SAAB Abandoned By GM, Files Bankruptcy.

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http://www.goauto.com.au/mellor/mell...2576A50020B952

Billionaire Bernie on Saab trail

F1’s Ecclestone confirms he is looking at buying Saab with venture capitalist

8 January 2010

By RON HAMMERTON

FORMULA One supremo Bernie Ecclestone has emerged as a last-ditch bidder for Swedish car brand Saab in partnership with a Luxembourg-based capital investment company, Genii Capital.

Speaking with the Bloomberg news service, Mr Ecclestone, 79, confirmed he was putting a bid together with Genii for Saab, which faces imminent closure if owner General Motors can’t get a significant offer in the next few days.

GM has again postponed its final decision on the company until it can digest the Genii offer and a new proposal from Dutch niche sportscar-maker Spyker.

However, GM chairman and CEO Ed Whitacre said earlier this week that he was not confident that Saab could be saved, as no company with the necessary investment backing had stepped up to the plate.

The Genii Capital/Ecclestone bid is reported to be fronted by a Swedish group, using a business plan based on a previous bid by Swedish supercar-maker Koenigsegg.

That bid was withdrawn when Koenigsegg failed to get the necessary financial backing in time to pull it off.

There are also reports of another Swedish bid, headed by a former CEO of truck-maker Man AG.

Genii Capital said in a statement that it would “aggressively work towards a successful closing of the transaction with all the relevant stakeholders of the company”, Bloomberg reported.

About 3000 jobs at Saab are hanging on the decision by GM, along with hundreds of more in dealerships around the world.

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http://www.caradvice.com.au/52493/sa...idder-appears/

Saab, GM delay board meeting as new bidder appears

January 8, 2010 by Matt Brogan

Saab has postponed today’s board meeting as a new bidder makes a last-ditch effort to acquire the Swedish brand from General Motors.

Today’s meeting was called to discuss how the company can re-start production after a four-week break, assuming a buyer can be found.

New bidder Genii Capital, a private-equity firm that agreed to purchase a majority stake in Renault’s Formula One team last month, today joined the growing drama. Genii intends to hand in a cash offer some point today, according to an investor close to the process, while using the same business plan of former bidder Koenigsegg, a plan Genii says could make Saab profitable by 2012.

Opposing bidder Spyker Cars will also submit its business plan before today’s 5pm deadline. Below is a statement from Mr Victor Muller, CEO of Spyker Cars regarding the situation:

“We have continued a constructive dialogue with GM over the acquisition of Saab. We believe the Saab brand has lots of potential and would be keen to close a deal as quickly as possible.”

Saab board member Mr Haakan Danielsson has said that unless directly instructed to do otherwise, Saab plans to continue to produce cars to fill the orders it has on the books as of right now. A delegation from the Swedish government has also made their way to Detroit so that GM is fully aware of the willingness of the EU and Swedish government to offer certain assistance to keep the company running.

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http://www.caradvice.com.au/52678/ec...-to-save-saab/

Ecclestone part of three team bid to save Saab

January 11, 2010 by Tim Beissmann


Formula One boss Bernie Ecclestone has become the latest name linked to saving Saab after he joined the bid of Luxembourg-based investment group Genii Capital.

Ecclestone described the struggling Swedish manufacturer as “a good brand that has probably been neglected by its current owners”, and word from within the bid suggests Genii-Ecclestone will “aggressively work” to secure a majority stake in Saab.

The brains behind the bid, Swedish investor Lars Carlstrom, said they saw tremendous value in the Saab brand and, if successful, hoped to finance the takeover with loans from the European Investment Bank.

“What Genii and Ecclestone have found is that Saab is an amazing brand, comparable to brands such as Porsche and BMW.

“They love brands and they really value Saab’s brand. They are really supportive and will definitely be able to bring Saab to new heights,” Mr Carlstrom said.

Dutch carmaker Spyker – the frontrunner in sale discussions for months – remains in the hunt, as does a third bid team, headed by former Saab aerospace executive, Jan Nygren.

The former Swedish defence ministry official refused to do more than authenticate that he was part of a new group of Swedish investors vying for Saab.

“I can confirm that I am part of the group that has showed formal interest for saving Saab from winding down, but that’s about it,” Mr Nygren said.

Meanwhile, General Motors presses on with its wind-down of the brand, with CEO Ed Whitacre last week admitting he was “not confident” of securing a deal to save Saab.

GM has come under attack after naming restructuring firm AlixPartners to assist in the closure, with some – including IF Metall chairman, Stefan Lofven – believing it is irresponsible of GM to move in two different directions at the same time.

But GM has assured the bidders that the appointment of AlixPartners will not impede its attempts to find a suitor, confirming that employing supervisors in these situations is commonplace in Sweden.

The Swedish Government will meet with GM board members in Detroit early this week to discuss both possibilities – closure and sale.

Saab spokesman, Eric Geers, said the brand was encouraged by the three bids but admitted the final decision rested with GM.

“We all hope these bids are strong enough for General Motors to consider them,” Mr Geers said.

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http://www.caradvice.com.au/52981/sa...o-be-replaced/

Saab board, managing director to be replaced

January 13, 2010 by Tim Beissmann

Saab’s entire board, including its managing director, Jan Ake Jonsson, is set to be overhauled as General Motors progresses in its wind-down of the struggling Swedish manufacturer.

Jonsson – who has been a Saab employee for 37 years – was elevated to the top job in March 2005.

He and the board will remain at Saab, most likely to assist restructurers, AlixPartners, in closing the brand, a process that will drag out for months if GM does not name a suitor in the near future.

The official line from GM is it is still determined to sell Saab if the right offer comes along. But the men at the top seem to be singing a different tune.

Vice Chairman, Bob Lutz, is taking a glass-half-empty approach.

“The offers we’ve received so far in terms of risk and financing up-front have been just as good as winding it down.

“For years GM has been procrastinating when it comes to Saab. I’m glad to see that for once GM is sticking with a decision to wind something down,” he said.

Lutz’s comments follow the even more emphatic announcement from Chairman and CEO, Ed Whitacre, in Detroit on Monday when he simply said: “We’re closing down Saab”.

GM’s continued efforts to wind down Saab spurred most of the manufacturer’s 3000+ Swedish employees to strike for a half an hour yesterday outside the Trollhattan plant.

GM last week said it will ensure that “employees, dealers and suppliers are adequately protected” if no sale is made.

The Genii-Ecclestone bid, led by Swedish investor Lars Carlstrom, is this week expected to strengthen its offer, following a similar move by fellow bidder Spyker a few days ago.

“Genii hopes to improve its bid so that it becomes more attractive for GM.

“One has to sweeten it to be a part of the bidding, that’s the message we’ve received (from GM),” Mr Carlstrom told Reuters.

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http://theage.drive.com.au/motor-new...0114-m7c4.html

F1 boss revises Saab bid: negotiator
January 14, 2010

A group comprised of Formula One boss Bernie Ecclestone and Luxembourg investment firm Genii Capital submitted a revised bid for Swedish carmaker Saab to General Motors, the group's Swedish frontman said.

"We have made a new offer showing the financial strength of Genii-Ecclestone and our long-term financial commitment to Saab, which means that we are capable of supporting Saab for a long period of time and are committed to the automotive industry," Swedish businessman Lars Carlstroem told AFP.

"The offer was made an hour ago. We expect feedback from GM within this week and we expect the start of discussions with GM within a week also," he added.

He refused to disclose any details of the offer.

General Motors chief executive Ed Whitacre said earlier this week that his company wanted $US450 million ($A489.24 million) for Saab, which has barely turned a profit in two decades under GM ownership.

