You are browsing the archive for 2009 December.

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by Swade

Monday Night Snippets – updated news edition

December 21, 2009 in News

I deliberately left the Ed Whitacre email post up all day today as it’s probably the most important thing we can all do right now – let them know.
That post (or a fresh version of it) will be back up at the top of the site shortly.
In the meantime, here’s some of the news that came out today.
——
Spyker’s bid included amendments to all of the eleven sticking points that caused distress last week.
One of those sticking points has been speculated to be the owners of the Convers Group, and Swedish news agency SvD are reporting that the new bid includes a new ownership structure that doesn’t include the Convers Group. I’ve heard whispers and squeaks about the same thing and it rings true to me.
There’s nothing about this in the press release, but this is to be expected given that Convers have other business with Spyker and writing about it means having to answer embarassing questions as to why.
The bottom line: Spyker’s bid to acquire Saab – given that it includes an altered ownership structure and foregoing the EIB loan – shows a great deal of commitment to the brand and a determination that we never knew about before.
——
It’s noted from CJ’s appearance in comments, too, that Merbanco are back in the bidding for Saab and have joined up with the Swedish consortium that I wrote about a few weeks ago.
Again, the commitment to the cause is inspirational.
The Swedish group do not wish to be identified unless they are successful in the bidding. I have a name for the consortium but not of individual members, so can’t comment one way or the other on them. They are said to be solid corporate figures, however, with automotive experience.
——
In case you haven’t seen it yet, I was asked to write an Op-Ed piece on Saab, which has been published in the last 24 hours at CNN.com.
I was pretty happy with it and I hope it gets the word out a little bit more. It was not written from a political or campaign point of view. My brief was to write almost a remembrance of Saab, but of course the situation has changed nearly every day so the piece still has a current tone to it.
I hope you enjoy.
——
I also took a call from the BBC today and did a brief interview for World Today on BBC World.
I believe the clip should be part of the 21 December program, which you can access here.
——
Family holidays, Saab crisis style.
A game of Risk with laptop on the side.
Hols.jpg
It’s D-Day for the Spyker group, people. The time is now.

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by Swade

Ask GM to sell Saab, rather than kill it.

December 20, 2009 in News

Off-topic update: Saabs United on CNN
Off-topic update 2: Just did an interview with BBC world. It should be online in a few hours.
If you haven’t emailed Ed Whitacre yet as per the request below, please do consider it. Also, please send the request to your Saab Club, forum, dealership, postman, etc.

UPDATE 3: This came in this morning from Djup Strupe:

Another undisclosed group submitted a proposal days ago, together with management, to acquire Saab. This group completed its due diligence review months ago, was a finalist when Koenigsegg was selected and is in regular contact with the government. They have joined together with a Swedish consortium and have offered to move quickly to close.

As has been confirmed in comments, the above Djup Strupe information involves Merbanco coming together with the Swedish consortium I wrote about a few weeks ago.

CJ replied to comment from 74stingray | December 21, 2009 10:08 AM | Reply
If the mix is what you hope for us, then in the mix we shall be! We also like our new dual Swedish partners. Stronger every day!
Cowboy Up!

GM are receiving multiple offers for Saab.
This campaign below is to make sure they consider ALL offers seriously.
——
EMAIL APPEAL TO ED WHITACRE AT GENERAL MOTORS
Today is a very important day in the life of Saab. I know that it feels like Saab have been on their last breath for some time now, but there is hope remaining for our favourite car company.
Whilst General Motors stated that they would commence an orderly wind-down of Saab Automobile in January 2010, they also stated that a suitable offer from a suitable buyer would be looked at.
They have received just such an offer today.
General Motors have received a new offer from Spyker for the sale of Saab Automobile. Spyker have structured their new offer in such a way so as to remove all of the the complexities that made their initial offer difficult to close.
In short, if General Motors are serious about selling Saab, this is their time to act.
——
How you can play a part:
We have one chance only to put across our point of view as Saab owners and enthusiasts. Saab have a business plan, new vehicles and an efficient factory to produce them. They have a passionate base of supporters and the right cars to win new customers to the brand.
The time is now.
The email address for Ed Whitacre, the Chairman and CEO of GM is

eewjr@gm.com

If you care about the future of Saab then I invite you to write a brief, polite and passionate message to Mr Whitacre, outlining why you think Saab should be sold, rather than closed.
I can’t emphasise this enough: make your message passionate, but polite. A passionate message that clearly states a point of view will be read and considered. An angry message will only find its way into the trash.
——
My message:

