A Sad Sight in NJ

I wanted to update any readers here who haven’t seen it elsewhere yet, several hundred Saabs are sitting in port waiting to be sold. Up until this point, they were waiting for a court decision on who was the rightful party who could sell them, and last week the court in Delaware sided with Ally Financial to let them manage the sale.

Over at foundourownroad, you can see the post Saabpocalyptic sight of the hundreds of cars sitting in the Newark port. There’s a bunch of 9-3s, many are Turbo4 XWD with dual exhaust, no 9-5 Aeros, mostly BioPowers (4-Cylinder). Some are sitting outside in the elements, some are inside a warehouse, but all are being exposed to the nasty sooty air along the water in NJ. There are even more in California and Georgia. I’ve driven past the Newark port when the 9-4xs were waiting to be shipped to dealers in more promising times, this is downright depressing.

I’ll have an actual interesting read up on the site soon related to the sale, but for now I’m going to keep quiet, just like the bankruptcy administrators. The situation for Saab is anything but ideal at this point, so we need to focus on the long term picture, while trying to minimize the short term sting.

kochje
Member
4 years 5 months ago

Unbelievable; just hope the court has no links to GM otherwise these will sit there till they become vintage cars.

Bob Conolty
Member
4 years 5 months ago

Yea, it would seem that gm has it in for SAAB.

Bryan Kazes
Member
4 years 5 months ago

I’m sure GM paid off the judge

Aero1
Member
4 years 5 months ago

Actually there are roughly 900- yes 900 SAAB’s sitting at US ports. Fun fact # 2 Ally Financial – was GMAC and was spun off before bankruptcy, and was financed by my and every other US citizen’s money. I believe GM will still be getting paid when these cars are sold.

GM is the root of all evil! My opinion.

Peter Gilbert
Member
4 years 5 months ago

Indeed, my sources also confirm similar numbers

Bryan Kazes
Member
4 years 5 months ago

Aero1 – you are dead on the money.

GM is finding every angle to f**k Saab over.

Chris Ivory
Member
4 years 5 months ago

Of course the court has links with GM. They are called the US Senate.

Katsura
Member
4 years 5 months ago

With only 3 days to go until end of March/ end of bid for Saab, this is the least of my worries.

Aero1
Member
4 years 5 months ago

Well it actually is a HUGE part of why SAAB is in the mess it’s in, if these cars get dumped on tthe market, which is at least 90% of what is going to happen it will not be good at all. GM will get paid, the dealers and creditors for SAAB USA will be roally screwed- Not my opinion, but fact.

Aero1
Member
4 years 5 months ago
History The company was renamed Ally Financial in 2010. It was founded in 1919 by General Motors Corporation as the General Motors Acceptance Corporation (GMAC) to be a provider of financing to automotive customers. Since then, the business has expanded to include insurance, online banking, mortgage operations, and commercial finance. In 1919, GMAC branches opened in Detroit, New York, Chicago, San Francisco, and Toronto.[4] In 1985, GMAC formed GMAC Mortgage after it acquired the mortgage loan operations of the Colonial Mortgage Service companies and the servicing arm of the former Norwest Mortgage, Inc. In subsequent years, the division acquired additional… Read more »
alwaysSaab
Member
4 years 5 months ago

I hope the Administrators of Saab is not sleeping this time. A quarter of 2012 is coming to an end and there is still dead silence from them as if they are still in hibernation awaiting for spring to come round.

Angelo V.
Member
4 years 5 months ago

Disappointing, isn’t it? As of right now, I’m considering it a failure until proven otherwise. They’ve failed—-unless they pull a rabbit out of the hat. Pathetic performance or I should say non performance. Leeches.

900_S
Member
4 years 5 months ago

Aww, poor little cars. Hopefully they’ll be released soon and off to good homes.

Keith
Member
4 years 5 months ago

The post is interesting… but these comments are in escapist delusion land. Ally Financial financed the cars, and their customer has gone bankrupt. If they deliver them to SCNA they won’t see a dime, sell them themselves and they will. How hard is this to comprehend?

Paul
Member
4 years 5 months ago

I am glad you made this clear…..Some how people let their emotions take the best of them.

wishihadasaab
Member
4 years 5 months ago

What’s the deal with the administrators neglecting to hold a press conference? Possibly waiting for news to report later this week?

Rolf Hägg
Guest
4 years 5 months ago

Don’t hold your breath.

3cyl
Member
4 years 5 months ago

Have they said anything meaningful in the press conferences they have held? Better that they wait until they have something to say.

saabman
Member
4 years 5 months ago
These cars are actually the subject of a lawsuit between SCNA and Ally. Ally is claiming them as collateral for loans, while Saab’s dealers fear that if they all enter the market at once they will seriously reduce the value of whatever Saabs remain in stock. So, SCNA would like to control how they are sold. They will also hurt the resale of any pre-owned Saabs (of similiar models) currently or in the market in the future. The one thing currently going for sales is the fact that few are available. With these 900 vehicles the market will be saturated… Read more »
saabman
Member
4 years 5 months ago

I missed the beginning of the post noting that Ally was awarded the right to sell the cars. Not a good outcome. But perhaps they can be sold as fleet cars?

