Saab’s reaction to court’s decision.

Court rejects voluntary reorganization application. Saab Automobile to appeal decision.

Zeewolde, The Netherlands, 8 September 2011 – Swedish Automobile N.V. (Swan) announces that the District Court in Vänersborg, Sweden today rejected the proposal for voluntary reorganization by Saab Automobile AB and its subsidiaries Saab Automobile Powertrain AB and Saab Automobile Tools AB (collectively Saab Automobile). Saab Automobile is disappointed with the ruling and will appeal the District Court’s decision.

Swan will update the market tomorrow on further developments.

Belfast_Saab
Member
5 years 21 days ago

What is the timescale of the appeal procedure?

jet black
Member
5 years 21 days ago

Is this Plan C that VM talked about?

till72
Member
5 years 21 days ago

Yeah, from what I’ve heared he said that this was plan c. But he also mentioned that there was still plan d. Incredible.

jet black
Member
5 years 21 days ago

Following that logic, plan D would mean going to Supreme Court…. 😉

RS
Member
5 years 21 days ago

The court didn’t believe Saab is in a better position than in 2009. Really? The product portfolio has improved significantly since then but again this is what you get when business decisions regarding Saabs future are made outside the HQ.

Audun
Member
5 years 21 days ago

+1

Norwegian Blue
Member
5 years 21 days ago

Saab burned through its cash in record time and hasn’t produced anything but a rebadged Cadillac in months. Worldwide there is excess capacity in the automotive industry and Saab has neither the market share nor qualitative edge to succeed.

From my point of view the worst case scenario is that it becomes just another badge to a large manufacturer and exists basically as an upscale version of a cookie-cutter automobile – much as it eventually became for GM.

No 9
Member
5 years 21 days ago

And the factory has been resurected!
The product line is ready to go!

Jasza
Member
5 years 21 days ago

Good night and good luck.

scottishsaab
Member
5 years 21 days ago

If VM has all these other plans up his sleeve why didn’t he just put his best plan forward and get it approved the first time instead of all this going back and forward all the time!!!! Its now a lot worse for us sat in a dealership just now we have had 3 cancelled orders this morning so far…..

Bravada from GMI
Member
5 years 21 days ago
If this doesn’t make VM look like a clown than what is. . It is my understanding the entire application did not contain some secret detailed solution, but the same generalist “hopefully something will happen, just give us a few days” stuff Saab has provided in press releases. Nobody really believes those declarations anymore, and now the court finally ruled they are not worth much. Good luck fighting, but I can’t help waiting for somebody to take Saab over and put some serious management in place. To waste the chance that stood before Saab at the wake of 2010 was… Read more »
Bravada from GMI
Member
5 years 21 days ago

*what does

Belfast_Saab
Member
5 years 21 days ago

Really? Without VM Saab would have died in Feb 2010. End of.

Rover limped on with a (good) 75 model, an aged 25 and 45 and no concrete plans for any new models, hardly a success waiting to happen…

hans h
Member
5 years 21 days ago

Rover wasted a lot of money producing a RWD Rover with a Mustang engine. I remember TopGear liking it a lot, but they never understood why it was still a Rover 75 on the outside.

Bravada from GMI
Member
5 years 21 days ago

Re: Hans – which proves that if the Phoenix Four were more serious about continuing and less careless with money, they could have perhaps had Rover survive much longer (e.g. launch the MG6 as we know it today back then).

Rover was a company building far less expensive cars, facing adverse exchange rates, with a much less modern factory. This shows how much of a failure Saab is under the current management.