Mr Whitacre,
I am writing to you as a Saab enthusiast and customer in the hope that you will give full consideration to new offers received this weekend for the sale of Saab Automobile.
Saab have new vehicles on the verge of being released, they have an excellent management team, an award-winning efficient factory and they have a passionate worldwide following that want to see them continue as a viable company.
Saab have always made engaging, safe, practical, utilitarian vehicles that customers connect with like few others on the road. I submit to you that if a viable offer has been received by GM that can allow Saab to continue to do this, then that offer should be considered very seriously.
I thank you for your time and consideration of this matter.
Steven Wade
www.saabsunited.com

Once again, the time is now.

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by Swade

SPYKER CARS RENEWS OFFER FOR SAAB THAT REMOVES LAST HURDLES

December 20, 2009 in News

ZEEWOLDE, The Netherlands (20 December, 2009) – Following the announcement on
Friday that the intended sales terms of Saab Automobile AB between Spyker and General
Motors (GM) could not be finalized, the Spyker leadership has submitted a renewed offer
in the hopes of securing a future for Saab, its employees and the brand – despite the
announcement that the winding down of Saab would begin.
Spyker CEO Victor R. Muller said today that an 11-point proposal had been submitted to GM, addressing each of the issues that arose during the due diligence process and that the renewed offer would remove each of the obstacles that were standing in the way of a swift transaction.
“We have made every effort to resolve the issues that were preventing the conclusion of this matter and we have asked GM and all other involved parties to seriously consider this offer,” said Muller.
“We are very confident that our renewed offer will remove the impasse that was standing in the way of an agreement on Friday, and this would still allow us to conclude the deal prior to the expiry of the deadline originally set by GM of December 31st”, said Muller.
“Despite our collective eleventh hour set-back, we are returning to the table with a renewed offer, that addresses every known issue brought to light during the initial negotiations and that has the full backing of the Saab Management. The new offer eliminates the need for an EIB loan approval prior to year end, for example, which will allow the deal to be concluded within GM’s deadline.
Our efforts are based on our passion for saving an iconic brand that we would be honoured to shepherd, and the jobs and livelihoods of thousands of loyal Saab employees, suppliers and dealers around the world. Some 1,500,000 Saabs are on the road today and their proud owners would no doubt welcome the survival of this phenomenal brand”, he added.
In Spyker’s view, the ownership of Saab by Spyker Cars would add a lot of value to both parties. For Spyker, Saab would bring a strong, global distribution network consisting of no less than 1100 dealers, state-of-the-art production facilities, a truly dedicated work force and solid engineering, sourcing and research & development capabilities. Likewise, Saab would receive the financial 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. Throughout these negotiations, both Spyker and Saab leadership have proven that they share a mutual vision for just such a partnership.
“Our company motto is nulla tenaci invia est via – for the tenacious no road is impassable,” said Muller, “And we intend to remain true to that throughout these negotiations as we bid to secure Saab’s future and revive the company.”
The renewed Spyker offer is valid until 5pm (Eastern Standard Time) on Monday December 21, 2009.

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by Swade

Sunday night snippets – Clarkson edition

December 20, 2009 in Saabology

Finally, just as the future of Saab seems incredibly black, Jeremy Clarkson gets to drive another Saab.
It’s a bit of a non-event, actually. Clarkson drives the Saab 9-3x and finds that it calms him down. He actually suggests that the British government buy the company so as to make British roads safer.
I think he found it a bit dull, actually but that’s Mr Powaaaaaah for you. Entertaining.
You can read it all at that link.
——
Is anyone else over the particularly American penchant for calling this a ‘saab story’, i.e. sob story? It’s an accent thing.
For me, it ranks up there with use of the word ‘quirky’ (it’s a long time bugbear of mine).
Fortunately, the Saab Stories going around at the moment are a nice rallying point in these times of need, and here’s another one from Minnesota.
——
The Stockholm News has a look at the political side of this whole story, and the threat it represents to the sitting government.

Minister for Enterprise, Maud Olofsson, chose to be present when the closing announcement was published on Friday. She has a difficult uphill battle after having spoken of Saab´s future in negative terms in the beginning of the crisis.

The fat lady hasn’t sung just yet, which means Mrs Olofsson and her crew still have a chance to look half-decent by assisting a new buyer if and when they come.
Those government meetings this weekend are pretty important in that process and I hope she’s had her thinking cap on.
——
I know I sound like an endless optimist and a broken record sometimes, but hold on to your hats people – this ain’t over and soon, you may be required to play a part.
DamagedSaabBadge.jpg
Saab is damaged, but it’s not dead.
Photo from Flickr.

