Finally! GM reaches agreement to sell Saab to Spyker
GM has finally has reached and agreement with Dutch automaker Spyker Cars NV regarding the future of this great Swedish brand.
“Today’s announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM,” said John Smith, GM vice president for corporate planning and alliances.
Bernie Ecclestone and Genii Capital make a bid for Saab
Saab is not quite dead yet! In addition to Spyker, another bidder has emerged. This new bidder is closely associated with the Formula One world and should be taken as a serious bidder for this Swedish brand.
The duo behind this bid is a Formula One chief executive Bernie Ecclestone and Genii Capital, the Luxembourg based investment company that recently bought a major stake in the Renault F1 team.
Update: Saab brand not dead yet, Spyker extends its offer
Looks like Saab still has some chance to survive, even though GM already talked about how the brand will wound down soon.
One of the bids that did not go through came from a Dutch supercar manufacturer Spyker, which now has extended the deadline of its final-final offer for the brand “until further notice.”
Saab brand can not be sold, brand to be wound down
This come as a surprise. It looked like Saab had plenty of parties who were interested buying it from GM. Looks like the negotiations did not go well as last month Koenigsegg Group AP withrdaw and now GM believes the discussion with Spyker Cars won’t lead anywhere.
As a result, GM will start an orderly wind-down of Saab operations. According to GM, Saab will continue to honor warranties, while providing service and spare parts to current Saab owners around the world.
GM close to finalizing Saab sale
As part of GM’s restructering process in the quest to become a more leaner and profitable organisation, it has been selling some of its less profitable brands both in the US and those it owns or co-owns around the world. This time its giving Saab the chop.
GM appears close to selling its Saab brand of cars though who is going to finally buy it is not clear. Saab has proved to be a thorn in its side, as without its sale the restructuring process will be delayed. Rumors have it that the Swedish exclusive sports-car maker Koenigsegg Automobile AB is the top bidder and it is probably a done deal between GM and Koenigsegg Automobile AB, but confirmation has still to come.
French Renault is interested in Saturn and Chinese Geely in Saab
We reported on Tuesday that one of the potential buyers for Saturn is Penske Automotive Group. Even though GM does not see much value in this brand there are plenty of companies who want to buy it from General Motors.
Just like Chrysler might be saved by Italian Fiat, there is now a high chance that Saturn will be saved by French brand Renault. Looks like European automakers are very interested in the big American market.
Chevrolet Volt-based Saab Fashionista Concept by Mayeul Walser
GM announced on Monday that it will focus on four brands. Unfortunately Saab is not one of the four brands. Very likely Saab will be sold to some Chinese company.
Despite unknown future for Saab, Mayeul Walser, a 4th year design student at Creapole-ESDI has created an interesting concept called Saab Fashionista.
Rendered speculation: 2010 Saab 9-5
Saab is in a big mess. Last month they filed for bankruptcy at Swedish courts and are now in reorganization which would eventually make Saab a fully independent business.
Thankfully they have not stopped development of new models. Just recently we brought you spy photos of the next generation 9-5.
Video: Saab Performance Team having fun in the snow
Here’s a great video of the Saab Performance Team from the snowy Sweden. It features two 9-3’s on an ice course, 9-3 Convertible that does drives only on the driver side tires(this is one of the first times it has been done on the snow) and a new 9-3X which will go against the all-new Audi A4 allroad.
Take a look at the action packed video below.
Saab files for bankruptcy, continues to operate
Global recession brings more bad news. Today GM confirmed that Saab has filed paperwork with local courts for reorganization that would eventually make Saab a fully independent business.
For the reorganization to happen GM needs around $1 billion for the new company. This is more than problematic as GM does not have that money and so far Swedish government has said NO.
Spy shots: 2010 Saab 9-5 prototype
Looks like Saab is the next automaker to go with the coupe-like design. Next-generation 9-5 was spotted yesterday in Sweden with heavy camouflage hiding most character lines.
Despite the camouflage we can see that the roof flows much smoother into the rear making it another coupe-like sedan.
Saab 9-3X unveiled ahead of Geneva Motor Show
Next month at the Geneva Motor Show Saab will introduce 9-3X, newest addition to the 9-3 range. According to Saab it is designed for people with active lifestyles who don’t want a large Crossover or SUV. 9-3X is a nice alternative to Audi A6 Allroad.
9-3X comes with higher stance and advanced all-wheel drive technology.
Saab revealed 9-5 Griffin Edition
This is the new Saab 9-5 Griffin Edition that will debut in the upcoming Detroit Auto Show.
Featuring a four cylinder 2.3 liter turbo engine kicking out 260hp, complete with exclusive 17″ wheels and Aero-kits, special badges and a matte chrome front lamp lining, with specially kitted interiors including accent colored leather stitching on the steering, hand brake lever etc.
2010 Saab 9-4X spotted without all the camouflage
Saab’s all new, 2010 9-4X CUV has now shed all of its camouflage, except for fake taillight covers.
The production model looks very much like the Saab BioPower concept that debuted at NAIAS 2008 last January. Codenamed GMT168, this Saab is expected to start production at the Ramos Arizpe plant in late 2009, although it might now be delayed by several months.
Continue to read: 2010 Saab 9-4X spotted without all the camouflage
Saab unveils 9-3 2.0T Convertible Special Edition at the Los Angeles Auto Show
The first ever Saab Convertible made its world debut at the Frankfurt auto show in the fall of 1983. Now, 25 years later, a Special Edition makes its American debut at the Los Angeles International auto show which opens to the public on November 22.
This new version of the Saab 9-3 Convertible will be showcased in a unique bright champagne metallic color.
“Saab has sold more than a quarter of a million convertibles worldwide and this latest edition highlights the timeless design and responsible performance that Saab convertibles have always represented,” said Steve Shannon, executive director, marketing and product, Saab Automobile USA.
Continue to read: Saab unveils 9-3 2.0T Convertible Special Edition at the Los Angeles Auto Show
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