Final bid on Saab before the end of March

According to P4-West and ttela.se the receivers have sent a letter to the different companies that have expressed interest for Saab. In that letter the receivers have stated that a final bid has to be made before the end of March, and the deal should be completed before April 30.

On a personal note, I think we will see a final candidate in April but the final signature could need one or two weeks longer.

TurboLover
Member
4 years 6 months ago

Red! Does choise of buyer = done deal, or could we know the buyer before the deal is 100% ready?

aerocab
Member
4 years 6 months ago

This process and the time it’s taking will finally kill off Saab for ever much more surely than GM!
Every saab dealer I know has already or is about to sign up with a new franchise, potential customers will have lost all confidence, Trollthattan workers will have dispersed and the Phoenix team are already now all over the world. Soon all there will be for any buyer will be the saab name very devalued!

bpsorrel
Member
4 years 6 months ago

I think it’s true to say that whoever ends up buying whatever is left of Saab will have a very, very uphill struggle. Such a shame…

Some positive news is needed fast. I was talking to one of the last trully hopeful dealer managers the other day who admitted to me that his dealership owner is looking to take on a Volvo franchise now as they just cannot hold out on just used Saab sales and occasional servicing. This is a very sad story indeed.

Thylmuc
Member
4 years 6 months ago

Who needs dealer? Apple doesn’t. (well, they still have 🙂

Maybe time for new strategies here as well. Mobile teams could replace dealers. Test drives could be arranged via internet, and cars be delivered at any place. Sold cars could be picked up in Trollhättan (funny), the national agencies (cheaper) or at home (convenient).

Better support from Saab’s side for independent garages could help as well, as could mobile repair stations on lorries, etc.

Angelo V.
Member
4 years 6 months ago
Pie in the sky. A bankrupt car maker trying launch a comeback couldn’t possibly take on the additional longshot odds of trying to remake how cars are sold. No, they’re going to need tranditional dealers—-as big a dealer network as possible (as not having enough dealers in enough places put them at a competitive disadvantage to begin with). Trying to salvage some of the terrific dealers that have hung in their so many years, through it wall, was a very important part of restarting this company. The time involved in deciding this has crippled Saab and their new owner terribly.… Read more »
Tim Sinclair
Member
4 years 6 months ago

I do agree that the length of time this process is taking is very problematic. But this was true when SAAB was designing and selling cars too. Very, very slow. A former student of mine, a Swede, explained to me that all decisions in Swedish companies take forever. In his view it is a major cultural liability. I think it helped to bankrupt SAAB.

davidgmills
Member
4 years 6 months ago

This is to be totally expected. Bankruptcies take lots of time. I said at the get go that if Saab emerged from bankruptcy in six months that would be about the best we could hope for.

spacy
Guest
4 years 6 months ago

I agree….

Tim Sinclair
Member
4 years 6 months ago

I totally agree. Move beyond dealers.Look at the liability these have been for the big US automakers in the last few years. If SAAB does not make new cars for two or three years start with a fresh sales model. Change the game.

E
Member
4 years 6 months ago
I don’t think you just abandon the dealers that have ridden this out. When you do a restart, you keep those loyal dealerships and supplement them with this “Apple model” you all are discussing. I can still see and test drive Apple products at an Apple store in a local mall … why can’t I see and test drive a Saab before I buy one at my loyal (semi-local) dealership. (Heck, even Microsoft is setting up Microsoft stores in some choice malls where you can test drive their products.) At a minimum, you need these loyal dealerships wherever they remain… Read more »
saabdealer
Member
4 years 6 months ago
This is probably the dumbest thing I have heard on SU in some time. Liability to manufacturers? Are you nuts? Tell that to the ~200 NA dealers that got screwed by Saab. If it wasn’t for the dealers, Saab drivers would be even more screwed than you are now. At least the ones that are still open are trying to ease the pain to the best of their ability. If you think a manufacturer can exist without dealers, you’re out of touch. 1. Trade ins – Who handles that? A computer? Good luck. 2. Service – Who handles that? A… Read more »
Angelo V.
Member
4 years 6 months ago

Dealer: Thank you for saying it better than I ever could. Saabs always “closed the deal” with a test drive. That’s how I ended up in one. We were almost certain we’d buy a Volvo—-but just to satisfy ourselves, took a look at a Saab—-and signed on the spot.