GM, which announced plans to wind down the iconic Swedish brand on December 18, last week put Saab into liquidation despite several last-ditch bids for the company.

The bidders include the small Dutch sports car maker Spyker, the Genii-Ecclestone group, and a Swedish group fronted by the former chief executive of German truck manufacturer MAN and a former politician.

On Monday, a source familiar with the talks said Spyker is "the only one" with an "attractive" offer.

GM has said that it is continuing the wind-down procedure for Saab and at the same time studying any offers that come in.

Spyker founder and chief executive Victor Muller said Tuesday his company has the money to buy Saab and said GM was considering its offer very seriously.

Saab, which employs 3,400 people in Sweden, is one of four storied brands being shed by GM as part of a massive restructuring effort that began in 2005 and accelerated last year when the largest US automaker went bankrupt.

Analysts have warned that some 8,000 jobs could be lost with Saab's closure.

AFP

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Holden to continue with Hummer, but not Saab

http://www.goauto.com.au/mellor/mell...2576AF00082C0A

GM Premium Brands set handle Hummer until new distributor appointed

18 January 2010

By JAMES STANFORD in Detroit

GM HOLDEN will wash its hands of Saab regardless of whether General Motors sells or kills off the struggling Swedish brand, but could continue the distribution of Hummers for up to 18 months.

While it will provide all warranty and parts support for Saab models for 10 years if the brand dies, Holden is not interested in continuing to distribute Saab cars in the event GM sells the brand.

"If Saab does get sold and continues on as a brand, we will not be the distributor," said GM Holden chairman and managing director Alan Batey.

"They will appoint an independent distributor."

In the case of Hummer, GM is close to finalising a deal to off-load the troubled SUV-maker to Chinese company Tengzhong Heavy Industrial Machinery which is not ready to set up a distribution network in the short term.

"With regards to Hummer, assuming that deal gets done, we have agreed to continue to supply for Hummer on an interim basis," Mr Batey said.

"That interim basis has not yet been defined but we are talking probably up to a maximum of an 18-month period where we would continue to act as the distributor but that would be on an interim basis until they set up arrangements, be it direct or through a distributor - that is yet to be defined.

"Longer term, GMH would not be involved in the premium brands of Hummer."

Mr Batey said Holden would not be required to offer similar assistance to Saab if it was sold.

"Assuming Saab was to find a buyer, my understanding is that Saab (under a proposed new owner) is pretty close to selecting a distributor, so they would be able to move a lot faster than in the Hummer situation."

There are now just four staff members left in the GM Premium Brands division at Holden's Port Melbourne headquarters, down from 18 two years ago when it was preparing to launch Cadillac - a program that was killed so late that the first batch of cars had arrived in the country and was sold off at a fire-sale price.

GM Premium Brands director Parveen Batish will not continue in his current role, said Mr Batey.

"He will probably not be there long-term and he will be relocating either into another part of Saab, if it continues, or possibly repatriation back to General Motors UK which is his home unit," he said.

Saab sold 663 cars in Australia in 2009, well down on 2628 of 1999. Holden stopped importing Saabs and Hummers in the middle of last year as it became clear they would be sold or wound up.

As for the Saab dealers, Mr Batey, agreed with a suggestion they were disappointed.

"They have been very patient," he said. "I think they are disappointed but they knew the writing was on the wall because they could see the sales results and where the company was."

The future of Saab remains unclear.

GM has reportedly started the process of winding up the company, but has also stated that it is still considering last-minute bids from a range of groups including Spyker and one led by Formula One supremo Bernie Ecclestone to find a way to sell Saab and keep its plants open.

A report claiming GM was set on winding down Saab and shift production of the next-generation 9-5 to China, where it would be produced as a Buick, which came out on the eve of the Detroit motor show was attacked by GM president of international operations, Tim Lee Lee, who said it was simply not true.

"There is absolutely nothing to that story. You can just sort of scratch that one out. I think someone has wrongly concluded that since we sold the IP (intellectual property) of the legacy (last generation) 9-3 and 9-5 (to a Chinese company) they automatically see that they would also do the new 9-5 in China," he said.

"If we sold the new 9-5 and the new 9-3 there wouldn't be anything left to sell to whoever is looking at the prospect today, so no, that is not the case."

In the week before the Detroit show, a core of about 30 Saab enthusiasts travelled from several surrounding states in a convoy to GM headquarters in Detroit to call for GM to sell the brand instead of simply winding it up. Similar gatherings, which larger turnouts, have occurred around the world.

GoAuto attended the Detroit gathering and spoke to Saab enthusiast and editor of SaabHistory.com, Ryan Emge, who was adamant customers would come back to Saab if it could be run by another company.

"A lot of people have been waiting for GM to sell Saab so they can buy Saabs again. We have been waiting since 1989 for this door to close and a new chapter to start," he said.

"They have companies that want to buy Saab. We won't give up until they dismantle a factory.”

Fellow Saab enthusiast Peter Gilbert from Milwaukee couldn't hide his concern that Saab could be about to die.

"This can't be happening. It is the only make of car that I have ever owned. I have been driving them since 1967," he said.

"I have had about five new ones and four old ones."

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Saab not saved – yet

http://www.goauto.com.au/mellor/mell...2576B700104030

GM continues to wind down Saab as 11th-hour talks with Spyker continue

26 January 2010

By MARTON PETTENDY

CONTRARY to renewed press speculation this week – and despite news that production of Saab’s new 9-4X crossover has commenced at a General Motors plant in Mexico – GM says it has not done a deal with Spyker Cars to sell its troubled Swedish brand, Saab.

Chairman and CEO Edward Whitacre said on January 25 that GM “had not changed direction” and would continue to wind down Saab’s operations, despite a new offer from the Dutch supercar-maker.

According to figures from Automotive News, Saab has produced 147 examples – including 49 last week – of the XC90-sized five-seat SUV, which is based on the same all-wheel-drive Theta platform as Cadillac’s SRX crossover, at GM’s Ramos Arizpe plant in Mexico.

The news comes before GM has officially confirmed the 9-4X would enter production, further fuelling speculation that US auto giant sees a future for the Scandinavian brand under a new owner.

Indeed, Mr Whitacre left open the possibility that Saab could be saved by Spyker after all, saying: “If and when that changes, we’ll let you know.”

On the same day, Spyker indicated talks with GM would be resolved soon.

“Spyker confirms that talks are ongoing, the outcome of which is still uncertain. As Saab is currently in liquidation talks must end soon,” it said.

Earlier this week Bloomberg News reported that Spyker had offered GM a combination of cash and preferred shares worth $US500 million ($A553m), a deal which it said satisfied GM in principle.

Later, Swedish TV station Sverige Television said Spyker was preparing to announce its purchase of Saab, following the Swedish government’s agreement to guarantee a €400 million ($A626m) loan from the European Investment Bank.

GM had also received a bid for Saab from Luxembourg investment company Genii Capital, backed by Formula One boss Bernie Ecclestone.

Meantime on January 26 – the same day GM officially removed the word ‘interim’ from his CEO title, Mr Whitacre said he would continue indefinitely in the role of CEO – a position to which he was appointed temporarily in December.

Speaking at a press conference at GM’s Detroit headquarters, Mr Whitacre, 68, said the GM board was committed to paying back in full loans from the US Treasury and the Canadian and Ontario governments by June.

“The board of directors asked if I would be willing to stay on at GM and help continue the company’s road back to success,” said Mr Whitacre, who was named chairman of the ‘New GM’ after Chapter 11 bankruptcy proceedings last June, but also took on the role of CEO after the resignation of Fritz Henderson.

