Wait and see…

Last Friday we got to know a bit about Youngman’s meeting with the receivers. As Johan Nylén, the lawyer they are working with, told ttela.se over the weekend that those meetings were “very positive”. Again, he confirmed that Youngman has the nessesary funding in place – something that I’d expect from any party that has reached this stage of the process.

Over this week there will most likely be meetings with other parties who seriously showed their interest in buying the complete Saab package. There has been a number of 6-7 parties mentioned so with Brightwell backing out we should be at five still in the process. Not much has surfaced on who those parties are. I’d expect Mahindra & Mahindra and that consortium containing the car manufacturer from Europe to be still there. Others that have been mentioned were BAIC and some Swedish consortium.

It has been said that the indicative bids already showed how eager the respective party is to acquire Saab. Youngman have put something on the table that does not look too low, at least from our view. I has to be seen if anything will surface from other parties during the week but I tend to doubt it. Mahindra will stay by their style of keeping the head down and work. For that european car manufacturer – they did not even disclose their identity so I don’t really expect them to send us a copy of their bid now.

So – again – we lean back and enjoy the ride. Grab your last bit of patience and use it. It has been said that the receivers have a goal to get this done by the end of March so let’s hope they can work it out by then.

Troels, Denmark
Member
4 years 6 months ago

As always from you, Till, sensible and calming words..
I just hope for a solution where real Saab-cars will be produced in Trollhättan again..

Coke is it
Member
4 years 6 months ago

I have been waiting almost one year for the production to restart… I think I can wait a couple of more weeks. Is it just me but isn’t the deadline for the next big good thing always a couple of weeks ahead in time regardless when this “big” announcement is to happen 😉

Anyway, may the best bid win! And by that I mean production of real Saab cars again. 🙂

Angelo V.
Member
4 years 6 months ago
Truly, you are right. “Two weeks” is what I’ve been hearing and frankly, what I’ve been saying. Here we go again—-I do think this needs to wrap up before the end of March—-I really do think that—-if it goes much past mid-March, it makes things that much harder. Dealers are deciding whether to get out of leases. Dealers are deciding whether to let people go. Dealers are deciding what to do—-dissolving. I know they aren’t going to have new cars to sell for a long time. But if they at least know of a sale and a plan, they could… Read more »
TonymacUK
Member
4 years 6 months ago

So do I – but given the massive price increases for Hirsch products, I hope they are not involved in any interior upgrades!

Rolf Hägg
Guest
4 years 6 months ago

Increase? how much higher can they go? Their prices are already outrageous!

Bullnose
Member
4 years 6 months ago
It will be interesting to see just how the receivers handle the bidding process. If what was for sale was absolutely clear, then you can imagine a tendering process where the highest bidder wins. However, in the murkier world of being able to bid for different parts of SAAB and maybe take on certain losses/ employees etc it wont be so straight forward, and the process may ultimately involve disclosing a final bid and what’s included, and then going back to everyone still in the process to see whether anyone wants to increase their bid to better that ‘final’ bid.… Read more »
hans h
Member
4 years 6 months ago

I think this is the important part:
“Grab your last bit of patience and use it.”

I really am on the final stretch of patience. Please, please, let this work out…

/Hans H

alwaysSaab
Member
4 years 6 months ago

The faster the deal can be completed, the better it will be for Saab and the workers and engineers that are still looking around for jobs. I also hope that option should be opened for those staff and workers who have joined other institutions to return if so desired.

RS
Member
4 years 6 months ago

Yes. They must first of all hire enough of them still out there and then have ammunition (money) to get back those who are vital in making Saab-Saabs again. Although companies like LeanNova will be of great help.
The Saab DNA is between the ears of people. Not found in books or something to be absorbed overnight from going through computer files.
It takes decades to truly learn how to do something exceptionally well.

alwaysSaab
Member
4 years 6 months ago

Yes, not forgetting the numerous parts suppliers and logistical considerations etc and all these must be on the same page before the plant can start rolling. May be I am a little optimistic here at this point in time that a solution is definitely coming?

xelav
Member
4 years 6 months ago

Well, so another month, thought it was the end of February . Pisses me off. Let there be an ending, please?

Carmania
Member
4 years 6 months ago

It’s ironic that the biggest threat to SAABs restart is Swedish – Volvo/Geely who want to buy the factory and move it to China. It’s seems to be a good fit to Volvo/Geely and that means they are willing to put up quite much money to get it. What would it cost to set up a car manufacturing facility such as the one in Trollhätttan? A wild guess is probably well north of 10 million SEK (?).

RS
Member
4 years 6 months ago

Yes. V makes a lot of money from not having Saab around. Just think how many more V70’s they’ve sold during the time there were not 9-5 SC’s, or Saabs image started to crumble big time. It’s been a feast for 3 years now.

StefanH STHLM
Member
4 years 6 months ago

Irony. Big Yes.
The anxiety over a foreign take over always reveals it self in times like this.
As so often it is probably exaggerated, and the real threat comes from within….. 😉

Carmania
Member
4 years 6 months ago

I meant north of 10 billion SEK of course – sorry! But how much is Vol*o willing to pay?