Andy Rupert
Member
4 years 6 months ago

I work at a Volvo/Mercedes-Benz dealership in the US and agree with your comment. While I have sold cars sight unseen, the vast majority of customers want to deal with a friendly salesman, want to physically see and drive the car, and want to have a service adviser to talk with when problems occur. It’s the personal touch that keeps many people coming back to the brand. SAAB needs good dealerships to begin again.

Angelo V.
Member
4 years 6 months ago
Andy: Also, Saabs are unusual in how the cockpits are laid out, how features like “Night Panel” work, etc. When I purchased a Saab—-I counted on that Salesman to show my wife and I around the car—-to explain details to help us get the most enjoyment out of the vehicle—-and the salesman was great. As far as “selling” goes, he basically handed us the keys and didn’t even go on the test drive with us—-showed us a couple basic things and told us to take our time and enjoy the ride. We came back ready to buy (He says that… Read more »
Carmania
Member
4 years 6 months ago

Maybe SAAB should take the Apple analogy further? Who need a lot of models? Apple have one phone model, Nokia hundreds . . . still Apple bring in 75% of all profits in the cell phone market!!!

Maybe SAAB should put all their effort to make a super 9-3 that is so attractive it will sell itself, instead of making 4-5 mediocre models?

TonymacUK
Member
4 years 6 months ago

Daewoo tried that – Daewho?

michaelb
Member
4 years 6 months ago

Unfortunately, I have to agree with you. The dealer network will be virtually gone, and if there is no production for 1-2 years, it will be a complete restart. The only candidate, that makes sense to me, would be BMW, potentially in an alliance with somebody. All the others by renommee, technology, dealer network, access to GM licensing will imply, there will be a new carmaker, but not necessarily any more Saab. Or the company will be sold in pieces.

Quixcube
Member
4 years 6 months ago
I don’t see how this could be an issue. It doesn’t matter if it takes a week, a month, or a year now. There is nothing to sell and won’t be any time soon. Dealers hanging on should be looking for new revenue streams already. If they aren’t, start looking today. Does anyone really think a single brand Saab dealership can make it anytime before 2015 or so? What are they going to sell before then? Will service alone bring in enough to justify a dealership rather than a simpler multi-brand repair shop? Also, aren’t all dealership contracts null and… Read more »
Tilley
Member
4 years 6 months ago

I read the article and before reading the comments, I had similar thoughts unfortunately. This is taking way too long and all that will be left is the name. (Never thought I’d write that).

Angelo V.
Member
4 years 6 months ago

The name won’t even be there. It’ll be machinery, some real estate maybe—-parts. Is it itentional?

witek
Member
4 years 6 months ago

This is taking tooooooooooooo long. God damn it.
Wishing SAAB was in USA so it would be operating within a month or so. That what happen to a Mothertrucking GM. Mr Obama just print a money and boom, They back. It was a sad day. If no GM no trouble for SAAB in terms of who want to buy a company and make 9-3, 9-5 and 9-4x. Shame, shame!!!!

w.

Tim Sinclair
Member
4 years 6 months ago

This is how decisions are made in Sweden. Not rapidly.

clean_kirill
Member
4 years 6 months ago

It looks like the deal will not start until YM will get tired to death of useless waiting 🙂

100%Saab
Member
4 years 6 months ago

Same as last time – taking too long!

LarsG
Member
4 years 6 months ago
I believe that it will be big problems with dealers outside Sweden if it will take 2-3 years before the can sell new Saab. Many Swedish dealers have had and still have other brands, among others Opel, side by side with Saab. The solution can be if it becomes Youngman or Mahindra-Mahindra and those primarily in addition to the Swedish market concentrates on their own home market. It can of course be dealers in other countries than Sweden that has a similar solution that the dealers in Sweden and then it can be a little easier. Another alternative is if… Read more »
saabfanatic
Member
4 years 6 months ago

This leangthy process is killing everything – dealers/workers/customers/confidence/fans – you name it!
I’m affraid, they are dividing it into pieces and that’s why is taking way too long – hope I’m wrong though!

