Youngman CEO Pang Qingnian on SVT.se

Mr. Qingnian says: “The goal is to buy the complete Saab and to continue to make the cars in Sweden. We want to do it using the present factory and the equipment inside. With that equipment one can reach the demands the market has on a car with the Saab brand. To many parties were invited by Victor Muller, Hawtai and Pang Da, he says he likes Victor Muller as a person, but if he had managed Saab wisely Saab would never had gone bankrupt. The task was to big for Victor Muller”

Pang says he is ready to put 2 Billion SEK on the table and buy Saab. If that is a bid the lawyers will accept we will see in a few days I hope.
According to Swedish media the cut off date for bids was monday evening. So technically there must be a winner out there somewhere…..

Smithy
Member
4 years 6 months ago

I’m dying to know about the other parties. As for YM, I wish them luck. I mean, if they turn out to be the only savior, go for it. Better than no Saab at all and hopefully they’ll manage it right.

dezzer
Member
4 years 6 months ago

for Christ sake….someone buy them !!!

USAaber
Member
4 years 6 months ago

… or someone sell them!!
There seem to be buyers…

Baver
Member
4 years 6 months ago

Ugh. That is all.

Dejjo
Member
4 years 6 months ago

If BMW???? Don’t get SAAB, I hope Youngman get it. They clearly have a vision for the company and money to make it happened. In my eyes Youngman is the only bidder that has a plan, all others involve GM and we all know GM is just waiting for the chance to bury SAAB for good. XXXX GM and the horse they rode in on.

dezzer
Member
4 years 6 months ago

lol

Troels, Denmark
Member
4 years 6 months ago

I guess you are right..

katar1na
Member
4 years 6 months ago

GM has its headquarters in a bankrupt country…
Let´s just wait and see what happens next ):-]

hilmar
Member
4 years 6 months ago

Perhaps they have to bury their G rand M other. 😉

wishihadasaab
Member
4 years 6 months ago
Technically America is not bankrupt. The Chinese bought bonds bad bonds. If the U.S. does not recover then those bonds are just worthless. But the U.S. does have some loans out as well. Still makes no sense that a country that owes another country money would give that country billions in foreign aid. Do not get me started on U.S. fiscal policies- we could be here all day. G.M. is company first and foremost. Their only desire is to make money. You cannot fault a company for being “a company.” Don’t mistake my understanding for a love for G.M…. Their… Read more »
Kimberly
Member
4 years 6 months ago

re: However; G.M. has repaid the agreed upon debt to the U.S. so they are no longer under government control.

Not quite; part of the loan was repaid using yet another government loan (effectively an extension). See http://www.foxnews.com/opinion/2010/04/23/did-general-motors-really-repay-taxpayer-bailout/

It’s like saying you paid off a $12K credit card, when all you really did was transfer the balance to Discover.

GM lied. As usual.

Kimberly
Member
4 years 6 months ago

And, in case you do not trust Fox News (who does at this point, really?):

Uber-liberal New York Times reports the same:
http://www.nytimes.com/2010/05/02/business/02gret.html?pagewanted=all

davidgmills
Member
4 years 6 months ago

Uberliberal? Come on. Typical mainstream media.

Angelo V.
Member
4 years 6 months ago

GM still owes 20 billion, U.S. dollars to our treasury.

ThomasJ
Member
4 years 6 months ago

Yes, there will probably be new problems for GM, perhaps within 10 years time.
The have not paid back for the bailout.
That have taken new loans to pay back a part of it.
Here you can follow the current cost for the american taxpayers:
http://www.bailoutcost.com

ThomasJ
Member
4 years 6 months ago
spacy
Guest
4 years 6 months ago

” there must be a winner** out there somewhere…..”

** Let’s just hope it’s not for the Bits….

Kyle Hudson
Member
4 years 6 months ago

I hope that someone brings my griffins back to life….I almost considered buying a 2012 passat…BRING BACK SAAB BEFORE I DO SOMETHING FINANCIALLY STUPID!!