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by Swade

A breath……

December 20, 2009 in Saabology

Via email, from Nick….
——
Hi Steve
I just thought I would drop you a quick note and hope it might give others encouragement.
I sold SAAB’s from 1991-2007, though eventually had to leave to sell Mazdas when they gave notice on the Saab franchise. I became attached to the brand (some said I was like a stick of rock with SAAB running through the middle) and have followed progress closely since I left.
I have dreamed of owning my own SAAB having driven many safe, fulfilling and satisfying miles in Dealer cars, and today with full knowledge of what is going on, I have put a deposit on a 2 1/2 year old 95 Vector Sport 1.9 TiD Estate, in Fusion Blue (fantastic).
Financially it is a stretch for me, but maybe the last chance for me to hang on to my own little bit of SAAB and who knows be part of the future with SAAB.
I HOPE!
95 VS.jpg
Please do not give up the faith!
Nick K

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by Swade

Press Snippets — Nyet was the answer edition

December 20, 2009 in News

As Swade asked with this post, if the deal with Spyker was nearly done, what was the problem? What was so important that it killed the deal?
As many of you (and I) suspected, it was the potential drain of Saab (and GM) intellectual property to the Russian partners in the Spyker deal. This according to the fine people over at Expressen.se.
The English translation (via Google Translation):

December 19, 2009 Spykers Russian owner got GM to halt
According to the sources of reports were still a few minor issues would be sorted out before the contracts could be signed.
Yesterday, Spyker Cars CEO Victor Muller, Saab’s managing director Jan-Ake Jonsson and General Motors negotiators Scott Mackie in Stockholm, ready to complete the Saab deal over the weekend. But a quarter to seven on Friday morning called GM’s European Director Nick Reilly to Jan-Ake Jonsson with news that the deal be scrapped.
The reasons are two, according to report:
• GM discouraged by Spykers Russian partner. GM’s technology might go to Russia.
• GM’s new management wanted to show decisiveness.

I really cannot blame GM for not selling to Russian or Chinese owners for fear of loss of intellectual property. These two economies seem built upon copies of Western products. However, I can fault them for wasting time with Spyker knowing that was a huge issue.
Nyet, indeed.
————-
On the other hand, Pontus Braunerhjelm opines in Dagens Nyheter that the future will be bright for Trollhattan and former Saab employees should Saab indeed close.

In the short term, of course, its closure will mean a difficult transition for Trollhattan. Looking further ahead, while creating opportunities for the emergence of an advanced and export-oriented service industry that builds on the solid technology expertise in Saab in which potential customers are located both in China and in developed countries. Similarly, should the considerable skills of the employees could come other manufacturing industries – which largely exists in western Sweden – a part, not least the Volvo. Saab’s closure may thus be the start of a process of “creative destruction” which both mean a new phase in the automotive industry’s organization, and may give rise to new activities.

I say wholeheartedly that is welcome news. Mr. Braunerhjelm calls for speedy investment and deft employment of the engineering expertise embodied in the Saab workforce.
——————–
It appears that Saab’s new partner in old Saabs, BAIC, is very excited about their prize. They are targeting 1.2 million vehicles in 2010, and they are already looking for help with “new energy” cars. Get ‘em tiger! The old 9-5 will be a winner in China. Rock solid and smooth.

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by Swade

News tip – Saab door is open

December 20, 2009 in News

I haven’t found a link for it yet, but I’ve received a tip about a story, either in the print edition or coming online in Dutch newspaper, De Telegraaf shortly.
Apparently it quotes a GM Europe source saying that doors are still open for a sale to the right buyer with the right offer, or words to that effect.
“The door is open” according to the press tip I’ve received.
it’ll be interesting to see what comes forth, but I haven’t seen it yet.

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by Swade

BREAKING NEWS: Reports of Swedish Government Meetings

December 20, 2009 in News

According to this report from Motor Trend, there have been emergency meetings between General Motors and the Swedish government this weekend to save Saab from the corporate wrecking ball.
Apparently this report was sourced from the offices of GM Europe since the post specifically mentions that a representative from that organization is in attendance.
Thanks to Ruud and Autoblog.
More details to come.

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by Swade

TTELA: contracts for Saab sale were almost done.

