into financial turmoil earlier this year as a global slowdown in the auto industry aggravated its existing balance-sheet problems. The Swedish unit filed for protection from its creditors in February, exiting in the summer after reaching an agreement with creditors to write off about 75% of its debt.

Spyker is being backed by its biggest investor, Russian banking group Convers Group, in its bid for Saab. While it will likely get Swedish government guarantees for a EUR400 million loan from the EIB, it will also have to find more financing and that may prove a problem for Spyker.

Spyker produced 43 cars in 2008, selling 37 and earning revenues of EUR7.9 million. However, it has been loss making ever since the company went public in May 2004. In the first half of 2009 its net loss was EUR8.7 million, about the same as last year.

Like car makers the world over, it has been hit by the economic downturn over the past two years. Earlier this month it announced that it was moving production from the Netherlands to Coventry in the U.K., where its major supplier is based, to try and cut costs.

Spyker declined to comment on how it will finance the acquisition of Saab.

Swedish State Secretary Joran Hagglund, the government's main liaison with the auto industry, said GM is working to complete a deal before the end-of-year deadline.

Latest Edition: 30/12/2009 @ 22:40:23
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End of SAAB (?)
Published 17/12/2009 @ 11:49:48, By antp
I wish I had few billions to buy Saab :grin:
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End of SAAB (?)
Published 17/12/2009 @ 20:36:31, By ingo
As I've read, the price for the whole Saab-company will not be extremely high - because it's so desastrously ruined.

The magazine- and internet-articles I've read about the end of Saab, had all the conclusion, that Saab was quite dead, when GM overtook it 20 years ago - and had it absolutely destroyed in the following years. Wrong managers, wrong cars and- the most important thing- absolutely no idea and feeling for the unique Saab-typical pecularities (of the constructions, the makers and the class of customers, too).

Ca.15 years ago I've heard from real hardcore-longtime Saab-freaks (the family, who started to Saab-import to Germany in 1967, before Saab had any residence over here), that they have lost their interest in the brand since GM is there. "The most expensivest way to drive an Opel Omega", they have said about the 9000-series.

A 9000 they have used as all-day-family-car, to save the more interesting 900's, 99's, 90's, 96's, 95's, they had owned, too.
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End of SAAB (?)
Published 18/12/2009 @ 00:20:10, By chicomarx
The part about GM is absolutely true, the Opel part not quite, even if the 900NG was built on the same chassis as a Vectra, it's not a Vectra. Although Saab was losing money even before the GM takeover, despite the success of the 900. I'm hoping for a last-minute buyer. I understand if BMW isn't buying, they would be competing with their own product. But VW Group?.. Fiat was also bidding for Opel at one point.

It's a brand with so many enthusiasts. But this:
"Beijing Automotive Industry Holdings Co. bought intellectual property rights for some Saab 9-3 models, the current 9-5 models, as well as powertrain technology and tooling. It will use the equipment to build its own models."

sounds like they're already dividing up the carcass.
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End of SAAB (?)
Published 18/12/2009 @ 08:51:32, By ingo
It's a brand with so many enthusiasts.


"So many" is not really correct - "some, but not enough" is closer to the truth. And the old, unique, long-time Saab-fan-community is not exosting any more. GM has alienate them during the last 20 years.



What you are saying about the Chinese company, is usual everywhere else: they arean really interested in a production outside of China. They only want to have the construction-plans, the technology-specifications and the tools - not even the official copyrights and patents are important for them.
With that stuff they open on own production in China.
Yes, cutting up the carcasses, this will happen with Saab.
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End of SAAB (?)
Published 18/12/2009 @ 16:33:55, By atom
GM have just now start to close down SAAB as Spyker is out of the deal.
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End of SAAB (?)
Published 18/12/2009 @ 16:35:55, By chicomarx
yes...