Carlo A
Member
4 years 6 months ago

don’t ….. wait please
🙂
Griffin up!

wishihadasaab
Member
4 years 6 months ago

I am contemplating a GTI myself… or possibly an A3… I am giving this till the end of summer to workout before I decide… I am in no rush but I need some hope to sway my decision.

saabsideways
Member
4 years 6 months ago

VW produce the blandest cars on the market and the Passat is the most mundane shade of grey of any car I see on the roads.

Put the W12 in a Mk 1 Golf and then I’d be interested.

wishihadasaab
Member
4 years 6 months ago

I think the GTI is peppy and the plaid interior is interesting. I prefer it over BMW’s 1 series…. BMW’s are nice but I prefer front wheel drive…

baas900i
Member
4 years 6 months ago

Here in Oz V-dub are making so much money as approximately 25% of all cars sold are premium i.e. gti, r32…. V-dub have absolutely cracked the market by controlling their own distribution, coast to coast coverage with dealers and authorised service outlets. Sales have gone from a very low base to 40,000 unites per annum. Heritage played a large part in the Oz V-dub revival…. Let us hope potential Saab buyers are listening, watching…..

Jesse Crandle
Member
4 years 6 months ago

Good God, men, do you hear yourselves?! VW?! Although as sad as it is the only car I’d consider after a Saab is probably an A3. I love hatches, and the A3 is a entry luxury h.o.t. hatch that’s fwd/awd… basically the closest thing to a Saab you can get *sigh* 🙁
BUT I’M NOT GOING TO HAVE TO BUY AN AUDI, BECAUSE SAAB WILL RISE AGAIN!

hans h
Member
4 years 6 months ago

If I can’t buy a Saab in the future, I will buy an Aston Martin. 🙂

Allan B
Member
4 years 6 months ago

I just can’t get excited about any car other than a Saab.

Oh OK then, an Aston Martin for me too. 🙂

Chicago Swede
Member
4 years 6 months ago

or a Volvo S60 AWD…..

Saablime
Member
4 years 6 months ago

If I can’t buy a new SAAB in the future, I’ll keep buying old SAABs.

hans h
Member
4 years 6 months ago

+1

katar1na
Member
4 years 6 months ago

Nice to hear some good news;

I met a new colleague the other day. He moved to Sweden just because
he had fallen in love with SAAB!

Like storys like that ,-)

Roman Shvets
Member
4 years 6 months ago

In Dec 2010 I have visited Sweden (Stockholm) the first time in my life. As I have had Saab 9-5 Aero since 2005 I wanted to discover for myself how popular the brand was in Sweden. The impression exceeded all my expectations – Saabs were everythere, on every streets! It was feeling similar to being at home among old friends. I never forget it.

alwaysSaab
Member
4 years 6 months ago

Good to hear that but sad to say the Saab is not in the mind and heart of the Government! Sigh.

Chris Carrier
Member
4 years 6 months ago

Wow – quite an insult to VM.

wishihadasaab
Member
4 years 6 months ago

Yeah, maybe that’s why VM was vetting BH instead of Youngman… If someone spit on me I wouldn’t help them either. On the other hand maybe someone could have done better. Maybe if they had deeper pockets, but there is no denying that VM gave it his all this past year. Can they?

Jesse Crandle
Member
4 years 6 months ago
Unfortunately I think what happened was VM thought the Saab fan base plus the release of the ng9-5 was going to be enough to stave off the jackals until the Phoenix was developed. Would’ve been a hail mary, but things got too grim. On the other hand if he hadn’t scrambled as hard and long as he did the Phoenix platform wouldn’t be as far along as it is, and then I think the bidding pool would’ve been much smaller, or else Volvo would’ve just been given the machinery, book closed. Did Victor do things perfect? Maybe not, but he… Read more »
davidgmills
Member
4 years 6 months ago

If that money was spent on building cars and marketing, maybe they would not be where they are. I understand wanting your own platform. But that was a huge expense, one that a small struggling company could not afford.

rune
Member
4 years 6 months ago
There are those who say the 9-3 was old. Which, if one disregards new tech like XWD and new engines that was added, is true. Sort of. In light of that, one need something to replace it with. Even if you (like me) claim that the 9-3 w/XWD is only a four year old car, it still needed to be replaced in a not too-distant future (say 2013/14..?). As for marketing, I hear they spent quite a bit of money on that. What they got in return is discussable, but the amount of money shoved in was substantial. A year… Read more »
quickbird
Member
4 years 6 months ago