December 20, 2009 in Saabology

Before I post the translation of this TTELA article, let me share with you an email that I received from Djup Strupe. I received this about 45 minutes before I first heard that Saab would be shut down.

Just got back from an all-people meeting with ……. and according to him is the agreement between Spyker and GM more or less complete and ready to be signed today. Apparently Spyker met with the GM lawyers last night and worked thru the contracts, and GM was supposedly very nice about it. They’re just waiting for the EIB loans to be approved to finish the deal. I suspect that’s an exaggeration and there’s a lot more to be done, but that’s what he told us.

That was just 45 mintutes or so before the announcement was made. Unbelievable.
And seemingly confirmed by this story at TTELA, posted in comments by Börjesson:
——

Deal with GM only hours away
TROLLHÄTTAN: A deal with Spyker Cars was only hours away when GM suddenly pulled the handbrake. The day after, everyone is asking the same question: Why?
GM’s decision to close down Saab was incredibly dramatic when it arrived on Friday afternoon. And the picture that is now being painted about how it happened further increases the drama.
According to information to TTELA, a deal between GM and Spyker was only hours away when GM suddenly called the whole thing off. This view is confirmed this Saturday afternoon by Saab’s Information Manager, Eric Geers.
- We were on our way up to Stockholm to sign the contracts. Then something happened. But what? No idea, he says.
Saab’s Chief Legal Counsel Kristina Geers was on the plane at Landvetter Airport, carrying the prepared contracts, when she suddenly received notice that the whole thing was called off.
A few hours earlier, Saab boss Jan Åke Jonsson had on the phone recieved the dramatic and unexpected fatal notice from GM. In the morning, there was then a meeting where GM announced that they didn’t intend to continue the process.
According to Eric Geers, Saab were not the only ones to be surprised.
- This came as a huge surprise to Victor Muller (Spyker’s CEO) as well, Geers says. Victor Muller was on location in Stockholm, also in the belief that he would sign the contracts.
- We were well on our way, and I have to give credit to Spyker Cars. They have shown enormous commitment in this matter.
Saab had hoped to announce the deal as an early Christmas gift to their employees next week.
Unconfirmed information also claims that a decision by the European Investment Bank, EIB, on Saab’s loan application wasn’t far off. The conditions were thus in place for a signed declaration of intent to soon be followed by a binding agreement.
And after Saab’s deal with Beijing Automotive earlier this week, there was money on hand which enabled the deadline to be extended. If GM had had the will.
No official explanation for why GM now stopped the deal has yet been given. A rumour says that it was Spyker’s major owner, the banker Vladimir Antonov, that gave GM cold feet. But one could argue that this explanation is flawed.
Antonov’s role in Spyker is known. If that was a problem, GM and Deutsche Bank could have rejected Spyker much earlier.
Another theory is that the new GM management wanted to show decisiveness.
That would then mean that GM had already decided to close Saab – that the last weeks were just playacting.
Magnus Nordberg

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by Swade

Saab Wind-down Press Snippets

December 20, 2009 in News

To fill the gaps while Swade’s on vacation, I’ve compiled a short list of reading for you that may add to our conversation here at SaabUnited. It’s certainly been a long, cold Saturday here in Nashville already (rain and 35 deg F/2 deg C), and I can’t imagine how cold and how long the Saturday has been in Trollhattan. The emptiness must be immense. My heart goes out to those people.
—————-
First, an excellent write-up over at The Independent entitled Were Saab and GM doomed to fail? I like what Mr. Wilkins has put into words there.
This quote will give you a flavor of what he’s on about:

It’s certainly true that the models produced by Saab under GM’s ownership were, to varying degrees, disappointing, failing either to satisfy established fans of the marque or to win over large numbers of new customers. It’s easy too, to blame that on the need for Saabs to borrow parts and platforms from GM’s European mass-market Vauxhall/Opel operation.

But this is far too simple an explanation.

.
I think that he has some very valid points. I’m interested to know your take on it as well.
——————-
I also absolutely love this send-up of General Motors and their management style with respect to “failed” brands like Saab, Pontiac, Saturn, etc. in the Examiner written by Jim Cherry.
Check this scathing treatment of the GM management:

The bean counters failed the Saab brand. Just as they failed with GM as a whole. GM’s cult of MBA’s are the Charles Manson Family of auto execs, killing brands with wanton stupidity.

As former GM superstar executive John Delorean said, “A man trained and skilled only in financial control, who has no direct operational experience, simply lacks the understanding necessary to run the business.”