Angelo V.
Member
4 years 6 months ago

I hope you’re wrong. I fear you’re right. The announcement that finally emerges from this debacle might not be the glorious return we’ve all been waiting for. The sad part is, with a cooperative effort, a sense of urgency and a big push—-there’s no reason why this couldn’t have been accomplished, with new Saabs to be produced. Dragging it out has hampered the effort beyond belief.

spacy
Guest
4 years 6 months ago

I would hope the administrators will acknowledge the situation [sold in parts or as whole] as soon as the chosen buyer signs on the line.
At least that way, the dealers etc’ will know where they stand, even if the final hand over deal took another month or so….

MeanSabean
Member
4 years 6 months ago

Patience is the best remedy for every trouble.

TonymacUK
Member
4 years 6 months ago

Not in today`s world – everything moves so fast, especially in the motor industry.

michaelb
Member
4 years 6 months ago

We hear that since several years. And it has been so wrong. Unfortunately, dealers have to sell cars, being able to keep clients and render service and maintenance. Clients loose confidence, key people get jobs elsewhere, and R&D at other carmakers advances. Sorry, if a company is in a bankruptcy process, every single day counts.

Angelo V.
Member
4 years 6 months ago

Of course that isn’t true. Try patience for lifesaving heart or cancer surgery. Try patience if someone is about to be struck by a train and you have to push them to safety. Patience is destructive in this process, not good.

maanders
Member
4 years 6 months ago
While I wish it would go faster too, I am afraid that a bankruptcy sale this large with this level of complexity cannot be completed any faster. It would be nice, but anyone willing to spend the amount of money needed will not jump into this quickly (and then there are MANY contracts and details to work out). Will this be too long? Could be, but there is no other option at this point. The only hope we have is that whoever is approved to buy Saab has enough money, patience and long-range plan to stay the course as it… Read more »
Angelo V.
Member
4 years 6 months ago

Do a little research on bankruptcy situations—the caveat being that I’m familiar with U.S. bankruptcies—-Airlines and such—-that restart quickly and efficiently, minus the debt. Yes, this is more complex. No, that is not an excuse for how long it is being dragged out. Deadlines are amazing things. Nothing motivates people like a hard deadline and consequences if it isn’t met.

Alex740
Member
4 years 6 months ago
@ Angelo, you need to relax bud, you know nothing of what’s happening behind the closed doors and have no knowledge of the complexity of this situation. This is nothing like GM or the US Airlines who never shut down and kept operating during bankruptcy. Saab is DEAD, it needs a full revival to get restarted and to figure that out, deal with debts, find a new buyer, etc, takes a serious amount of time. Just like you, we all want Saab alive but you and others here need to put more rationality in your expectations of the situation.
SAABBob
Member
4 years 6 months ago

Well said, Alex.

Angelo V.
Member
4 years 6 months ago
It’s well said, but not necessarily accurate. What is a “serious amount of time?” Alex, collectively, haven’t they put in something 1500-1700 hours at this point? We DON’T know what is going on behind closed doors. That isn’t good, it’s bad. It’s bad for the future of Saab, which is slipping away every day. The Receivers are NOT in charge of restarting Saab. As I understand it, their task is to evaluate assets and debt and try to determine the best course of action of how to sell off what is left. Apparently, they take into consideration the good of… Read more »
JH
Member
4 years 6 months ago

May the best bid win!

Allan B
Member
4 years 6 months ago
We are all feeling the frustration, but we have to realise that a complex and delicate process like this is bound to take time. Apart from anything else, the administrators laid out a timetable at the start of the process and now they are sticking to it. No great surprise there. It is a shame to lose high-value people from any branch of the Saab business or its subsidiaries and partners, but on the other hand, what comes out of this should also be viewed as an opportunity for root-and-branch renewal and rebirth. Pheonix was a false start. Let’s hope… Read more »
GerritN
Member
4 years 6 months ago

Some of the commenters here start to sound like little kids; “I want it Daddy, and I want it NOW!”
Anyone who ever has tried to put even a simple contract in place knows that for deals like this you are not talking weeks but months if not a year.
Yes, it is sad that it takes so long, but please stop whining about it!

