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End of SAAB (?)
Published 31/03/2011 @ 15:04:07, By ingo

I guess there is no luxury cars for eccentrics any more.


And made by eccentrics :wink: Unfortunately for you this article is in German:
http://www.autobild.de/klassik/artikel/eine-autofabrik-vom-anderen-stern-60293.html
It's written about the really strange behaviour of makers (CEO would be a bit too high formulated) - and the fierce log-time-fight between the company-owner and the chairman of the Bristol Owners Club.


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End of SAAB (?)
Published 05/04/2011 @ 21:49:11, By Sandie
SAAB Halt Production for a second time

* Second stoppage in as many weeks
* Claims that suppliers haven't been paid
* Saab boss says company not on 'verge of collapse'

Saab has once again halted production because of a shortage of parts from its suppliers.

The stoppage comes the day after Saab had reassured investors that its finances were sound.

Saab spokeswoman Gunilla Gustavs said: 'Production has stopped right now. It was stopped this morning.

'We are working intensively to make sure the flow gets going again. We are having discussions with suppliers and doing our best to come to mutual agreements.'

She was unable to confirm how long the stoppage would last, but a similar stoppage last week closed the production line for three days.

Unpaid bills
Saab's owner, Spyker, said that last week's halt in production – caused by unpaid bills – was no more than a small hiccup and that the company was not in danger.

Reports suggest that several of Saab's largest suppliers have stopped deliveries because of the unpaid bills.

Spyker CEO and Saab chairman Victor Muller claimed that Saab was still operational and not on the 'verge of collapse'.

He said that by 2012, Saab will have the biggest and widest range in its history.

However, he also predicted the company would experience more halts in production. 'This is an ongoing thing. It will take some time to get everyone back in line properly, he said. 'We will get it under control.'


Not looking promising at all.
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End of SAAB (?)
Published 05/04/2011 @ 23:12:59, By chicomarx
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End of SAAB (?)
Published 22/04/2011 @ 20:49:36, By Sandie
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End of SAAB (?)
Published 03/05/2011 @ 15:38:28, By Sandie
A third stoppage but they have got new funding

Saab clings on with new funding
Tuesday, May 03, 2011

* Production has stopped again…
* …but should restart within a week…
* … thanks to new funding


Saab has been forced to halt production again, but hopes to restart factory lines next week after new funding is secured.

Saab's owner, Spyker, says it has secured a €120 million investment from Chinese company Hawtai, as well as a €30 million loan, and hopes to restart production of cars next week.

Spyker's boss, Victor Muller, said the partnership with Hawtai: 'Allows Saab Automobile on one hand to continue executing its business plan, while on the other hand it allows it to enter the Chinese car market.'

Mr Muller described the production stoppages as painful and said: 'We will make it our top priority to restore the confidence of our suppliers, dealers and partners and apologise to them as well as to our dedicated employees for the disruptions that have occurred.'

Despite the new funding, Muller said Saab is now unlikely to meet its production target of 80,000 new cars.

The company plans to launch the SportCombi estate version of the 9-5 this summer and the all-new 9-3 compact executive in 2012.

Latest Edition: 03/05/2011 @ 15:38:43
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End of SAAB (?)
Published 13/05/2011 @ 15:19:27, By Sandie
That funding has now fallen through apparently.

:sad:
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End of SAAB (?)
Published 13/05/2011 @ 19:57:07, By chicomarx
Volvo has expressed an interest, which could mean Saab will go to the Chinese after all.

The Swedish government, which last week gave conditional backing to free up cash for the struggling Saab business, is reportedly talking to Volvo Cars about Volvo's possible interest in bidding for Saab. Volvo is owned by China's Geely.

Saab has run into a cash crunch in its first year of ownership by Dutch niche carmaker Spyker (SPYKR.AS) after its 2010 sales fell short of forecasts.
Victor Muller, chief executive of Spyker, declined to comment, Dutch news agency ANP reported.

Geely, parent of Geely Automotive Holdings (0175.HK), took over Ford Motor's (F.N) Volvo car unit in August 2010, in China's largest acquisition of a foreign car maker.