I agree with Mr. Pang, VM’s mismanagement is the main reason for Saab’s bankruptcy. Although lots of you guys don’t want to admit that…

Angelo V.
Member
4 years 6 months ago

I don’t think it was mismanagement as much as lack of funding—-and Mr. Pang alluded to the task being “too big” for Victor Muller. I think that might translate as “biting off more than you can chew.” I’m grateful to Victor Muller for keeping Saab’s heart pumping long enough for Saab to be on this current life support—-gravely ill, but still not quite dead. But that said—-is there really any logical way to argue Mr. Pang’s assertion? If Mr. Pang was wrong, Saab’s would be rolling off the assembly line. The business plan failed.

PPSwiss
Member
4 years 6 months ago
The reason why was lack of funding, which was due to the fact, that not enough new cars were sold, period. Who, of all those stating VM’s mismanagement is the reason for the tragedy, actually bought a new car 2010 or 2011. Of course there wasn’t enough cash to jump-start the marketing machine, but unfortunately the numbers that would have generated cash weren’t reached before March/April 2011. Whatever the outcome will be, I’m glad I made my dream come true. I think it’s better to try and seemingly fail, something good usually happens later. He tried, he failled – but… Read more »
Angelo V.
Member
4 years 6 months ago
I tend to agree with you—but others here have asserted to me that the sales numbers were respectable enough—-they ran out of financing. The theory is that the Russian investor could have helped, but the Swedish government put the kabash on that—other sketchy reasons given about “financing” not coming through leading to the bankruptcy. Me? I think it’s far less sophisticated than that. If you have a factory building cars and shipping cars—-then it stands to reason that if those cars are being sold, the business will sustain itself. If in fact the sales numbers were “respectable” but they still… Read more »
alwaysSaab
Member
4 years 6 months ago

Saab saga will be excellent material for Harvard Business School. In the meantime, I want to see new Saabs coming out from the production line. Other things are secondary.

Jesse Crandle
Member
4 years 6 months ago

Hold on, I’m pretty sure there’s a tribute page on this very site saying thank you to all of Victor Muller’s hard work, and when I say he had passion for Saab I get three thumb down remarks? That makes a lot of sense.

hogge
Member
4 years 6 months ago

I just hope Youngman really have a plan for how Saab should continue without its current model range. All parties which have pulled out thus far have been naive enough to think GM are in any way reasonable.

Like I said before: buy the old Mini platform, build a new 9-2 on it and then sell a green “History Repeats Itself”-edition. Then put XWD on it and go rallying!

wishihadasaab
Member
4 years 6 months ago

Is M&M still in the game?

Turbo_Charged
Member
4 years 6 months ago

According to this:
http://www.thelocal.se/39382/20120228/
Which is dated today, M&M have placed a bid.

Daniel B
Member
4 years 6 months ago

GM seems to be full of sensible people…….:
http://sverigesradio.se/sida/artikel.aspx?programid=125&artikel=4989521

NOT!
This is nothing but a plain confirmation of what Brightwell was experiencing…

NO to any buyer. The will not support a new buyer no matter what…
Anyone got a plane that I can use drop my 9-5 into GM HQ..?

RS
Member
4 years 6 months ago

According to James Cain; VA would have been accepted by GM in April but not by the Europeans who would have loved the Chinese, but who couldn’t be accepted by GM…
Sums up the whole SAAB drama of 2011 in one sentence right there. But I don’t even want to start speculating how badly the Swedish press would have torn Saab apart if Vladimir had owned a big part of the company at the time of the bank scandal.

ivo 71
Member
4 years 6 months ago
“Anyone got a plane that I can use drop my 9-5 into GM HQ..? ” It’s no use. GM HQ is the Renaissance Center. They’ll just shake and get reborn. The US taxpayers will fund a new RenCen and a couple of hundred zillion dollar for the incentives and bonuses of the new Board. Or maybe they’ll just move their HQ to Shanghai, China being their biggest market anyway. Then how you will be dropping your next 9-5 on them? The Chinese hate bombers entering their airspace without permission. But maybe they will allow it just this once if GM… Read more »
Daniel B
Member
4 years 6 months ago

Sorry. Ivo. That was all meant in irony. I´m perfectly aware of that we can only sit on the side of the court and wait and see and hope.