Angelo V.
Member
4 years 6 months ago
For my part—-I’m by no means yelling like a child, “I want it Daddy and I want it NOW!” In fact, when this process is over, it’s likely to make my next car buying experience less expensive—-as there is no other luxury brand (except maybe BMW) that I will consider—-and I would prefer FWD and a larger car that I can’t get from BMW at my price range. So I’ll end up going downmarket it seems, unless maybe Lincoln has a smaller sedan I like. In any case, my commentary is simply to say the length of the process is… Read more »
saabfanatic
Member
4 years 6 months ago

“Anyone who ever has tried to put even a simple contract in place knows that for deals like this you are not talking weeks but months if not a year”

LOL – good thing they didn’t invite you to this, otherwise we would’ve been in deep schizer!

Thanks for the advice though 🙂

alyeska2112
Member
4 years 6 months ago
I’ve become convinced of two things recently: 1) The thumbs up/thumbs down rating system is utterly arbitrary and pointless, and 2) Angelo is voicing what many of us are feeling. What is the point of buying Saab? Why are these companies interested in purchasing the whole company? If it’s to build Saabs, as we all hope it is, wouldn’t the interested parties be best served to – if not placate, at least appease – the very customer base that has kept Saab what it is, i.e., us? What other car company brand anywhere in the world, once bankrupt, has retained… Read more »
Angelo V.
Member
4 years 6 months ago
I think I’ve deduced that at the core of all of these discussions—-are varying degrees of what our “goals” really are. Saab’s suitors—-some have a goal of manufacturing Saab cars. Others want equipment. Most of us: The goal is to see someone make Saabs and sell them again. The goal of the Receivers? Tough one. This is one of those cases where what they say and what they are actually feeling might not be one in the same. The “right thing” to say is that they want to sell Saab as a whole, save jobs, etc. If they felt deeply… Read more »
Quixcube
Member
4 years 6 months ago
I wonder, what percentage of SU readers are actually Saab customers? I don’t mean “bought a Saab in the 80s or 90s” customers, or “bought a used Saab” customers, but customers who actually bought a Saab–this century–from a Saab dealer? Is the number of customers here really so high that the future owners of New Saab have an obligation to explain their actions to SU readers? Are SU readers really Saab’s future customer base? I honestly don’t think so. I think 6 months of good advertising–applied in a couple of years when Saab has products to sell again–will bring plenty… Read more »
Allan B
Member
4 years 6 months ago

I have indeed bought a Saab this century from a Saab main dealer, and I agree with every single word of what you have written Quixcube. If Saab build great cars again and get the marketing right this time … I am also sure that all will be well.

alyeska2112
Member
4 years 6 months ago
Quixcube, I get what you’re saying. And you’re probably right, the non-SU driving public can no doubt be eventually convinced to buy a New Saab. But why is any company even interested in buying a bankrupt, somewhat unknown, niche car manufacturer? I believe it’s because of fans like us. It’s because there are legions of irrationally loyal and vocal enthusisasts across the globe who campaign for this company, against all odds (and often, logic). Look at the auto brands that have fallen by the wayside in recent years: Rover, MG, Saturn, Oldsmobile, Plymouth, Mercury, Pontiac, Hummer… Does anyone give a… Read more »
Alex740
Member
4 years 6 months ago
A lot of whining behind keyboards here by people who have no knowledge of what’s actually happening behind closed doors or any real understanding the complexity of this situation and the time it takes to resolve properly. Saab is a dead company that hasn’t built a car in a year, this isn’t like GM or the US airlines that kept operating during their restructuring, this is dead company that the receivers are trying to revive, that’s not a small task. None of the dealers are waiting for Saab to come back, they are either closing or moving on to another… Read more »
Allan B
Member
4 years 6 months ago

“If the receivers are sending out a letter asking for bids, that means they didn’t get them from all the parties that they expected to, that’s not a good sign. ”

I don’t think it is a good sign or a bad sign. It’s just part of the process. As I understand it the admins have already received preliminary bids, now they want final bids. Those who are in the process are being notified of that, nothing more. I see no reason to read anything negative into it at all.

Alex740
Member
4 years 6 months ago

I think you are right, it could just simply be a last call notification to keep the process moving. I brought it as an example of how the receivers could be extending the process to help Saab to counterpoint all the negative comments here about how the lengthy process is killing the already dead Saab. As I said, in the end, none of us know why things are being done the way they are, anything more is just a guess.