“Having spent the past few months learning the business, meeting with our employees, customers, suppliers and dealers, and working with the GM leadership team, I was both honoured and pleased to accept this role. This is a great company with an even greater future and I want to be part of it.

“We’ve made significant progress in the past couple of months, so much so that I can confirm with certainty that we will pay back in full the US Treasury and Canadian and Ontario government loans by June.

“This represents a significant milestone in our journey back to being a profitable and viable company,” said Mr Whitacre, who retired from a 44-year career with US phone company AT&T in 2007.

As part of a management reshuffle overseen by Mr Whitacre, GM last week named former Microsoft chief financial officer Chris Liddell as its new CFO, and in December appointed former GM Holden chief Mark Reuss as president of GM North America – a position also previously held by Mr Henderson.

[R-Design]

Originally Posted by CarSales

Dutch boutique supercar brand Spyker has announced it will buy Saab - again

Netherlands-based boutique supercar brand (and one-time F1 protagonist) Spyker has announced it has agreed terms to purchase Swedish prestige marque Saab. The on-again off-again deal was thought to be dead and buried in December.

Under the complicated in-part Swedish Government guaranteed purchase, Saab will escape bankruptcy, and it assets (both in terms of 'hard' and intellectual property) will be rolled into the renamed, Saab Spyker Automobiles NV.

The stated aim of the new operation is to rebuild Saab into a viable standalone carmaker. The purchase includes Saab's wholly owned sales and distribution arm in the UK.

"In spite of media reports that certain parts have already been sold off, the object is Saab as a complete entity and going concern with all IP rights, trademarks, facilities and other infrastructures," Spyker's acquisition announcement stated.

"The sale of pre 2003 Saab 9-3 and current Saab 9-5 technology to BAIC in December 2009 did not result in any part of Saab's business being divested or devalued. On the contrary, Saab has already started the production of the new-generation Saab 9-5 in Trollhättan," Spyker stated last night.

Under the deal, Spyker has purchased the Saab business for US$74m. The price will be paid in two instalments and GM will retain an interest, though less than 1 per cent of Saab's voting stock. The Spyker deal is conditional upon a Euro 400 million loan agreement between Saab and the European Investment Bank, guaranteed by the Swedish Government. The Swedish Government has announced approval of this guarantee, which is also expected to receive prompt approval from the European Commission.

GM will be entitled to a share of the new Saab's future profits. Payments of any such dividends will be deferred until after 2013.

On the announcement of the deal, Victor Muller (pictured), Spyker's CEO and major shareholder stated: "We are very much looking forward to being part of the next chapter in Saab's illustrious history. Saab is an iconic brand that we are honoured to shepherd. We are delighted to have secured the jobs and livelihoods of thousands of loyal Saab employees, suppliers and dealers and to have given reassurance to the 1.5 million Saab drivers and enthusiasts around the world.

"It was breathtaking to see so much support from the global Saab community over the last months which not only shows the strength of the brand but also helped us in our relentless determination to get the deal done," Muller stated.

"Spyker Cars will provide Saab with the backing required to compete as a competitive global brand along with an entrepreneurial leadership team sensitive to the uniqueness, heritage and individuality of the Saab brand."

CEO of Saab CEO Jan Åke Jonsson said: "It has been a challenging 15 months for Saab but our global organisation has shown a fighting spirit that will serve us well going forward. The agreement with Spyker Cars has secured Saab's future and will enable us to maximise the brand's potential through an exciting new product line-up with a distinctly Saab character."

"Today's news is great for Saab's customers, dealers, suppliers and employees around the globe... Now we aim to get back to the execution of our business plan and with the continued support of our employees and business partners I am confident we will succeed."

http://www.carsales.com.au/news/2010...aab-sale-18093

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http://theage.drive.com.au/motor-new...ml?autostart=1

GM offloads Saab for $US400m
January 27, 2010

General Motors agreed to sell its Saab unit to sports-car maker Spyker Cars NV in a deal that would save the 72-year-old Swedish brand from extinction.

The transaction, subject to a 400 million-euro ($627 million) European Investment Bank loan for Saab to be guaranteed by Sweden, is expected to close in February and Saab will then end an orderly wind-down process, GM said in a statement today. Spyker agreed to pay $US74 million in cash and $US326 million in preferred shares in the company that would emerge from the deal, called Saab Spyker Automobiles, a person familiar with the matter said.

Saab is among four brands, along with Pontiac, Saturn and Hummer, that Detroit-based GM is unloading to focus on Chevrolet, Buick, GMC and Cadillac in the US after its bankruptcy exit on July 10. A sale of Saab may save many of the 3,500 jobs at Saab's main factory in Trollhaettan in southwestern Sweden.

"GM gave it a good shot,'' said Mike Tyndall, a European automotive analyst with Nomura Securities in London. ``The future of Saab is still very uncertain. Spyker saved them for now, but they still have to address the underlying problems of the business, which are lack of scale and lack of profit.''

Spyker shares were suspended in Amsterdam trading before the announcement. They last traded at 3.91 euros, valuing the company, led by Chief Executive Officer Victor Muller, at 84.8 million euros.

Genii, Merbanco

Swedish Industry Minister Maud Olofsson will brief reporters in Stockholm at 7:40 p.m. local time on Saab. John Smith, GM's vice president for global planning and alliances, will hold a conference call at 8 p.m. in Stockholm, or 2 p.m. in Detroit.

Swedish sports-car maker Koenigsegg Group AB, backed by Beijing Automotive Industry Holding Co., walked away from a deal to buy Saab in November. Beijing Auto later paid $US200 million to buy some car technology from Saab to use in its own vehicles.

Negotiations to sell Saab to Spyker collapsed last month, prompting GM to decide to shut down the money-losing brand. Muller has since revised his bid. GM would sell to Spyker only on the condition that Russian businessman Vladimir Antonov, the chairman and biggest investor in the Zeewolde, Netherlands-based sports-car maker, exit the company, a person familiar with the talks has said.

Russian exit

As part of today's agreement, Tenaci Capital BV, a company owned by Muller, will take over Antonov's 4.6 million Spyker shares when the deal is completed. Antonov, Martins Bondars and Naglis Stancikas will step down as supervisory board members, Spyker said.

Other bidders included Genii Capital, the private-equity firm that teamed up with Formula One tycoon Bernie Ecclestone; a group headed by former Swedish deputy Prime Minister Jan Nygren; and a Wyoming-based group led by Merbanco Inc. President Chris Johnston.

Saab's sales in the US slumped 59 percent to 8,680 vehicles last year. European deliveries also fell 59 percent, to 26,567 cars. The compact 9-3 sedan makes up a majority of Saab's sales. Saab has been retooling its plant in Trollhaettan to begin production of a 9-5 sedan this year, the company's first new model in seven years.

Saab, which traces its roots to aircraft company Svenska Aeroplan AB, was founded in 1937 to secure production of Swedish warplanes. The first car left the factory a decade later. GM bought half of Saab in 1990 and took full ownership in 2000.

Liquidation

Sergio Marchionne, CEO of Fiat SpA and Chrysler Group LLC, said today that Saab would face a tough future under Spyker's ownership.

"I like the Saab brand, but I think it's very difficult to be a niche player and profitable,'' Marchionne said at an event in Stockholm. "Marginal players will continue to be marginalized.''

The CEO said last year that he was interested in buying Saab while Turin, Italy-based Fiat was bidding for GM's Opel division. GM decided to keep Opel in November, backing out of a pact to sell it to a group led by Magna International Inc.

