Weekend Loan Update

A new week, a new round of press for Saab. We can all hope this time that loans will get approved, the liquidity situation will ease up, and the factory can restart production; then the media can finally report something positive.

A recap of events over the weekend:

  • According to Lars Carlstrom in an interview with TTELA (english version),”Yes, (the NDO) have given the green light to Vladimir Antonov can lend money, but he wants to come in as a shareholder. And it’ll continue to negotiate on this issue over the weekend.”  Vladimir Antonov himself and Victor Muller have been negotiating with representatives of government and Riskgälden since Friday.
  • According to Ola Kinnander at Bloomberg (a very trusted source of SU) , a source who didn’t wish to be identified since the talks are private indicated that the loan will come from Bankas Snoras in Lithuania (which is controlled by Vladimir Antonov). Lawyers are working on the loan deal today (Sunday April 10), which may be approved as early as tomorrow, two of Kinnander’s sources said.
  • Saab would likely borrow around 300 million kronor (€33.4 million) from Bankas Snoras, one of the people said, which will get production started ASAP. At the same time, Antonov and Spyker will wait for clearance to bring in Antonov from the EIB. Antonov is ready to invest at least €50 million in Saab, Lars Carlstrom said April 8, when he also said Antonov has agreed to cap his stake in Saab at 30 (29.9) percent.

All in all, it just shows Victor, Vladimir, and their team of lawyers and accounts will work all hours to make sure every paper is lined up and in order, even on the weekends. As hard as the production stop was on Saab in the media, it could have been a lot worse. In the United States, Japanese auto makers’ supply problems took center stage, and the biggest supply disruption– the US government’s near shutdown– kept the story pretty well hidden in the press. And while we all know that Saab is alive and kicking, for a lot of customers in the US and abroad, Saab hasn’t yet raised it’s profile enough for them to even realize that the company is still in business.. You don’t get too many second chances, but Saab has one and needs to get it right. Once the hiccups are solved, let’s hope they get a strong message based on real facts that Saab is alive, kicking hard, well stocked, and a bargain compared to the competition. We’ll help as much as we can here.

For my second sports reference in two days, It’s not whether you get knocked down; it’s whether you get back up.” Points for anyone who knows who those words are attributed to (don’t google!)


meg haviland
Member
5 years 5 months ago
In the United States, Japanese auto makers supply problems took center stage, and the biggest supply disruption– the US government’s near shutdown– kept the story pretty well hidden in the press. My thoughts exactly that other news made more precedence. We don’t need more negative press being on the front line for Sales in the US. Got to get these cars out on the road so Saab has a bigger presence in the public eye to help draw traffic to the Showroom Floor. One of my Deliveries did note the lack of 9-5’s on the road. Let’s hope for a… Read more »
paddan
Member
5 years 5 months ago
The only way we will see more 9-5s (and 9-4Xs and 9-3s too) on the road in the US is if there are very aggressive lease deals that are lower than the competition. I realize that US banks are reluctant to give Saabs a high residual value and the past weeks events can’t help. But this is an issue that SCNA and Saab Sweden will have to figure out. The fact is that very few people in the premium luxury market in the US buy their cars. While it is amazing to see cheap 2010 9-5s still languishing on dealer… Read more »
No 9
Member
5 years 5 months ago

399/month for 39 months, 2000$ down for a 9-5turbo4 sounds good to me… (?)

paddan
Member
5 years 5 months ago

Indeed, except no sunroof – that is a base model. Which to many US consumers is a non-starter. Don’t get me wrong – that is a start. But try to lease a higher level model and see what the number is. The program should be across the range.

No 9
Member
5 years 5 months ago

Looks like I will like a banker for the first time of my life!
Griffen Up!

saabsideways
Member
5 years 5 months ago

“It’s not whether you get knocked down; it’s whether you get back up.”