E
Member
4 years 6 months ago

I think the companies had to place an “indicative” bid by end of Feb–to show an indication that they plan to make a fully detailed bid for the company. End of March, perhaps, would be when the final detailed bids are due from these companies? Anyway, that’s how I envision it going down and how I interptret that sentence.

Angelo V.
Member
4 years 6 months ago
Alex: You do a terrific job of strengthening my point. You’re absolutely right—we DON’T know what “is actually happening behind closed doors” and it’s killing what’s left of the company. Of course, some of us have inside information. Go to the homepage and find the entry about this week’s press conference. Toward the bottom, one of my comments has a behind the scenes look of what’s going on—-as well as a published lunch menu for the receivers for yesterday. I don’t know what they’re having today, but tomorrow is “casual Friday” and it will be mini cheeseburgers (organic wheat flour… Read more »
Alex740
Member
4 years 6 months ago
“killing what is left of the company”. There is nothing left. Saab is dead, the dealers are moving on, the employees are finding jobs at more stable companies and the customers are buying other cars. I’m sure a lot of dealers and former employees would love Saab to come back but no one with a business or a family to support is holding their breath for this because even if Saab does come back it will be months, if not years before cars are being sold again. If and when Saab restarts, it’s going to be a completely new company… Read more »
Angelo V.
Member
4 years 6 months ago
Have you spoken to any dealers? I have (in the U.S.). They aren’t giving up yet—-but I think they are feeling as though no news is bad news, not good news. Lack of communication is devastating when you’re trying to plan for the future—-months and years ahead. Is there a reason to take a small business loan to keep moving forward? Do we go to selling used cars and servicing Saabs, hopeful that we’ll have new ones in 2014? Do we keep certain positions active? Even a little glimmer of news would help some people plan. As far as “killing… Read more »
Angelo V.
Member
4 years 6 months ago

It’s hard to imagine that announcing an intended timeline would scare off any legitimate company. If the timeline was generous enough—-I’d be HAPPY to scare off a company not competent enough to put their attorneys and executive committee on this 16 hours a day to write a plan and develop a bid. Good riddance. In fact, I can argue that good bidders might get scared off if they see a process that doesn’t appear to be going anywhere—or that doesn’t have a definitive way of measuring who would be awarded the company as a whole.

Alex740
Member
4 years 6 months ago

Angelo, I respect your point of view and your undying dedication but we’ll just have to agree to disagree. A glimmer of hope when nothing is signed would be a completely irresponsible move on behalf of the recievers. Can you imagine if they gave hints to a deal and just as you state dealers take out loans, stay in a money loosing business longer or employees wait to be hired back only to find out that no deal materializes? I’m very happy they are keeping their mouths shut

Angelo V.
Member
4 years 6 months ago

Alex: It’s not hints of a deal I’m looking for—-just that there’s a CHANCE for a deal and a date we should KNOW something concrete by. How much are they being paid? How many hours have they put in? This is far from a crazy expectation—-in business, much more difficult tasks are handled better than this daily. Giving goals and projected dates for multi-billion dollar projects happens routinely—-after an analysis of a few weeks.

Angelo V.
Member
4 years 6 months ago
Here’s a question for everyone who talks about how complicated this process is and how some of us are being impatient: What do you think the Receivers are doing every day? I don’t mean that to be critical of them—-I’m just asking, what do you think their days are spent doing? Mostly reading? Reading and research? Conducting a lot of phone interviews and some in-person meetings? Checking financials through ratings agencies (I can do that from my computer—-takes about 15-20 minutes per company.). A good many of you defend this by saying that the impatient ones among us “have no… Read more »
dezzer
Member
4 years 6 months ago

agree with everything you say mate….feel like i’m stalking you !!!!

hilmar
Member
4 years 6 months ago

It´s too much of speculation here. None of us knows anything happening behind closed doors. So we should cool down. We are just a few very interested but unimportant people in this process. And whether we are excited or not, the issue takes its course. 😉

mp2dtw
Member
4 years 6 months ago

Absolutely. Let’s just hope that, in the end, those making the decision make the best decision. So we can all keep buying new Saabs rather than trying to find something else close to the value, performance and blend of sport and luxury we’ve come to expect. Every time I have to rent a car, I’m reminded of just how tremendous (even our GM) Saabs are.

That’s why I’m here every day; looking for hope.

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