Earlier this week, Muller said that the Swedish car maker is negotiating with a wide range of Chinese car makers about a tie-up.
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End of SAAB (?)
Published 26/06/2011 @ 21:01:33, By ingo
This week, at the Midsommar-day, a feast day in Sweden, the Saab-management has said, that they aren't able to pay the receivable salaries of the employees. And that the supplier-companies shall get 10% of their accounts, the rest later, perhaps in the autumn.
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End of SAAB (?)
Published 07/09/2011 @ 14:58:35, By Sandie
They have filed for bankruptcy protection earlier today.

My local SAAB dealer is offering £10,000 off a new 9-5 so obviously sales aren't great.

As much as it grieves me to say it I reckon they have at best another couple of months.
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End of SAAB (?)
Published 07/09/2011 @ 16:34:51, By chicomarx
Damn... For the last few days it still looked as if the Chinese could be fooled into injecting some money... Sad day for atom's home town.

My local SAAB dealer is offering £10,000 off a new 9-5

Go for it.
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End of SAAB (?)
Published 07/09/2011 @ 17:00:46, By antp
That's quite a discount indeed
(at first read, I thought it was the price of the car :D)

Latest Edition: 07/09/2011 @ 17:01:29
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End of SAAB (?)
Published 08/09/2011 @ 22:40:24, By chicomarx
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End of SAAB (?)
Published 22/09/2011 @ 19:02:46, By Sandie
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End of SAAB (?)
Published 12/10/2011 @ 14:50:40, By Sandie
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End of SAAB (?)
Published 28/10/2011 @ 14:43:03, By Sandie
Sold to the Chinese.

Chinese firms buy Saab
28 October 2011

Saab sold to Chinese car makers
Deal worth £88 million
Deal still needs Government approval

Saab is set to pass entirely into Chinese ownership, after parent firm Swedish Automobile agreed to sell the troubled manufacturer to Pang Da and Youngman.

The deal, which includes Saab GB, was announced this morning. Chinese car maker Pang Da and Youngman will pay €100 million (£88m) to complete the deal – a huge drop from a recent valuation of Saab's value.

As recently as June, Pang Da and Youngman signed an agreement with Swedish Automobile that valued the company at around €480 million (£423m).

That deal failed after Chinese Government approval was not forthcoming. The same caveat will apply to the new deal; Swedish Automobile says the memorandum of understanding with Pang Da and Youngman will last until November 15, providing Saab stays in its current state of voluntary reorganisation.

Swedish Automobile claims the agreement includes 'a commitment to provide long-term funding to Saab Automobile', but the new owners have not issued any model plans.


I wonder how this will play out if it is approved.
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End of SAAB (?)
Published 30/10/2011 @ 12:37:54, By antp
I wonder if it is a good thing or not...
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End of SAAB (?)
Published 08/11/2011 @ 16:40:16, By Sandie
Not content with being the people who destroyed the company in the first place GM have blocked the sale: http://www.pistonheads.com/news/default.asp?storyId=24646&utm_source=newsletter&utm_- medium=email&utm_content=html&utm_campaign=2011-11-8
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End of SAAB (?)
Published 20/12/2011 @ 01:28:48, By night cub
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End of SAAB (?)
Published 20/12/2011 @ 01:40:50, By chicomarx
Yes, game over. GM killed the deal with the Chinese for fear of handing over their latest technology.

Belgium's Saab importer Beherman also filed for bankruptcy today.

:sad:
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End of SAAB (?)
Published 20/12/2011 @ 02:15:52, By Sandie
It's a crying shame. After the way they acted in the dying days of the firm I'm not going to buy another GM product again. Not that this is any great loss to me. That said I think those on the other side are far from blameless. Mr Muller strikes me as something of a dreamer to be honest whose aspirations were a long way off his actual capabilities.

As ever, the only people who will lose out will be the workers.
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End of SAAB (?)
Published 21/12/2011 @ 21:06:42, By crown vic guy br
2011 was a sad year
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