What I meant is that there is a tiiiny bit of frustration growing in me towards GM at this point.
It is what it is, but one cannot wonder: Why?
Mr Cains statements are full of eroors as well.
“GM are not to blame for suppliers and employees not being paid” .. No mr Cain not this time, but remember 2009…?

ivo 71
Member
4 years 6 months ago

No sorries, Daniel. My comment was, in point of fact, sarcastic. Or maybe even sardonic. As far as I’m concerned, ironic just doesn’t cut it anymore when we talk about GM. And you can drop 20 old 9-5’s on RenCen for all I care about them. Then again, perhaps you should drop a flock of Pontiacs, Oldsmobiles, Saturns and Hummers on it, it would be more fitting anyway and we retain more old 9-5’s for parts.

Ivo

Paul
Member
4 years 6 months ago

I believe Mr. Qingnian is forgetting one important domino in the Saab’s bankruptcy filling… GM did not no allow VM to work with any Chinese companies….

nichell
Guest
4 years 6 months ago

It’s interesting to read some of these comments where the writer makes some really wild, unfounded statements, as though he knows what’s going on, and all the facts etc. To make statements when you don’t even know one iota of what’s going on behind closed doors is really shocking.

BarryMemphis
Member
4 years 6 months ago

Two billion kroners = approximately $300 million USD. That isn’t nearly enough….

CSD_ChineseSaabDriver
Member
4 years 6 months ago

This does not include the funding for new development, which mounts to some 1 billion USD

jond
Member
4 years 6 months ago

@CSD_ChineseSaabDriver
YM are in negotiation for a prize and will be committed to pay what they bid. However, sometimes when you are negotiating you might suggest something that may be a bit of an exaggeration to try to improve your case. What I mean is that the USD300m is certain, but the USD1bn may not quite work out to be quite that. OTOH I am quite sure that they would have access to that sort of funding were it to be necessary to make the acquisition work.

RS
Member
4 years 6 months ago

That’s the bid. How much they would be ready to invest, who knows? Big figures were discussed in the latest interview.
A golden opportunity for M&M to make their move to grab Saab imho.

CSD_ChineseSaabDriver
Member
4 years 6 months ago

In regards to SAAB, Youngman has been SINCERE. Thumb Up.

They have the heart for Saab, the faith for Saab, and hopefully a huge Chinese market for Saab.

saabserb
Member
4 years 6 months ago

IMHO we can all just forget BMW and concentrate on two bids: YM and M&M. So China vs India. BMW is kind of wish come true but also “too good to be true”. Even if BMW is interested it is probably only in production capacity and maybe Phoenix platform.
Swade on his blog says that YM is equal to disaster. He would rather keep memories than having SAAB owned by YM. Pretty tough but it comes from an insider, so I don’t have any reason to not believe.
So for me the only hope now is Mahindra! Go India!

CSD_ChineseSaabDriver
Member
4 years 6 months ago

Then who is Swade, YM would say.

MM might only placed a bid on Saab parts.

Red J
Member
4 years 6 months ago

CSD,
stop the “mights”, OK?

CSD_ChineseSaabDriver
Member
4 years 6 months ago

Sorry I based my statement on the very simple logic:

MM has no plan to keep Saab factory running for 3 years without producing GM Saabs.

Donald Munro
Member
4 years 6 months ago

and don’t “dis” the Swade, OK?

CSD_ChineseSaabDriver
Member
4 years 6 months ago

Swade has NO right do dis YM.

YM does not hate Swade, why Swade hates YM. Get a life.

Donald Munro
Member
4 years 6 months ago

I have a life. Thanks to SAAB. Regards from Scotland.

CSD_ChineseSaabDriver
Member
4 years 6 months ago

Sorry I didn’t say that to you ..

davidzgy
Member
4 years 6 months ago

Looks like people here in the saabsunited are not that interested in topics related to YM…it’s more like YM’s fault to buy Saab…
Anyway, we should support all the bidders if we still love Saab.