Saab CEO Jan-Aake Jonsson handed over power to liquidators on Jan. 12 and the board was disbanded. The Swedish Companies Registration Office has named GM nominees AlixPartners LLP Managing Director Stephen Taylor and Peter Toerngren of Swedish law firm Toerngren Magnell, to supervise the wind-down.

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GM offloads Saab

http://www.goauto.com.au/mellor/mell...2576B8000072D5

Saab sold to Spyker but GM retains part ownership

27 January 2010

By MARTON PETTENDY

GENERAL Motors has, as expected, sold its Swedish brand Saab to Dutch supercar maker Spyker.

As part of the deal, which GM says is subject to customary closing conditions, including receipt of applicable regulatory, governmental and court approvals, Spyker intends to form a new company, Saab Spyker Automobiles.

No financial details have been revealed as part of the transaction, which comes within 24 hours of GM announcing it would continue to wind down the troubled Scandinavian marque.

According to Autocar, the $US400 million ($A445m) deal will see Spyker give parent company GM $US74m ($A82m) for Saab, with $US50 million ($A56m) to be paid on completion of the deal and the remaining $24 million ($A27m) on June 15, 2010.

Spyker also confirmed it has extended a $150 million ($A167m) credit line, plus taken additional loans to fund the deal, in which Spyker must also negotiate the acquisition of all the outstanding shares in Saab Great Britain Limited, the UK distribution, marketing and sales company for Saab from General Motors UK Limited.

GM will retain $326 million ($A363m) of shares in Saab, entitling it to minimal voting power in the company but allowing it to share in potential future profits.

That news followed the withdrawal on Monday night of the only other bidder, investment company Genii Capital, backed by Formula One powerbroker Bernie Ecclestone.

It led to the suspension of trading in Spyker Cars shares by Dutch authorities after speculators drove up its share price.

GM, whose Mexican factory has commenced production of the Saab 9-4X, today confirmed the binding agreement between Spyker Cars NV and Saab Automobile AB.

“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.

“General Motors, Spyker Cars and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we're all happy for the positive outcome,” said Mr Smith.

GM said the Swedish government currently reviewing the transaction and the related request for guarantees of a 400 million Euro ($A626m) Saab Automobile loan that has been requested from the European Investment Bank.

It said the transaction is expected to close in mid-February, with GM’s previously announced wind down activities “immediately suspended, pending the close of the transaction”.

“Throughout the negotiations, GM has always had the hope to find a solution for Saab that would avoid a wind down of the brand,” said GM Europe president Nick Reilly.

“We’ve worked with many parties over the past year, including governments and investors, and I’m very pleased that we could come to such a good conclusion, one that preserves jobs in Sweden and elsewhere. GM will continue to support Saab and Spyker on their way forward.”

Spyker chief Victor Muller said: “We are very much looking forward to being part of the next chapter in Saab's history. The next task is for Saab to become profitable in its own right, and that's not an easy task. But it is one that I think can be achieved.”

It is believed the new Saab 9-5 and Saab 9-3 range will be built at Saab's Trollhättan HQ, which was extensively restructured to help make the company profitable with sales of less than 100,000 vehicles per annum, under Spyker control.

As part of the deal, Saab managing director Jan Ake Jonsson will return to his post immediately, while Spyker chairman, Russian banker Vladimir Antonov, has sold his shares to an equity firm owned by Spyker CEO Victor Muller – an arrangement demanded by GM, who feared its intellectual property could be fed into the Russian car industry.

Swedish supercar maker Koenigsegg had pulled out of a deal to buy Saab in November.

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http://www.caradvice.com.au/54719/sp...-to-save-saab/

Spyker deals with General Motors to save Saab

January 27, 2010 by Tim Beissmann

Exotic Dutch supercar manufacturer Spyker Cars N.V. has come to a last minute binding agreement with General Motors, saving Saab Automobile AB and securing its future as an independent company.

Spyker will pay GM US$74 million in cash and exchange US$326 million in preferred stock to acquire the Swedish brand, with Saab to exit its orderly wind-down process before the transaction is closed in February.

Spyker CEO, Victor R. Muller, said his company was looking forward to being part of the next chapter in Saab illustrious history.

“Saab is an iconic brand that we are honoured to shepherd. We are delighted to have secured the jobs and livelihoods of thousands of loyal Saab employees, suppliers and dealers and to have given reassurance to the 1.5 million Saab drivers and enthusiasts around the world.

“Spyker Cars will provide Saab with the backing required to compete as a competitive global brand along with an entrepreneurial leadership team sensitive to the uniqueness, heritage and individuality of the Saab brand,” Mr Muller said.

The Swedish Government is also providing significant backing for the deal, granting Saab a 400 million euro loan from the European Investment Bank which is set to be finalised in the coming weeks. Spyker has also secured 150 million euro in back-up financing from GEM Global Yield Fund Ltd.

Saab Automobile AB CEO, Jan Åke Jonsson, said the fighting spirit that his company has shown during the past 15 challenging months will serve it well going forward.

“Today’s news is great for Saab’s customers, dealers, suppliers and employees around the globe. The level of passion and support shown to Saab over recent months has been remarkable and I would like to take this opportunity to thank all of those people who continued to believe that Saab deserved a future.

“Now we aim to get back to the execution of our business plan and with the continued support of our employees and business partners I am confident we will succeed,” Mr Jonsson said.

The US$74 million purchase price will be paid to GM in two instalments. The first instalment of US$50 million will be paid on the date of completion of the transaction, expected to take place on or before February 15, 2010. The second instalment of US$24 million will be paid on July 15, 2010. Upon completion of the transaction GM will retain redeemable preference shares of US$326 million. The preference shares represent less than one percent of the voting rights in the capital of Saab.

GM Europe President, Nick Reilly, said he was pleased that a deal had finally been reached.

“As a responsible corporate citizen in Europe, and throughout the entire period, GM has always had the hope to find a positive solution for Saab that would avoid a wind-down of the brand. We have worked very hard with many parties, including governments and investors, and I’m very pleased that we could come to such a positive conclusion that preserves jobs in Sweden and elsewhere. GM will continue to support Saab and Spyker Cars on their way forward,” Mr Reilly said.

Spyker plans to convene a general meeting of shareholders as soon as practically possible to approve the transaction and to change the name of Spyker Cars N.V. to Saab Spyker Automobiles N.V.

In spite of media reports that certain parts have already been sold off, the object the deal is Saab as a complete entity with all IP rights, trademarks, facilities and other infrastructures. The sale of pre-2003 Saab 9-3 and current Saab 9-5 technology to China’s BAIC in December 2009 did not result in any part of Saab’s business being divested or devalued. Saab has already started the production of the new generation Saab 9-5 in Trollhättan, Sweden, where around 3400 people are employeed.

Saab sold 39,903 vehicles in 2009 and lost 400 million euro after selling 94,751 vehicles in 2008 and recording a similar 300 million euro loss. It has not turned a profit since 2001.

Saab has been making cars in Trollhättan since 1949 and the deal with Spyker now gives life to plans for a new 9-3 and the all-new 9-4 SUV.

[mrbaxr6t]

geeze glad to see they have sold it and will continue, maybe now the on again off again nature of things will stop in regards to a sale

[z80]

Originally Posted by snappy

I cant remember ever seeing a saab i liked the look of . Happy to be proven wrong

Here you go....my missus' 40th birthday present.

Looks good, goes well and an absolute bargain.

Nothing wrong with SAAB, just aweful GM management.

[nipper575]

I also don't mind Saabs, as long as they are the turbocharged models, the non-turbo ones are dreadful.