Chumbawamba of course and their English drinking anthem….

http://www.youtube.com/watch?v=hDkVQvhZx04&feature=related

zippy
Member
5 years 5 months ago

Griffin Up!!!

Lets hope the Swedish media find something positive to say soon. 🙂

Lars S
Member
5 years 5 months ago

Well, we all know that whatever happens, they will do their best to describe it in a negative and pessimistic way.

Pedro
Member
5 years 5 months ago

Thanks for the update! Let’s hope this gets sorted soon.

Börjesson
Member
5 years 5 months ago

Let’s hope the bank doesn’t start a Swedish branch under that name. Snoras in Swedish = “snot carrion”… 🙂

Lars S
Member
5 years 5 months ago

Would be a classy feeling if that happened. I’d open an account…

Henric Tungström
Member
5 years 5 months ago

Snoras is fine with me, and they are really working in the brand-name thrue F1 where the Lotus-Renaults are Snoras sponsored. 2 podiums in two races, and Petrov took his car for a flight today too! (of course crashed at landing though.)

Red J
Member
5 years 5 months ago

And the main owner of that team is Genii, somebody remember that name 😉

Alex L
Member
5 years 5 months ago

Ola Kinnander and TTELA’s Valdemar Lönnroth, together perhaps with Alrik Söderling, deserve much credit for being the only journalists who actually report facts, not speculation, and let both sides speak.

saabyurk
Member
5 years 5 months ago
I hope the government doesn’t exhaust Antonov’s patience. From the sound of this Expressen article, he may be getting tired of their stonewalling. Or, maybe its just a bad Googletrans. Googletrans: According to DI, the Russian billionaire and Saab Lover Vladimir Antonov acid reacted to the signals that he likes to get set up with emergency loans but that he is still not welcome in the heat, as a partner. Original: Enligt DI har den ryske miljardären och Saabälskaren Vladimir Antonov reagerat surt på signalerna att han gärna får ställa upp med akuta lån men att han ännu inte är… Read more »
phermansson
Member
5 years 5 months ago

In my personal opinion, Expressen is the last place one should look for credible information about anyone… That paper together with Aftonbladet are both the two biggest BS papers in Sweden…

saabyurk
Member
5 years 5 months ago

Guess maybe I’ve heard that before but forgot, and I’m not that familiar with Swedish publications. I think I’ll start a list of who NOT to quote for future reference.

Lars S
Member
5 years 5 months ago

It is probably easier to make a list of who you actually should quote. Saves you ink aswell.

ante
Member
5 years 5 months ago

TTELA is on it with an update of yesterdays article on Antonov and the process:

http://ttela.se/ekonomi/saab/1.1178415-lite-ljus-i-den-akuta-saabkrisen

An article like this is then googled by someone at expressen, aftonbladet or som other tabloid and rewritten. Expressen wants to sell and thus need to break news. Running an doom and gloom article today and a saab saved tomorrow and a maffia piece on antonov being capone (keeping a kalashnikov in the guitar case) on tuesday really is make up a perfect orgasm for mr tabloid-writer-person!

No 9
Member
5 years 5 months ago

I can’t make too much out of it by googletranslation but it sounds very positive. Again, the ownership issues seems to be settled. So be it.
Engage!!

DAF77
Member
5 years 5 months ago

I don’t understand: Chinees got Volvo, but a European Russian with REAL feelings with Spyker/SAAB can’t get a stake in Spyker/SAAB ? I thought the cold war was over ?
Without Victor Muller there wasn’t a SAAB 95, SAAB 95SC, SAAB 94X or SAAB 93 Giffin….
Maybe THE time to get new Spyker/SAAB stocks on the market ? I will buy them.

greetings

paddan
Member
5 years 5 months ago

I’d love to see those EIB loans paid and all ties to dependence on Swedish politicians cut once and for all.

phermansson
Member
5 years 5 months ago

I would just like to remind everyone of a single fact that I know you know… but I’m going to say it anyway… In the end, Russian money, loans etc etc is not a solution… THE ONLY solution is that people actually go out and buys a new Saab. If people do this, then Saab will survive…

So please, do not wait… buy a new Saab now!

turbin
Member
5 years 5 months ago

Sorry TimR but I will wait : P

9-5 has just been launched here in Oz last week (as you know) but we have to wait until late this year,early next for 9-5 Combi and 9-4X. That’s where my money will go.