Sockmonkey
Member
4 years 6 months ago
My understanding is that unless YM has NDRC approval already (and there is zero indication that this has occurred), there can be no completed sale. YM is a bus manufacturer with little experience in making cars, and in the case that the current Saab suppliers do not want to sell to the new owners, there will be many problems with sourcing. For this and other reasons that have been brought up here, Youngman is my last choice to win the bid. Brightwell was an intriguing option that did not play out– I have been following and translating Brightwell news in… Read more »
CSD_ChineseSaabDriver
Member
4 years 6 months ago

The parts about YM are all wrong:

1. NDRC’s OK is not an issue at all. YM keeps constant communication with NDRC. It’s all business among Chinese, not an issue at all.

2. There was a delegation including the suppliers visiting YM in January, they are pretty happy with YM.

Donald Munro
Member
4 years 6 months ago

For me, now that BH are out of the game, it’s BMW. No disrespect, but quality parts bin! If they leave SAAB to their own devices for design etc, could prove to be a lucrative proposition for them, particularly in European markets.

wishihadasaab
Member
4 years 6 months ago

Youngman has NDRC approval,sort of. The ceo for youngman is also a politician. He has his okay. He keeps in contact constantly. He has disclosed this in a few interviews. I cannot judge a company based on some one elses opinion. I choose to vote for the winner. Whoever wants SAAB bad enough will get SAAB. That is how I measure loyalty to the brand.

CSD_ChineseSaabDriver
Member
4 years 6 months ago
I know I am “hated” somewho on SU for one or another reason. I said BH was only a tool to make the bids hot, now BH is gone, my word becomes true. I said MM has no plan and no chance to get Saab and MARK MY WORDS MM will be gone in a few days SUPPOSE they did place a bid (and if a bid IMO it’s not for the whole thing just parts like Volvo and Baic did). The reason is very simple, MM does not have a HOME MARKET to feed Saab, India’s personal car market… Read more »
ArchDandy
Member
4 years 6 months ago

+1

saabyurk
Member
4 years 6 months ago

I hope you are right in all you say about YM. They have shown a lot of perseverance so far and they are the only one I am sure will not give up.

wishihadasaab
Member
4 years 6 months ago

Your logic seems sound. BH did have VM on their side. It could have been a ploy. M&M could just be weighing their options. BMW is an unconfirmed rumor. Youngman is interested and has made that a point. They have also put their money where their mouth is. I want someone to buy. I don’t care who just show us that you are crazy for SAAB like we are.

Jesse Crandle
Member
4 years 6 months ago
CSD we don’t hate you here! We all have our own thoughts on the situation, and are generally pretty nervous and hoping for a good outcome. You being from China just means you’d like to see somebody from your home turf win the bid, there’s nothing wrong with that. The apprehentions most of us have about Youngman winning is that they might try and move the production to China, or just take the intellectual property left that Saab has and shut down the Swedish plant and move all production to China to only benefit China. The odds of them doing… Read more »
Baver
Member
4 years 6 months ago

Jesse, Lotus is not where you want to take this conversation. Youngman’s relationship with Lotus’s owner, Proton of Malaysia is strained at best.

Baver
Member
4 years 6 months ago

Also, while I believe many are happy that someone is interested in Saab, the fact that this particular company comes from a country who professes to be “communist” is a HUGE turn off for many. This isn’t being racist, it is that China’s political and worker’s culture is so radically different from the typical Saabist’s way of thinking, that this whole endeavor is a bitter pill to swallow. Having said that, if Youngman is the “winner”, I wish them the best and hope they genuinely care about making Saab, Saab again.

Katsura
Member
4 years 6 months ago

Yah just look to how great Capitalism has landed the west…

Chris Carrier
Member
4 years 6 months ago

What do you mean?

davidgmills
Member
4 years 6 months ago

Volvo is sucking badly in the US. It only sold 4461 vehicles in January 2012 in the US. At that rate, Volvo will be gone from the US in a few years. In comparison, GM sold 167,962, Ford 136,294, and Chrysler 101,149. As I have said all along, Chinese owned cars will not sell in the US.

http://www.motorintelligence.com/m_frameset.html

If Saab goes to the Chinese, it is gone from the US market.