They were never "sports" cars but they do go well, and they provide excellent bang for your buck in comparison to other luxury branded cars such as BMW, Audi and Mercedes.

I think I can also recall that Saab was one of the earliest manufacturers to turbocharge passenger cars and basically was one of, if not the first manufacturer to do it successfully in large quantities.

I think it would be a shame for them to disappear.

[vztrt]

Originally Posted by z80

Here you go....my missus' 40th birthday present.

Looks good, goes well and an absolute bargain.

Nothing wrong with SAAB, just aweful GM management.

They haven't made a profit since 84.

[vztrt]

Saab future ‘fantastic’ in Australia

http://www.goauto.com.au/mellor/mell...2576B9001ADE48

Change in ownership, distribution will set a course for new growth in Australia

28 January 2010

By TERRY MARTIN

GM HOLDEN believes Saab dealers and customers have every reason to be optimistic about the future of the Swedish marque in Australia following its sale to Spyker Cars and its imminent change in distribution to an independent operator.

In an interview with GoAuto, Saab Australia director Parveen Batish refused to divulge the new distributor/s with which parent General Motors has been in discussions, preferring to wait until a formal announcement is made in the coming weeks.

He said once the final agreement between GM and Spyker was signed, and financing terms settled, details concerning the new distribution arrangements should come to light.

“It’s just too early to say exactly what impact it will have on the dealers in the short-term,” Mr Batish said.

“Obviously, we know what will happen in the long-term – with the new products coming through – but ... the deal still has to be ratified by various bodies and the European Investment Bank loan still has to come through.

“I can’t confirm anything in terms of timing because we still have to wait for the deal to be ratified before any agreements can be made with any potential importers.

“There obviously have been discussions going on for some time, and once agreements have been signed then we can obviously start to discuss who that will be and what impact and what timing will be involved.

“Discussions are ongoing and we are close to an appointment, but, again, nothing will be announced until agreements have been signed and deal has been done between GM and Spyker.”

Mr Batish said he was confident that the change in distribution would not adversely affect Saab’s operations in Australia, which have suffered in recent years as General Motors restricted the development of redesigned and new-segment models for the Swedish brand.

“The key things to say are that, first of all, Saab has a really good future in terms of products coming through,” he said.

“As far as our current customers are concerned, there is absolutely no need for them to worry about how warranty etc will be handled. So our current customers will be looked after into the future.

“What impact a potential importer will have, I can’t comment on ... All we know is that, currently, for everybody, this is fantastic news and a real opportunity to look forward to a great future with an iconic brand.

“This (latest turn of events) makes it, in some respects, even more iconic in terms of what it’s had to go through – the fact that it was so close to being wound down, and now has been saved.”

New product, in particular, will help the Saab cause and provide a basis from which the brand can rebuild. In Australia, its sales were down a painful 42.7 per cent last year for a 12-month total of just 663 cars sold.

Mr Batish pointed to the new-generation 9-5 sedan, the off-road-oriented 9-3X (based on the current 9-3 SportCombi) and the all-new 9-4X medium SUV as models that will make an immediate impact.

“Saab have got at least three new products coming in the very near future, which are just perfect for the Australian market – the 9-3X, the 9-5 and the 9-4X – and are products that Saab has needed for some time,” he said.

“With those products, Saab will become really competitive out there. And with the brand that it has, and with dealers and customers having confidence in the long-term future of Saab, I think it can get back to where it should be in the marketplace.”

Of the independent distributors currently operating in Australia, the three best positioned to take on Saab are considered to be Inchcape Australia, Ateco Automotive and Sime Darby.

GoAuto contacted representatives from all three companies this week but is still to receive official comment.

Inchcape is not believed to be interested, but as was the case with the prospect of taking on Chrysler distribution in Australia following its restructure under Fiat – a process that will now see a Fiat-run factory operation established here – Ateco and Sime Darby are certain to be watching events closely and promoting their abilities as capable of taking on a new franchise.

Regarding his own future with GM Holden, Mr Batish, who relocated from Saab in the UK to Australia in 2006, said he hoped to remain involved with the Swedish brand.

“My future, I’d like to think, is tied in with Saab in some shape or format. And when I find out, you guys will find out!”

[vztrt]

Saab saviour thanks 'Tassie Devil'

http://www.goauto.com.au/mellor/mell...2576B9001BF3C5

How a Hobart website helped to mobilise the ‘Save Saab’ global campaign

28 January 2010

By RON HAMMERTON

A GLOBAL grassroots ‘Save Saab’ campaign orchestrated via a Tasmanian-based Saab enthusiasts’ website has been praised as instrumental in General Motors’ decision to sell the Swedish car-maker to Dutch supercar builder Spyker Cars NV.

The campaign snowballed into multi-national campaign of demonstrations and protest convoys in more than 60 cities – from Detroit to Ningpo, China – as Saab owners trumpeted their support for the Trollhattan-based company in the face of plans by GM to shut it down.

Spyker CEO Victor Muller was so appreciative of the ground-swell of support as he battled to seal the deal with GM that the first person he called to announce the successful agreement was www.saabsunited.com publisher and Saab enthusiast Steven Wade at his home in Hobart yesterday at 5.09am eastern daylight time – just nine minutes after the historic paperwork was signed in Europe.

Mr Wade’s website, the world’s first English-language Saab fan blog which he has run for five years, became the global noticeboard for concerned Saab fans, including two Saab owners in Holland – members of the oldest Saab car club in the world, Saab Club Nederland – who proposed a ‘Dutch Saab Support Convoy’, initially hoping for about 250 cars to join in.

They emailed Mr Wade and asked him to mention the event on his website. An estimated 800 cars turned up – a group so big it was photographed from the air.

According to Mr Wade, the Dutch initiative inspired other enthusiasts, mainly through Saab car clubs, to organise similar convoys, communicating their plans through the internet.

“More and more clubs around the world picked up on it, and it snowballed,” he said.

Mr Wade, a 39-year-old auditor and family man who has owned “seven or eight” Saabs, including his current Saab 9-3 Monte Carlo and Saab 9000, said the initiative started as a gesture of support for Saab.

“When this was getting organised, it was expected that a decision would be made on Saab’s future by the time these (convoys) happened,” he said.

“So this was a gesture of support, because the company’s future was still in doubt.”

A group of Saab owners in the US quickly organised a protest outside the recent Detroit motor show just two days before the GM board was scheduled to meet, gaining worldwide publicity for the cause and placing pressure on GM to sell the company rather that proceed with its liquidation.

Mr Wade said the Detroit demonstration alerted the Saab legion to what could be achieved by the convoys, most of which were held on January 17 in about 40 locations around the world.

“It (the Detroit event) was only a small gathering (28 cars), but it showed the potential of what could be done with these gatherings. After that one, it really crystalised the ideas in people’s minds,” he said.

Mr Wade – dubbed the ‘Tasmanian Devil’ by an admiring reader of Britain’s Autocar after a column about the campaign by Hilton Holloway – said he had been following the Saab sale saga closely for about a year, after GM announced that it was going to sell it off.

He said that over the past three weeks, he had been in regular phone communication with Spyker CEO Mr Muller who apparently recognised the support for the Swedish brand focused through Mr Wade’s website.

“A lot of those phone calls were less than a minute long, but I was in contact one or twice a day for three weeks while this was getting done,” he said.

“A lot were to say ‘we are still working, we are still working’. I would talk with him at eight in the morning – he has only gone to bed at four in the morning. That’s very long days to get this done.”