"GM signals the end for Saab"

"End of road for legendary Swedish brand Saab"

...

http://www.youtube.com/watch?v=jjMfQG4DejQ
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End of SAAB (?)
Published 20/12/2009 @ 22:41:05, By ville84
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End of SAAB (?)
Published 06/01/2010 @ 01:42:43, By chicomarx
Saab lovers rally to save brand as GM board meets

Tue Jan 5, 2010

DETROIT, Jan 5 (Reuters) - Saab enthusiasts rallied on Tuesday afternoon next to their beloved cars holding "Save Saab" signs that they hoped the General Motors Co [GM.UL] board of directors meeting 39 floors above could see.

The gathering of Saabs and their owners in a parking lot next to GM headquarters took place as the board considers whether to kill the unprofitable brand or sell it.

Ryan Emge, who runs the website SaabHistory.com from Portland, Maine, organized the low-key rally.

"At one point, we all turned around to show our signs to the people at GM," said Emge. "If the board saw them, I don't know. I hope they were paying attention."

Saab has a devoted following, but the Swedish brand has consistently lost money for GM in its 20-year ownership.
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End of SAAB (?)
Published 09/01/2010 @ 22:39:43, By chicomarx
:love:
A Saab is the only car she ever wanted to own

Five days ago, Drive On told you about the hardy 28 Saab owners who drove from around the country to Detroit to demonstrate in front of General Motors' headquarters in hopes that the automaker will relent and save Saab.

Well, things aren't looking particularly good on the Saab front, but we thought you'd like to meet one of the owners who struck up a conversation with Drive On's Sharon Silke Carty as they froze together in a downtown parking lot last week.

Suzanne Shelata has only ever bought one brand-new car: A 1997 Saab 9-3 convertible. She fell in love with it instantly, but realized she didn't have enough cash to buy it. So she went job hunting.

http://i368.photobucket.com/albums/oo124/marxbrosfan/shelatax-wide-community.jpg

"First I found the car, then I found a job," says the Hamburg, Michigan, resident. "And it's the only car I ever want to own."

The car has become more than a car to Shelata. It's a cause.

"I want to see Saab live. I think it would be such a loss," said Shelata says.
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End of SAAB (?)
Published 10/01/2010 @ 01:16:06, By Sandie
I hope SAAB gets saved. It's always been a brand I've liked.

If you look at the history you see that they have been slowly killed by GM's mismanagement of the brand and a failure to invest and advance the name. If you look at the Germans and even Volvo they have diversified their brands. These firms used to build just saloons and estates but now make everything from hatchbacks to SUVs. SAAB ignoring US only Saabarus on the otherhand have stuck with their two car range.

However, they reckon that a Swiss(?) investment firm (Who own Renault F1) and Bernie Ecclestone are also bidding to bail them out. I hope they succeed as the next 9-5 looks like a genuinely class product and the 9-4X can enable them to move into new markets.
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End of SAAB (?)
Published 11/01/2010 @ 17:40:49, By chicomarx
I'll keep bringing the bad news, the latest bids from Spyker Cars, Bernie Ecclestone and others, have made little impression on General Motors it seems.

DETROIT (Reuters) - General Motors Co sent its clearest signal yet on Monday that none of the bidders for Saab had submitted an offer that would prompt the automaker to reverse a decision to shut down the Swedish luxury brand.

"We're closing down Saab," GM Chairman and acting Chief Executive Ed Whitacre told reporters on the sidelines of the Detroit auto show. "We're winding it down."

Latest Edition: 11/01/2010 @ 17:41:14
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End of SAAB (?)
Published 11/01/2010 @ 19:01:46, By vilero
:cry: And what will be about my swedish from now on? :cry:

http://www.geting.se/image.php/14560-V12.JPG

Shall I change its 'blue barents' into yellow? :cry:
http://www.geting.se/image.php/214092-V11.JPG
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End of SAAB (?)
Published 23/01/2010 @ 17:47:18, By chicomarx
Saab art and wallpapers: http://www.classiccarprint.com/saab.html

http://i368.photobucket.com/albums/oo124/marxbrosfan/Save-Saab-AliveT.jpg

How about a SAVE SAAB button on imcdb, antp?

http://i368.photobucket.com/albums/oo124/marxbrosfan/Save-Metal-Logo.png

http://www.rescue-saab.com/en/

Latest Edition: 23/01/2010 @ 20:04:21
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