Polle
Member
5 years 21 days ago

@ Bravada: I can understand your reaction, but he also did some good things.
I think that he should have left the CEO bit to JAJ and stay out of the media instead of acting next to him as “co”-CEO. We would have kept more credibility.
The press release from yesterday shows he once again counted his chickens before they were hatched…

Bravada from GMI
Member
5 years 21 days ago
Well, for whatever reason JAJ wanted out. VM simply couldn’t keep him, didn’t want to keep him or didn’t care. That’s one of the largest mistake of his, in hindsight keeping JAJ could have probably helped the company immensely. On another note, even under JAJ, Saab was so conservative, passive and uninventive in their efforts to boost sales and create a thriving business model they make GM look like Google. Perhaps JAJ is the culprit as well, passionate but unable to think outside of the box after so many years with GM, but VM’s “doctors” such as Adrian Hallmark didn’t… Read more »
ivo 71
Member
5 years 21 days ago

I don’t know that I agree with you on some of the other stuff but I will grant you one thing: the marketing and advertising effort so far was worse than bad. And Adrian Hallmark was a first-class mistake. Maybe VM’s biggest because lack of imaginative brand rejuvenation marketing was imho THE major factor in the decline of Saab sales in the USA. In other words that was what caused the -ultimately lethal- catastrophic sales figures.

Ivo

Norwegian Blue
Member
5 years 21 days ago

My impression is the problem Saab had in the U.S. is that their cars were indistinguishable from other cars and overpriced. You could buy a better car for the same money from Audi or BMW or a comparable domestic car for less money. No amount of marketing was going to overcome that.

I think Victor Muller and his team made a valiant effort to keep the company running until an improved product line could be brought to the market, but in the end they couldn’t overcome the low sales volume and simply ran out of cash.

ivo 71
Member
5 years 21 days ago
Marketing is about convincing the prospective buyer that what he is buying is worth the money he puts on the table for it. If the prospect comes to believe -as you seem to- that a product is overpriced for what it offers or not ‘different’ enough from the competition then the marketing has failed. I don’t believe that, in fair comparison to others, Saabs are way too expensive for what they are and offer. I do believe, however, that the models offered by Saab are instantly recognizable as Saabs -even if they share a platform with some GM products- and… Read more »
Norwegian Blue
Member
5 years 21 days ago
Khrisdk
Member
5 years 21 days ago

The culprit is Saab as an entity.
Maybe management could have handled things better, also when JåJ was involved, but the main problem seems to be that a lot of people on several levels really forgot their new slogan “Move your Mind”

Neither JåJ nor VM or other management people managed to push through some much needed changes in the company culture.

KarlR
Member
5 years 21 days ago

Bravada, In a way I agree but the problem if SAAB goes bankrupcy SAAB cant use the brand anymore! So no more saab

Pedro
Member
5 years 21 days ago

There is a window of time between this decisiona nd the appeal and the start of a liquidation process where, in theory, someone might appear.

KarlR
Member
5 years 21 days ago

Polle, I agree! He was a bit to unswedish and everything in sweden that is unswedish is strange and something fishy. At least the media and svensson thinks so. 🙁

WM
Member
5 years 21 days ago

I agree. Sweden is kind of awful. You expect this sort of witchhunt mentality/insularity here in the US–but it’s been an eye-opener to watch Sweden happily cavort over SAAB’s pending demise. It’s like a country and media run by TTAC.

lundin
Member
5 years 21 days ago

Keep figthing,keep the spirit friends!

As i see it,this i of course very problematic,but the decison has been made on lack of information,it could have been worse (yeah really!). Please do attach the binding agreements with PangDa and Youngman and explain them in laymans term. Also please make sure Mr Pang get his own chapter(s). And Please keep asking the court all the time what they really want,so no missunderstanding happens again.

Sad day,its ok to feel sad today,but we need to keep forward.

Nikola
Member
5 years 21 days ago
Let’s face the facts – VM constantly gave promises he was never able to deliver …. 9-5 is a good car but it came 5 years too late – well that’s GM’s legacy. 9-4x is great, I had a chance to compare it side by side with SRX an it is way better looking and tasteful. but people don’t buy 9-4 because they lost trust in the brand. Nobody listened to VA when he said at the beginnig of the year that SAAB will face financial problems. VM actually downplayed his comment. This time it looks it is over… Unless… Read more »
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