Mr Wade said he believed the triumphant phone call from the much-relieved Mr Muller on Wednesday morning was “just an indication of how much he appreciated the support of the community as a whole”.

“I think it provided a lot of motivation for them,” he said. “It has been something that has been reflective of the feelings the city of Trollhattan itself.

“There has been a lot of solidarity (from Saab enthusiasts) after a little bit of ‘us versus them’. I think it would have provided an uplifting few moments, for sure.

“But make no mistake, the real hard work was done by Victor Muller, Jan Åke Jonsson (Saab CEO), and by the Koenigsegg group last year.”

Mr Wade said the international nature of the Save Saab campaign had cost him plenty of sleep over the past few months as he kept abreast of the issues happening in Europe and the US, updated his website and communicated with Saab enthusiasts wanting to publicise their efforts to save the Saab brand from oblivion.

“Since December, it has been four or five hours sleep a night, so it is nice to have a result,” he said.

Mr Wade said he had been impressed with Mr Muller’s tenacity in the sale process – a quality mentioned by newly reappointed Saab CEO Mr Jonsson at this week’s sale celebrations in Sweden, according to Mr Wade who watched via the internet from his home.

“One of the things that Jan Åke Jonsson said was that when he first met Victor one of the things he said was ‘we will not give up on this – we will do absolutely everything we can’,” Mr Wade said. “That’s really how it was.”

[Bossxr8]

Whats really amazing is that GM bought SAAB, spent next to nothing on its products and basically let them wither and die, and then probably wondered why they could never make money. No wonder they are in such deep financial trouble with those geniuses running the company.

Why did they even bother buying it in the first place.

[vztrt]

Spyker commits to new Saab 9-3 by 2012

http://www.goauto.com.au/mellor/mell...2576BE008231D9

New Saab owner spells out model plans, including a possible baby 9-1

3 February 2010

By RON HAMMERTON

NEW Saab owner Spyker Cars has confirmed that it will develop a new-generation Saab 9-3 for launch in 2012, as well as investigate the potential for a fourth, small car line, dubbed the 9-1.

Spelling out its strategic plan in advance of February 12’s extraordinary general meeting called to secure shareholder approval for its takeover of the troubled Swedish car-maker, Spyker divulged its model aspirations and direction for the next several years under a newly created company, Saab Spyker Automobiles NV.

It said the Saab operation would be established as a stand-alone niche manufacturer, with three-to-four model lines: 9-3 (sedan, hatchback, sports estate, X and convertible), the new 9-5 (sedan, sports estate and X) and the new Mexican-made 9-4X crossover.

“In addition, Saab will investigate the potential of adding a fourth smaller car line (9-1) in due course, provided that the positive development of the smaller car segment continues,” it said in a statement released in the Netherlands.

“However, this model is currently not envisaged in the business plan, so if the outcome of the investigation is positive, additional financing to develop this model could be required.

“Saab’s product portfolio will be renewed completely, beginning with the launch of the new 9-5 early this (European) summer, the new 9-4X in early 2011 and the new 'all Saab' 9-3 in 2012.”

The current, second-generation Saab 9-3 – launched in 2002 – was based on GM’s Epsilon mid-sized platform that also spawned the Opel/Vauxhall Vectra.

The Spyker statement did not indicate if Saab would go it alone with a modification of the current architecture or an all-new platform.

Spyker’s statement said that while collaboration on parts and technology with previous owner General Motors would continue to aid economies of scale, Saab would gradually wean itself away from GM, which nevertheless remains a major shareholder in the company.

It said it planned to “reduce GM dependency and obtain improved access to other suppliers and the co-development of unique innovations”.

Spyker promised to revive the aspirational image of Saab, saying it would target premium competitors such as Audi and BMW – in particular the Audi A4 and A6 and BMW 3 and 5 Series – with its new-generation cars while pitching itself as an “independent, performance-orientated niche car company with an industry-leading environmental strategy”.

It indicated that its new models would be developed in-house, saying: “Saab’s technical development centre in Trollhättan has full capability in developing complete vehicles and will continue to do so.

“In areas such as safety, environment, driving characteristics, practicality, turbo technologies and several other innovations, the Saab brand is among the best in the industry.”

It said it wanted to build its sales back to “pre-crisis levels” of between 100,000 and 125,000 vehicles a year, including the 9-4X built at GM’s plant alongside the similarly-based Cadillac SRX.

Spyker also spelled out its $1US billion ($A1.12b) finance arrangements, saying this would be provided through three sources – $US326 million ($A367b) in redeemable preference shares to be issued by Saab to GM; a $556 million ($A627m) European Investment Bank (EIB) loan (securing this loan is a condition of the acquisition of Saab); and $200 million ($A225m) in cash held in Saab’s bank account.

“With this financing in place, the business plan does not envisage any future funding being required, neither from Spyker or elsewhere, for Saab to return to profitability,” Spyker’s statement said.

“The business plan targets car production and sales at or below historical levels of 100,000 to 125,000.”

Spyker said the new business plan had been drawn up by Saab management over the past 10 months, and had been scrutinised by its advisers, as well as the Swedish government and the EIB.

[vztrt]

http://www.caradvice.com.au/56251/sa...ent-bank-loan/

Saab secures European Investment Bank loan

February 9, 2010 by Tim Beissmann

Moves to save Saab have taken another step forward overnight with the European Commission approving a 400 million euro (AUD$633 million) loan from the European Investment Bank to help establish Saab Spyker Automobiles N.V.

European Union competition commissioner, Neelie Kroes, said the loan to Saab will not cause “any undue distortions of competition” and complied with the aid rules it set out.

The original deal signed with General Motors on January 26 required Dutch supercar maker Spyker to part with US$74 million and US$326 million in preferred shares. US$50 million was to be paid by February 15, with the remaining US$24 million due on July 15.

Spyker initially paid US$25 million to GM at the signing of the deal. Today it announced it is entering a loan agreement with Heerema Holding Company to secure the other US$25 million, and remains confident of finding the remaining US$24 million to finalise the deal.

Spyker last week revealed its ambitions to return Saab to profitability by 2012 and expand the range to four vehicles in the future, including the 9-4X crossover and a 9-1 small car.

[vztrt]

http://www.autoblog.com/2010/03/06/r...ris-back-on-t/

Report: Saab deal helps put Spyker D12 Peking-to-Paris back on track

by Jeremy Korzeniewski - Mar 6th 2010 at 12:17PM

We're all well aware that the recently sealed deal between Spyker and General Motors means good things for the ailing Saab brand – in fact, without Spyker's eleventh-hour intervention, the Swedish automaker would have been lost to the annals of history. Apparently, though, the Saab tie-up means good things for Spyker, too.

Believe it or not, it was four years ago that Spyker first showed off its Peking-to-Paris luxury SUV at the Geneva Motor Show, and now company head Victor Muller has reportedly announced that the monster 'ute is back on track. Not surprisingly, the finalized handshake with The General is partly to thank for the reinvigorated D12 program.

Consider the years of technical expertise that Spyker gained when it brought Saab on board, not to mention the additional production capability and manpower. It remains to be seen what powertrain Spyker will choose for its hulking SUV, but previous rumors had a supercharged mill from Cadillac underhood. We shall see.


[Source: Autocar]

[nipper575]

I'm really happy that it appears that Saab and Spyker will both benefit from this. It's always a shame when a decent car company goes under.

[cool65]

[QUOTE=z80]Here you go....my missus' 40th birthday present.

Looks good, goes well and an absolute bargain.