Red J
Member
5 years 5 months ago

If you buy a 9-5 Combi and a 9-4X it is OK to wait. 😛

turbin
Member
5 years 5 months ago

For that we wait longer.

Doctor Donk
Member
5 years 5 months ago

Good combo im getting 9-5 sedan for myself and probably 9-4x for granny if it will be offered with low options and small cheap engine.

MadBanker
Member
5 years 5 months ago

Already did…
Waiting for my 9-5 Aero TTiD XWD!

Chicago Swede
Member
5 years 5 months ago

You are absolutely right TimR!

The more new SAABs purchased the better the future for SAAB. If you can’t purchase now, then please be sure to take anyone you know who can—> straight down to your local SAAB dealer. The SAAB dealers need our help as much as SAAB does!

thor
Member
5 years 5 months ago

I would also buy a new saab a new 9-3 also called the sucessor form Jason castriota, when it comes to the Market here in europe as soon as possible. Give us more information about this car and put out the orderbooks

Thylmuc
Member
5 years 5 months ago
Well well, loans need to be paid back, and investors want a ROI, so all this only postpones Saab’s problems to a later date, but more severe then. The real question is why the 9-5 sedan specifically tailored for the US market is not a bigger success. The discussions so far on SU did not convince me, even though the brand image, and introducing the top models first -given the brand image- might have played a part. And the lack of success in Germany, a few years ago one of Saab’s biggest markets, is also troublesome and inexplicable. Since Saab… Read more »
Khrisdk
Member
5 years 5 months ago
Well …The americans are a weird bunch. (sorry) Either the cars have no sunroof, the engines are too weak, they have no manual on the Aero, they can not live with a 4-banger in the 9-5SC, prices are too high, fuel economy is too low…etc. et al. Just the problems in getting the right cars to the market in US AND the lousy exchange rate makes it a problem to sell. We await the 9-4X for the US. Much higher returns on investment because of production in Mexico, and it suits the american perception of a car. Germany is something… Read more »
Red J
Member
5 years 5 months ago

One point with Germany is, as you say, that they are not spending much, although the future doesn’t look as bad as in many other countries, but I think the major problem is the bad perception of none German brands. They are über-proud of their domestic brands.

Thylmuc
Member
5 years 5 months ago

Car sells are exploding in Germany, if I understood that right, since several months. Evidently, mostly German brands are profitting though. What brands do you sell?

Khrisdk
Member
5 years 5 months ago

Jacob jensen

The designer who used to design for B&O

Thylmuc
Member
5 years 5 months ago

Weird; I really like his designs. Maybe the German taste changes from Scandinavian to Italian lately? Frankly, I have no explanation aside from such cultural shift. But then, Ikea is still doing well in Germany, but as it seems, their quality is decreasing by the minute, which would suport your assumption of greedy Germans.

Chicago Swede
Member
5 years 5 months ago

Okay if we Americans are so weird, why is Audi and BMW having record sales here in the USA?

I agree the 9-4x will make all the difference for SAAB here in the US. It is the vehicle that will put the brand back on track in the mind of the US consumer. Audi and BMW cannot sell enough Q5’s, X3’s and X5’s. The Cadillac SRX is a runaway success for GM. SAAB should send the 9-4x over and send them quick in my humble opinion.

Thylmuc
Member
5 years 5 months ago

Send them over the gulf of Mexico, that is?!

😉

viggen
Member
5 years 5 months ago

Indeed lets hope for a positive outcome! i hope everything goes well!

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