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Old 18th August 2011, 23:56   #61
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Default re: End of SAAB in 10 days? EDIT : Sold!

Add: Just found this link for those who are interested.

Saab Sales Data
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Old 22nd September 2011, 15:11   #62
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Saab to improve efficiency as Bankruptcy Halted

saved again. Saab should change its logo to a cat now.
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Old 5th November 2011, 10:26   #63
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Swedish automakerSaab was has agreed to sell itself to Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co.

Big trouble is brewing in little China. While Swedish automaker Saab was has agreed to sell itself to Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co. for what seemingly amounts to a pittance ($142 million and up to $854 million in long-term funding), General Motors,Saab's former parent in the United States, is apparently none too pleased.

In a statement by spokesman Jim Cain, General Motors noted the following: "GM would not be able to support a change in the ownership of Saab which could negatively impact GM's existing relationships in China or otherwise adversely affect GM's interests worldwide."

GM Issues Death Sentence To Saab Deal With China | The Truth About Cars
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Old 5th November 2011, 12:40   #64
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Saab is trying for a record for being in trouble for the longest period of time. Neither does it die, nor does it live. :P
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Old 13th December 2011, 22:02   #65
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"The Swedish automaker gets a(nother) lifeline. Reuters reports the company has received a last-minute payment from Chinese partner Youngman. A Swedish daily newspaper has said Youngman handed over around $5 million to cover tax expenses and that a further payment of $26.43 million is scheduled to show up on December 14 to take care of unpaid salaries. Youngman will reportedly also pay Saab a further $13.18 million by the end of the year."

UPDATE 1-Saab gets 11th hour payment from China's Youngman | Reuters
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Old 19th December 2011, 21:04   #66
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Saab files for bankruptcy after Chinese deal fails

"That basically was the last nail in the coffin of this beautiful company," Muller said in webcast news conference at the Saab plant in Trollhattan, southwestern Sweden.

Source:
The Associated Press: Saab files for bankruptcy after Chinese deal fails
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Old 20th December 2011, 13:40   #67
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GM never wanted the company to succeed. It's a fact now.
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Old 21st December 2011, 09:48   #68
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Saab suspends warranty coverage on North American vehicles. GM to honour warranties on all models sold when it owned the Swedish automaker.

Effective Dec. 19, "warranty coverage is suspended indefinitely for all new Saab vehicles sold. During this period, the warranty booklet must be removed from the owner information packet," Saab Cars North America said in a statement .
For any vehicle sold or leased during this period, the customer should be affirmatively advised that the vehicle does not carry any warranty coverage and is sold 'as is.' "

http://www.autonews.com/article/2011...#ixzz1h8hqEvLQ
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Old 22nd December 2011, 04:39   #69
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Default re: End of SAAB in 10 days? EDIT : Sold!

Quote:
Originally Posted by devarshi84 View Post
GM never wanted the company to succeed. It's a fact now.
You can't really blame GM for not allowing SAAB to succeed because GM did not want their technology falling into Chinese hands. The 9-3 is built on Epsilon, the 9-5 is built on Epsilon II, and the 9-4x is built on Theta Premium. 100% of Saab's lineup is built on GM platforms using GM technology and parts. These vehicles are modern and use advanced technology. GM doesn't want that tech falling into Chinese competitors' hands who can then copy it and sell it for cheaper. Most of the Chinese cars are cheap copies of existing vehicles anyway.
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Old 22nd January 2012, 13:42   #70
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Default re: End of SAAB in 10 days? EDIT : Sold!

Mahindra's still interested in SAAB.

"The receivers for bankrupt carmaker Saab said they are are talking with several possible bidders and would like to sell the Swedish company as a whole, but there have been no formal bids yet."

Cheers!

http://www.autonews.com/article/2012...#ixzz1jjEOCIbn
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Old 30th January 2012, 10:47   #71
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Default re: End of SAAB in 10 days? EDIT : Sold!

The news that came on ET - 5 companies including an "Indian" firm interested in buying Saab. Looks like M&M is eyeing.

Mahindra and Mahindra, four other firms keen to buy bankrupt Saab: Administrator - The Economic Times
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Old 30th January 2012, 11:48   #72
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Default re: End of SAAB in 10 days? EDIT : Sold!

If GM did not want their technology falling into Chinese hands, then would they be ok with an Indian company buying SAAB? Unlikely in my mind.

However, I do hope that M&M buys out SAAB and we can hope maybe for those wonderful all wheel drive technologies that SAAB has! That was a great brand - I just hope they dont let it die like this.
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Old 30th January 2012, 12:10   #73
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Default re: End of SAAB in 10 days? EDIT : Sold!

Latest on the SAAB deal. Five interested parties shown serious interest.

1. Zhejiang Young man Lotus Automobiles (China)
2. Brightwell Holdings (Turkish private - equity)
3. Mahindra and Mahindra (India)
4. Swedish stakeholders (SWD)
5. Magna -International (Canada)

Seems the deal would close shortly due to the economic situation !

Life with Saab - Essential Saab news
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Old 22nd February 2012, 09:33   #74
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BMW interested in SAAB ?

"One very interesting confirmation from the administrators was also that they highest bidder might not win the deal.

6-7 serious bidders have been confirmed and among them is a European car-manufacturer according to several sources to different media. What was interesting this time is that these companies want to build Saabs. We have gotten very strong indications from several independent sources that this european company is German and located in Munich."

Another Press-conference, but this time its interesting! | SaabsUnited.com
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Old 22nd February 2012, 09:42   #75
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Default re: End of SAAB in 10 days? EDIT : Sold!

Hopefully this bodes well for the future of SAAB. It was always one of the best in the quirky car manufacturers group but their volumes and pricing always made it difficult to be profitable.

I wonder what benefit a company like BMW would see in buying SAAB unless it was to take over existing factory/space instead of procuring it themselves to expand.
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