I thought along those lines, till average finish, average performance and HUGE resale devaluation made me think I should have just walked behind it ripping up $100 bills -
close to 80% in 4 years

[Bossxr8]

[QUOTE=cool65]

Originally Posted by z80

HUGE resale devaluation made me think I should have just walked behind it ripping up $100 bills -
close to 80% in 4 years

Ouch.

[vztrt]

http://www.caradvice.com.au/60188/sp...ls-on-the-way/

Spyker CEO says Saab a bargain, new models on the way

March 9, 2010 by Matt Brogan

Spyker CEO, Mr Victor Muller, says his company’s acquisition of Saab last month was nothing less than a bargain at US$400 million (AUD$440 million).

Mr Muller said the tiny Dutch luxury-car manufacturer acquired Saab and its full range of upcoming products from General Motors for “the cost of a wind tunnel”.

The first of the new models expected from Saab will be a redesigned 9-5 sedan (pictured above), due to be launched by the middle of this year. The Saab 9-4X SUV will follow in 2011, with the smaller 9-3 sedan to follow in 2012.

Were these products not already near completion and their development largely paid for, Spyker would have needed to invest a further 1 billion Euros (AUD$1.5 billion) to develop them.

“This has all been given to us as a nice package, saying, ‘Good luck with it,’” said Mr Muller.

Last year, Saab’s global sales were down 58 per cent to a total of 39,903 units. The Swedish manufacturer built only 20,791 cars last year with the balance sold existing 2008 stock. But Saab’s Managing Director, Mr Jan Ake Jonsson, said output under Spyker will increase, estimating between 50,000 and 60,000 units will be produced this year, and up to 120,000 units per year by the end of 2012. Mr Jonsson also predicted Saab will return to profit in 2012.

Saab’s suspended production is due to resume by the end of the month, which will hopefully top up low inventories around the globe.

Marketing and public relations will also be a heavy focus as the brand struggles to help dealers spread the word that Saab is back. Internet advertising and local dealer events will be key to Saab’s revival.

“If you look at the size of the company and our marketing muscle, we cannot afford to do mass marketing,” said Mr Jonsson.

“We cannot do full-page ads in The Wall Street Journal. But that’s not where our customers are.”

Mr Jonsson also said he hopes Saab will be able to reclaim buyers who defected to other brands.

“We have many customers who went to another brand (because the 9-5 was so old),” Mr Jonsson said.

“Customers also went to crossovers because the product offering was not available. Now it’s a different story.”

Once re-established, Mr Jonsson said Saab also plans to build a smaller car to compete against the Audi A3 and BMW 1 Series (possibly named the Saab 9-1). Hybrid vehicles also are in the short to medium-term plan.

[vztrt]

http://www.autoblog.com/2010/03/22/s...first-next-ge/

Saab officially resumes production, new 9-5 built first, next-gen SportCombi confirmed?

by Steven J. Ewing (RSS feed) on Mar 22nd 2010 at 6:26PM

t's a good day in Trollhättan. After the many ups and downs of the Spyker/Saab sale, production has finally resumed at the automaker's plant in Sweden. To commemorate the occasion, a number of high-ranking officials took positions along the assembly line, including Saab Automobile CEO Jan Åke Jonsson, Spyker Cars CEO Victor Muller and Trollhättan Plant Director Gunnar Brunius. The all-new Saab 9-5 was the first vehicle down the line – a good thing, since that hot new sedan is set to go on sale in the very near future and will make its way to the U.S. in the second quarter of this year.

What's more, a key phrase buried in Saab's press release gives us another glimmer of hope – plans seem to be in order for the automaker to produce a SportCombi version of the new 9-5, which we've already seen testing.

"With the introduction of the new 9-5 SportCombi next year, a total of five model lines will be produced at the plant."

Sounds promising, and we'll be sure to update you with more details once we get the official word. In the meantime, click through the gallery below to see shots of the first 9-5 rolling off the line, and hit the jump to read Saab's press release.

[vztrt]

http://www.caradvice.com.au/61937/sa...ew-management/

Saab resumes production under new management

March 23, 2010 by Matt Brogan

Saab resumed production at its Trollhattan, Sweden plant yesterday – a month after Dutch firm Spyker Cars took over as owner from General Motors.

Spyker CEO Victor Muller and Saab CEO Jan Ake Jonsson were present at the re-opening of the plant where an estimated 100 Saab 9-5 models will be produced daily.

The bonnet of the first vehicle to roll off the assembly line, a silver 9-5, wore a decal reading “Saab 001 of a new era”.

“Today’s resumption of production is a milestone in the history of our company” said Jan Ake Jonsson, CEO of Saab.

“We are up and running as an independent manufacturer and I am delighted to share the experience on the line alongside our workforce.

“They have shown tremendous commitment to the company and we are all now focused on ramping up production to meet customer demand.”

Saab sold fewer than 40,000 vehicles last year but aims to make up to 60,000 by the end of 2010, and plans to double that figure by the end of 2011.

Following the re-opening, Muller and Jonsson departed Sweden to visit Saab retailers in other countries to spread the message that Saab is back.

Saab has some 3,400 employees in Sweden, most of whom are based at the Trollhattan plant.

[vztrt]

http://theage.drive.com.au/motor-new...0323-qrpm.html

Production restarts at Saab factory
March 23, 2010

Swedish carmaker Saab restarted production at its plant in southwestern Sweden on Monday, a month after General Motors sold the brand to Dutch sportscar maker Spyker, a company spokesman told AFP.

"We're producing 100 cars a day but we intend to have a higher objective, but that is a start goal," Peter Backstroem said from Saab's plant in Trollheattan, which employs about 3,400 people.

"All the assembly line employees have returned to work."

Production had been suspended since the end of January on orders from General Motors (GM), which started to wind-down its loss-making Swedish brand in December after failing to find a suitable buyer.

But a last-minute deal was clinched on January 26 between GM and Spyker, a minnow in the car industry, rescuing the Swedish brand from closure.

Production consists mostly of the Saab 9-3 model, and of a few cars of the 9-5 model, a new higher-range model the carmaker is currently launching, Backstroem said.

Spyker said it hoped to produce 50,000 to 60,000 cars this year, but production of 100 vehicles per day would yield only 36,500 cars.

The new owner hopes Saab will eventually return to its former production volume of between 100,000 and 125,000 vehicles per year and be profitable by 2012.

During the 20 years it was owned by GM, Saab never turned a profit.

Last year, the Trollheattan plant rolled out 38,756 vehicles, against around 93,000 in 2008, according to company figures.

AFP

[vztrt]

Saab goes back to work

http://www.goauto.com.au/mellor/mell...2576EF00810EF2

First cars manufactured by Saab as an independent company one month after GM sale

24 March 2010

By MARTON PETTENDY

SAAB reopened its Swedish factory doors yesterday for the first time since former owner General Motors ordered them shut more than a month ago.

Perhaps fittingly, the first car off the line when production resumed this week at Saab’s largest – and now only – car plant at Trollhattan was a prototype version of the 9-5, the historic Scandinavian brand’s first all-new flagship in about a dozen years.

The new 9-5 will go on sale later this year globally, including in Australia, where a new distributor is yet to be named to replace GM Holden, following GM’s last-minute sale of Saab to Dutch sportscar maker Spyker on February 23.

GM began winding down its loss-making premium brand in December after failing to find a suitable buyer, but Trollhattan’s 3400 workers will soon deliver the first Saab produced under independent ownership after a seven-week total shutdown.

“Everyone at Saab has worked extremely hard to reach this important point,” said CEO of Spyker Cars NV, Victor Muller, at a factory-floor ceremony to mark the occasion on Monday. “Today production restarted with a new 9-5 first down the line – a fitting symbol that a new era has begun.”