I’m hard pressed to find much wisdom in Mr. DeLorean’s legacy, but that quote is spot on. Well done, Mr. Cherry!
——————-
According to this release from Reuters, Sweden’s own Prime Minister was “unsurprised by the collapse of GM’s efforts to sell Saab“.
The short statement indicates that Mr. Reinfeldt feels that GM never made Saab a viable business and that made splitting it off to run alone was always going to be difficult. He also says that “hope and nostalgia had sometimes clouded Swedish views on the predicament of one of their most beloved carmakers“, and that “the company [Saab Automobile] was bleeding.
Worth a read.
——————-
Finally, from Saab’s own press outlet, Saab Newsroom, we have this pithy comment:

Sad. We believed in this.

Saab+employees.jpg

No more comments from Saab for now. We have to wait for directions from GM.

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by Swade

The full GM press conference on the wind-down of Saab

December 19, 2009 in News

I’ve just received an email from TTELA alerting me to the transcription they’ve published of the full GM press conference held yesterday.
Eggs and I were both on the conference call but time’s been too short to write much about it. I did live-blog a few points as the conference happened, but not much.
TTELA’s transcript is in English so most of you should be able to read it OK and will not need the services of Googletrans.
There’s some interesting material in there, but there’s also some absolute crapiola as well. To listen to GM saying they tried their best with Saab over 20 years was pretty difficult. It’s amazing when you hear some of this stuff, how evident it is that things are purposefully crafted to sound a certain way.
If you’re interested, the transcript is here.

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by Swade

Saturday Night Snippets – actions and reactions

December 19, 2009 in News

I’m not sure if I’m in a state of denial, but I don’t think so.
I don’t believe that Saab is dead yet, but you’ll all be the first to know when I do.
——
Got an email from a major US news publication this morning, asking for an Op-Ed piece. It’s very hard to keep it down to 800 words, but I’m trying.
——
I drove the Monte for four hours today. What a car. They can’t kill it, surely?
Here’s the view we’re enjoying right now, though it doesn’t do much to ease the confusion and the pain.
TheView.jpg
——
“B.A.” has provided a little comic relief, making up this sticker for his Saab 9-3:
Sticker
——
To the news……
Maud Olofsson blames GM and reiterates that the Swedish government will not take up ownership of Saab.
Whilst it’s been suggested, no-one’s really asking for government ownership. But GM are still open to offers and the government CAN help in a big way with the potential buyers that remain interested in Saab. They are out there.
Mrs Olofsson, you can blame GM all you want. They deserve it by the bucketfull. But you and your people deserve a large share of it too.
Now’s the time to make amends.
——
Bard Eker from Koenigsegg Group:

“We can only hope that something good comes out of it. Not least for the workers working on Saab, for it is them I am most worried about now, “says Eker…..
….Saab was never structured as a subsidiary, it was something you bought and swallowed into the great GM-body. It is clear that it is very difficult to pull out. You can take a lung of a human body, but not all blood vessels. There was a contributory factor in that it took longer for us also. They had not done the necessary [preparation] before they went into dialogue with a potential buyer…..
…..What we did wrong was that we were open about the business plan. At first no one believed it, but as they began to believe in us, the guys started to get greedy. GM would be better paid for the parts and the Chinese would have more money. Then began greed to become so dominant that we could not take more, “says Eker told Aftenposten.

There’s one particular part that’s important here, about people not having belief in the Koenigsegg Group. This wasn’t just GM, I believe that the government agencies involved had the same lax approach. Those ‘timing issues’ Koenigsegg quoted when they pulled out were 100% true.
——
Some lamentations:
The New York Times.

Saab became a statement of its own. The American competition had floaty rides and Japanese cars were tight on space. By contrast, a Saab had taut steering, requiring drivers to actively guide the car as it powered through ice and snow.

The Boston Herald

“To see brands like Saab go out of business is really sad,” said Ray Ciccolo, who owns Norwood Saab and Watertown’s Charles River Saab

Courant.com

Since buying her first car in 1970, Theda Marinelli has never owned anything but a Saab. She tells her friends: “When I die, put me in my Saab. Take me to the compactor, make it small enough, and bury me in my Saab.” Now that Saab itself has died, Marinelli is in mourning.

——
The hardest words to hear this weekend have come from Jan-Ake Jonsson:

GM has now decided to liquidate the business and it would mean that in future we will not build Saab cars here.

Saddest. News. Ever.
Let’s hope a solution can be found.