3cyl
Member
4 years 5 months ago

Will Fleet buyers want to deal with the uncertainty that accompanies these cars? (I am not familiar with Fleet purchasing.)

Have some SAAB dealers been able to sell their inventories? If so, they might be interested in bidding. They know what they were able to sell their remaining cars for, so they would have an idea what the wholesale price should be for bidding purposes. On the other hand, maybe they would rather not restock at this point. Does anyone have any feel for this?

KoGa
Member
4 years 5 months ago

I would not mind if those would be sold to the general public. Hell I may even pick a 9-4x up and take back to Europe, they’re virtually non existent there.

jim
Member
4 years 5 months ago

My own concern is that these cars might be crushed rather than sold, for idiotic GM douchebaggery-related reasons.

JasonPowell
Member
4 years 5 months ago

Not even a possibility, Ally will want to get as much out of these cars as they possibly can and crushing them would not do this. Ally is not controlled by GM anymore an is run as it’s own company and floors Chrysler dealers as well as GM dealers and I believe even some Hyundai stores, I may be wrong on the last one but none the less, GM is only a part of their portfolio.

Aero1
Member
4 years 5 months ago

Not exactly ALLY is owned 73.8% by the US Treasury, next is Cerebus Capital Management (as evil as GM), next GM and some other invesors own ALLY.
The reasoning for SCNA wanting to sell the 950 SAAB’s was not only because they feel they can get the most for them, but also keeping the values from dimminshing when those cars are possibly dumped on the market and to help those remaining NA SAAB dealers by having them help with the sales.

JasonPowell
Member
4 years 5 months ago

Thanks for clarifying, still no possibility of them being crushed though as the value is higher in selling the cars. Ally sells car at every Adesa auction house in NA so I would assume that they will be smart to maximize their return and spread them out as they do this now sometimes when one auction is over stocked in certain models, rental car companies do this as well.

scand
Member
4 years 5 months ago

I thought that white plastic shipping protection was supposed to be removed no later than a certain time after install (40 days ?)

JasonPowell
Member
4 years 5 months ago

The only good I see in all of this is that if there are 9-4X’s in the mix, some of us Canadian dealers may be able to find some at the auctions. We had waited for ever for this great vehicle only to be told you won’t get it. If the prices are right, I will not be afraid to buy one.

KoGa
Member
4 years 5 months ago

You can usually find one or two on Ebay. Sure, you have to take it home but they’re cheap too…

jim
Member
4 years 5 months ago

Speaking of legal issues, I am not sure I see how Saab (?) can sell cars legally in the US at this point in time. It’s not just trivially easy to be certified to sell new cars in the US. Certain requirements have to be met. That is why I fear for these cars that haven’t even completed shipping from Saab. Glad nobody else is worried. Probably they are cleared into the US and Saab’s certificates for 2011 remain good. At least I hope so.

AeroDanny
Member
4 years 5 months ago

can’t wait for these to hit the market! I want a Turbo4 Premium with nav and if possible, cooled/ventilated seats. I haven’t seen any non Aero models with cooled/ventilated seats so I may have to get an Aero but would rather have the Turbo4 for economy. On another note, my 2006 9-3 Aero sedan hit 100,000 miles today on my way in to work. Naturally I snapped a before and after picture of the odometer. =)

LG Aero
Member
4 years 5 months ago
To clear up a few items: 1. The US regulations are applicable to these cars. However they key point is the date of manufacture. These Saabs were all type certified so there is no issue to sell these cars in the US. 2. Ally financial will offer these cars on an auction basis to car dealers that use Ally. That means a cross section of dealers , not just GM will be able to bid. Although it seems like a lot of vehicles remember between repos and lease turn ins, they auction literally 100’s of cars a day. If they… Read more »
3cyl
Member
4 years 5 months ago
If the auctions get opened up to all dealers,and you have some flexibility regarding options, you may be able to get a dealer to bid for you. I have bought a couple of cars this way. The dealer did not charge much for a fee because he was going to the auction anyway. In my case it was a used car dealer. (New car dealers probably wouldn’t be interested.) Note however that you may not be allowed to attend the auction and working out the finances requires mutual trust between you and the dealer, so this route is most likely… Read more »
AeroDanny
Member
4 years 5 months ago

thanks for the info on the ventilated seats! I didn’t think they were an option on the 4 but I was hopeful!

Atomicauto
Member
4 years 5 months ago

Who can we contact to find out when and where they are being auctioned and get in line to buy some?

aireeca
Member
4 years 5 months ago

Just a heads up, I’ll probably head back over Friday afternoon to see if the cars are still around. If anyone wants detailed shots of some part of the field, post it up in the thread over at http://www.foundourownroad.com and let me know.

Also, I’ve dug through all the court documents posted since the hearing almost a week ago and have found no sort of decision saying Ally can have custody of the cars. Maybe the courts will declare them toxic assets? They seem to like doing that these days.

Angelo V.
Member
4 years 5 months ago

Isn’t it bad for the mechanicals of the cars, the tires, etc., to be sitting like this? Fluids, batteries, etc.?

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