Apart from the mid-size 9-3 range launched here in November 2002, including the 9-3 Convertible that is now also being produced at Trollhattan as part of the concentration of Saab’s operations in Sweden, the former aeroplane company has also committed to manufacturing the 9-5 sedan and ‘Sport Wagon” at Trollhattan, bringing the number of model lines produced there to five.

“Today’s resumption of production is a milestone in the history of our company,” said Saab Automobile AB CEO Jan Åke Jonsson.

“We are up and running as an independent manufacturer and I am delighted to share the experience on the line alongside our workforce. They have shown tremendous commitment to the company and we are all now focused on ramping up production to meet customer demand.”

Saab spokesman Peter Backstroem told the AFP news agency the Trollhattan factory would initially produce only about 100 cars a day, which would amount to slightly less than the number of vehicles it built in 2009 (38,756) and much less than the 93,000-odd made in 2008.

However, Spyker has said it hopes to produce 50,000 to 60,000 cars this year, and expects Saab to return to profitability – and its former production volumes of at least 100,000 vehicles a year – by 2012.

To do so, Saab says it will launch three new models in the next 16 months, including this year’s new 9-5, which Saab presented at this month’s Geneva motor show just a week after splitting with GM, plus next year’s 9-5 SportWagon and Mexican-built 9-4X, based on GM’s Cadillac SRX crossover.

As we’ve reported, Saab has also committed to replacing the current 9-3 with an “all-Saab” model in 2012 and is investigating a fourth model line it now refers to not as the 9-1 but the 92, in reference to the 1950s aero-style model with the same name, which could emerge by 2013 in an Opel Corsa platform sharing deal with GM.

“We have a highly flexible, world-class facility here at Trollhättan,” said plant director Gunnar Brunius. “Our ability to build so many different models in one location improves plant utilisation and will deliver valuable efficiency gains. With these state-of-the-art facilities and a dedicated workforce, we are in excellent shape.”

[vztrt]

Saab 9-5 still on ice

http://www.goauto.com.au/mellor/mell...2576F2000D8C44

Buyers can order new 9-5 in Europe, but Saab remains in limbo Down Under

26 March 2010

By MARTON PETTENDY

SAAB has opened the order books for its redesigned 9-5 in Europe, but the Australian future of the newly independent Swedish brand and its first new flagship sedan in more than 12 years remains in limbo.

Although full details of the production 9-5 line-up were revealed when it debuted at the Frankfurt motor show last September, the protracted sale of the historic Scandinavian maker by General Motors to Spyker has prevented the new 9-5 from entering production at Trollhattan until this week.

The 9-5 range will hit European Saab showrooms in June, but its local fate remains uncertain until the new owners of Saab Automobile AB appoint an Australian distributor to replace Holden’s GM Premium Brands division.

GMPB discontinued the previous 9-5 in Australia last October, when 27 versions of Saab’s only other local model – the 9-3 – were also eliminated, reducing the number of 9-3 variants available here to 34.

Australian Saab dealers have sold just one 9-3 sedan so far this year, with sales down by almost 43 per cent in 2009 to only 663 examples, including 50 version of the 9-5.

Saab this week recommenced production of the 9-3 sedan and convertible, and the vehicle pipeline between Sweden and Australia has remained empty since the GM-Spyker deal was closed on February 23.

That is unlikely to change in the next few months, as Saab Automobile concentrates on re-establishing its brands in key global markets led by North America and Europe.

But while no potential Australian importer will confirm it is in discussions with Saab, Ateco Automotive has emerged as the front-running contender to distribute Saab cars here, including the 9-5, existing 9-3 and, possibly, the 9-3 SportCombi-based 9-3X and Cadillac SRX-based 9-4X crossover built in Mexico.

Saab has committed to replacing the current 9-3, which is based on GM’s Epsilon platform, with an all-new model by 2012 – the same year it expects to return to profit – and has said it hopes to develop an all-new “92” small-car, which could emerge on GM Opel’s Corsa around 2013, for which it will need to access more funding.

Saab dealer sources have confirmed to GoAuto that “a large Sydney-based distributor” is likely to take on Saab locally, and Ateco is easily the best fit as it already has a ready-made national retail network of Citroen and Alfa Romeo outlets.

The fact the majority of them already co-exist in most metropolitan and large regional centres makes the addition of a third competing premium European less of a problem, and industry sources suggest Ateco – which is also the Australian and New Zealand distributor of Ferrari, Maserati, Great Wall and, perhaps, BYD vehicles – is likely to retain many of Saab’s current Australian dealerships.

“When a new wholesaler is appointed all contracts pre-existing become null and void and must be renegotiated,” one industry insider told GoAuto.

“That said, most of the remaining Australian Saab dealers are hard-core supporters of the brand with a solid customer base, so any new distributor would think twice about losing any existing Saab dealers.”

Sydney’s two other large automotive importers – Sime Darby and Inchcape – are less likely to take over Saab distribution here.

Inchcape has previously distributed Ferrari, Maserati, Volkswagen, Audi, Peugeot, Jaguar and Proton vehicles in Australia, but now imports only Subaru.

Adding another brand would go against the London-based multinational’s global shift towards retail sales and away from wholesale distribution, which it sees as increasingly falling under the control of car-makers. Inchcape owns a number of vehicle retailers in Australia, including Subaru, Volkswagen, Hyundai, Mitsubishi and Kia dealers.

Sime Darby, meantime, is the Australian distributor for Peugeot and SsangYong, which remains under bankruptcy protection but has embarked on a court-approved restructuring plan and hopes to relaunch the Korean brand Down Under with its all-new C200 compact vehicle in the third quarter of this year.

Industry sources say the addition of Saab to Sime Darby’s already busy schedule, which would require a significant company restructure, is unlikely.

While that leaves Ateco as the most likely – and indeed only remaining – contender for Saab here, we understand the deal could still be up to six months away as Saab and its retail partners gauge the success of the new 9-5 in Europe.

“Australian sales volume will have no bearing on the success or failure of Saab as a global player and any distributor will be held to account for (potentially lucrative) Saab servicing, parts and warranty liabilities for 10 years,” said a source.

In the meantime, GM Holden says the Saab dealer network in Australia remains unchanged.

“Saab still intends to operate in Australia and New Zealand and is looking for a new distributor,” said Holden external communications director Emily Perry.

“However, in the meantime, Holden is helping to facilitate this process to support the dealers and Saab customers manage the transition.

“The ongoing commitment from the dealers and our customers show the strength of Saab brand and the new products on the way.”

As we’ve reported, the 2010 9-5 range will initially comprise just two trim levels in Europe – Vector SE and Aero – while six engines will be on offer.

They include 1.6 and 2.0-litre turbocharged four-cylinder petrol engines (the latter available in E85 ‘BioPower’ guise), plus four-cylinder 2.0-litre turbo-diesel and twin-turbo diesel engines.

At the top of the 9-5 range is Holden’s 220kW 2.8-litre turbo V6, which powers the current 9-3 Aero XWD sedan and SportCombi, but joins the 9-5 range for the first time – with the same torque-vectoring all-wheel drive system as standard. The 9-5 SportCombi is due to appear in the first half of 2011.

For the record, the new 9-5 is now available to order in the UK, with prices opening as £26,495 ($A43,373) for the 2.0TiD Vector SE diesel, and rising to £28,195 ($A46,156) for the 2.0T, £31,195 ($A51,077) for the Aero 2.0T and £37,995 ($A62,210) for the Aero 2.8T XWD.