Baver
Member
4 years 6 months ago

Why is Volvo advertising now on US television that they are the fastest growing luxury brand in the US then?

Paul
Member
4 years 6 months ago

“fastest growing” does not mean much… If you are at the bottom of the car sales pool and you own 5% of the market and you double to 10% in one year…. you are up 100%…. Hard to use those “growing” numbers if you are a Lexus or BMW…..

davidgmills
Member
4 years 6 months ago

Certainly wasn’t the month of January. Volvo sales were up 4.3% and Jaguar/Land Rover’s sales were up 30.7% from January a year ago. Daimler up 23% and Audi 19.7%. BMW up only 5.8%.

davidgmills
Member
4 years 6 months ago

What is interesting in this data is the the US is still the land of the truck with about half the vehicles sold being trucks.

TurboLover
Member
4 years 6 months ago

Hated? I believe you are one of the most interesting writers here. doesn’t mean I agree to all you got to say.

Jesse Crandle
Member
4 years 6 months ago
Ok well obviously being nice to CSD didn’t work out so well. If you guys don’t like the sugar coating, I mean “upbeat attitude” this site is normally known for I’ll give it to you straight. I’m a very opinionated, but I try to have a certain level of civility in my writing, and it would appear since BH pulled out of the race the attitude of the commenters has gone downhill. The only reason I’d ever in a million years wish China to own Saab is if I thought it was the only way humanly possible. I think China… Read more »
davidgmills
Member
4 years 6 months ago
You are not hated. It is just that many of us disagree with you. For those dealers and owners who have invested years and vast sums of money with Saab, many feel that a Youngman ownership would be the demise of our investments and our ability to purchase future Saabs. A Youngman ownership would place precedence on the Chinese market, understandably so. But a Youngman ownership would mean that many of us would no longer have the attention of Saab. VM didn’t give the US market near enough attention. Youngman would give it even less.
Angelo V.
Member
4 years 6 months ago

But if it’s Youngman or no Saab at all—-my vote is for Youngman.

dezzer
Member
4 years 6 months ago

CSD…Man up

Eric
Member
4 years 6 months ago

I rather have another party get Saab that will produce Saab cars than Youngman get them, but if they get them in the end, so be it.
BMW would be the best choice as they wouldn’t need any licensing from GM & just work on new Saabs on the Phoenix platform to come out in 3-4yrs.

Katsura
Member
4 years 6 months ago

Err, be a bit more culturally sensitive? Chinese names go with Surname first, So with Pang Qingnian, Pang is the family name. Hence Mr.Pang, NOT Mr.Qingnian.

It would be like calling VM Mr. Victor.

ivo 71
Member
4 years 6 months ago

We sometimes even call VM Victor, without the Mr. He doesn’t seem to have been offended by that. But you are right, of course. It’s either mr. Pang or just Qingnian. But if he saves Saab, I’ll always refer to him as Mr. Pang. Or maybe even Lord Pang, General Pang, Chairman Pang or whatever he prefers to be called.

Ivo

David-SAAB
Member
4 years 6 months ago

…HRH?

ivo 71
Member
4 years 6 months ago

That, too. Or His Majesty, even.

Ivo

davidgmills
Member
4 years 6 months ago

Every time I hear a bidder complaining about the process, or someone in the process, it is not too long before they drop out. Complaining seems to be a bad sign.

TurboLover
Member
4 years 6 months ago

Was that a complain?

100%Saab
Member
4 years 6 months ago

My wife had a great quote this evening concerning VM and Saab. “You can’t turn a battleship around in a bathtub.” Meaning maybe the job was just not doable. At least he tried.

Just a thought.

Angelo V.
Member
4 years 6 months ago

Yes, you can turn a battleship around in a bathtub. It’s very difficult and expensive, but it can be done. You have to disassemble the battleship and then reassemble it, facing in the other direction. I think this analogy is right on target—your wife was right and so am I. You need to think out of the box sometimes—-and Saab hasn’t been doing enough of that since the 1980s, regardless of the owner.

ahlis
Member
4 years 6 months ago

Does anyone in here know if YMs bid includes Saab Parts ?
if not the bid is fair, if they include it then .. they might need to rethink..

wpDiscuz