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by Swade

Saturday morning snippets – feeling crap edition

December 19, 2009 in Troll Stuff

This is all so unreal!
It’s been a madhouse inside my inbox this morning. Please don’t be offended if I can’t answer private emails today. Not only was our favourite car company scheduled for execution just 9 hours ago, but on top of all the madness that ensues during such an event, I’m also due to leave on a family holiday this morning.
Pleasant holidays, huh?
Thankfully, due to the contributions you all made here, I have one of these (see photo) so I’ll still be connected while we’re away:
TelstraTurbo.jpg
No, not the dog, but the little blue USB thingy. Look closely, it even says TURBO on it!!!
There should be enough pre-paid bandwidth there to keep the site going over the next few days.
——
There’s plenty to write about this whole situation, but that’s a long drive away from being done.
The one thing I will say is that THE FAT LADY HASN’T SUNG ON THIS COMPANY.
She’s in the warm-up room, but she’s not on stage just yet.
There ARE buyers for Saab out there. It’s just whether these people and GM can come together and whether the Swedish government (otherwise known as “It’s not our fault, Inc”) can continue the assistance they’ve given in the last month.
——
There’s not much I can write just at the moment due to time constraints, but thanks for hanging around, thanks for all your input.
I want to join with a lot of you in extending my heartfelt sympathy to the people at Saab Automobile and the people of Trollhattan in general. These people have worked so hard on this all year now and it’s just not right that it goes this way.
I don’t think the ending has been written just yet. Saab’s to good to go away.

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by Swade

Where to lay your blame for the demise of Saab

December 19, 2009 in Editorial

UPDATE: There are many comments about this post that indicate that I’ve been a bit misunderstood here. I am NOT absolving General Motors of guilt. I am piling more folks onto the heap of shame for mistreatment of our beloved brand. Please read with that in mind. Thanks for reading. EnG.
———–
I hear a lot of outcry against General Motors for the current state of Saab. After all, they’ve owned Saab for almost twenty years and they’re the ones pulling the plug so it has to be their fault, yes?
At least partly true.
However, there are several other things hidden from us by the passage of time. Let me remind you of a few things.
Saab was already in a little bit of trouble when GM bought them in 1991. The Wallenberg family, who had controlling interest in SAAB (the aircraft, automobile and defense technology conglomerate) already had many mounting financial difficulties. In a failed attempt to gain some financial synergy, the Wallenbergs had merged the Saab automobile operations with the Scania truck and bus operations. Things weren’t getting any better, and the Swedish financial crisis in the early 1990′s sealed the fate of the vast Wallenberg empire. Thus they elected to sell Saab to General Motors in 1991.
Think about the condition of Saab at the time: the C900 was 12-13 years old in 1991, and the 9000 was 5-6 years old. How many car companies can live like that? Not many. The Swedish ownership group had not invested in Saab in some time. In fact, the joint development of the 9000 with Alfa Romeo and Lancia was indicative of the challenges that Saab already faced: they needed help just to develop a single new car platform. Bob Sinclair himself commented on this issue after his retirement from Saab USA.
GM came along and created the NG900/9-3 largely from the Opel parts bin, which certainly boosted sales. The 9-5 was good, too, but it certainly never took off in North America as well as one would expect due to some pretty heady competition. European sales were better, I simply don’t know by how much.
By the late 1990′s, GM was in trouble of its own — losing market share to the Japanese, it cut Oldsmobile and reorganized. Saturn was struggling and needed infusions, and GM became ever addicted to the SUV and small truck market, which it dominated. There simply wasn’t much time for Saab. In fact, there never seemed to be time for Saab in the entire ten-year stretch from 1999 to today.
So, to sum up: Saab was neglected by the Wallenbergs, affected by the Swedish financial crisis of the early 1990′s and then neglected by GM. There’s plenty of blame to go around! Plenty.

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by Swade

You make the news – Saab closure edition

December 19, 2009 in News

I’m not willing to accept this just yet.
——
Meanwhile, it’s way too late here, and consequently I need you guys to take over for the next 5 hours or so.
A pox on GM. Seriously. A pox.
——
it should be noted from the conference call that they are still willing to listen to an investor who comes up with the right deal.
I can tell you that there’s at least one and possibly two of those out there. What it’s going to take to strike up ‘the right deal’ is unknown.
GM also said that in the wind-down, that various assets such as the 9-5 and 9-4x would be available should someone want to take them up. A re-start is possible.
Not wanting to get anyone’s hopes up, but these are the doors that are open if the right person/group can walk through them.

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