Snowshoe
Member
4 years 6 months ago

But the cost of setting up is not the same as saying that there is a value of this for Volvo.
Of the amount you are guessing, how much is effort and how much is gadgets. And there might not be a perfect fit either.
Then there is the effort of taking it apart and shipping it.

Gadgets – (cost of documenting taking apart and shipping) – not needed stuff = value for Geely
Compare to purchase what you need.

Carmania
Member
4 years 6 months ago

Yes, of course, Volvo will only pay for the value of the gadgets minus depreciation, minus cost of moving it to China, minus the stuff they don’t need, minus a margin to make it a good dal for them. The big question is how much that sums up to? Will it be more or less than other bidders (that want to build SAABs in Trollhättan) are willing to pay?

Angelo V.
Member
4 years 6 months ago

Bad for Sweden in the long run. If the perception is that somehow, Volvo was propped up/favored and that lead to the final closing of Saab—-I know more than a few buyers who will cross Volvo off their list, the same way they are crossing GM off their list. Not good for Swedish makes.

David-SAAB
Member
4 years 6 months ago

………and wait. What choice do we have? I can say one thing though, it’s worth the wait if it means Saab is back in business.

Sergio
Member
4 years 6 months ago

Ill keep this comment short 🙂 good summation again Till! Its the home stretch ladies and gents, I can see a 9-1x at the end of the tunnel!!

jond
Member
4 years 6 months ago

Patience will be required for far longer than the wait to see who the successful bidder is. What will be the strategic direction for the brand? What models will they introduce? Will they reinstate my warranty as a measure of goodwill?

This is all actually rather exciting. YM is clearly very serious and enthusiastic. But they may be beaten by another bidder even more so. i.e. it’s going to be really good or even better. Hold on to your seats!

saabserb
Member
4 years 6 months ago

In the latest interview for TV4 and TTELA (http://ttela.se/ekonomi/saab/1.1550296–vi-vill-tillverka-lotus-i-trollhattan-), Mr. Pang doesn’t mention SAAB 9-3, just producing Lotus models. Few questions here:

1. Does it mean that Youngman has given up producing SAAB cars until the new 9-3 arrives?
2. Are the “Lotus cars” mentioned here real Lotus sport cars or Youngman personal cars, developed by Lotus?

Interesting interview indeed, probably answered by Mr. Pang in rush, so it might be incorrect. But it might indicate that there won’t be easy for anyone to get the current 9-3 back into the production.

TurboLamko
Member
4 years 6 months ago

No, they want to also make Lotus so there won’t be empty factories because of the loss of the 9-5

Red J
Member
4 years 6 months ago

I’m not Mr Pang, but this is my educated guess.
When Mr. pang talks about Lotus he talks about the Youngman cars designed by Lotus, and regarding the 9-3. Mr Nylen, the Swedish lawyer of Youngman, says the GM should not be a “big issue”. So there may still be some issues on the 9-3 production. But it could also mean that the current 9-3 is used to introduce the brand in Europe while the re-introduction of the Saab brand would be 1-2 years later with phoenix based products.

But this is only my private thought about it without no extra insight.

hans h
Member
4 years 6 months ago

As far as I know, Lotus is owned by Malaysian corporation Proton.
The Lotuses (Lotii?) produced in China by YoungMan are something else.

But what do I know. It could just as well be the Formula One Lotus cars. 😉

Please restart the factory – I want to hit the naysayers with some good news soon.

lilly1234
Member
4 years 6 months ago

As a salesman for Saab for 35 years I hope this can get done. My boss says no way and I keep saying it will happen. I am still selling Saabs ( wish I was selling more) and Cadillacs (not my first choice) puts food on the table. My 2001 Saab vert needs 5th bow switch to work right hope they get the parts up and running fully too. Keep the HOPE!

dezzer
Member
4 years 6 months ago

good on you mate

95saabowneruk
Member
4 years 6 months ago
I am getting more inclined to a Youngman or Mahindra victory. I think these might be better than a BMW (if it is them!) bid. I just think that Saab could be back to the GM situation with BMW. No doubt much better than GM as a owner but still the same in the sense that they would be a cog in much bigger wheel. Saab, I feel, would be much more important in companies like Youngman or Mahindra and they would be closer to being an independent company. BTW I did think Renault would have been interested. I think… Read more »
95saabowneruk
Member
4 years 6 months ago

Oh an Renault have a history with Turbo’s as well.

Angelo V.
Member
4 years 6 months ago

The one thing I’ll say about BMW is Rover not withstanding—-I think they are more driven to succeed than GM is. GM considers losses and humiliation part of business—-they’re beggars. BMW seems to have a lot more corporate pride and are much more deliberate in how they approach these things than GM is. I don’t think BMW expects to have a multi-billion dollar backstop like the U.S. Government was for failed GM. But I love the idea of Mahindra and I do believe Youngman would work hard to make a go of this too.

johna
Member
4 years 6 months ago

I hate to inject a sour grapes note into this conversation but I pulled for Vladimir Antonov’s bid for years and would feel remiss if I did not post/paste this (from just-auto):

SWEDEN: Antonov aide slams Swedish government taking China “dictatorship” money, but refusing Russian cash

5 March 2012

Potential Saab investor Vladimir Antonov’s former aide has launched a broadside at the Swedish government contrasting its apparent willingness to receive investment from a “dictatorship” in China to its perceived lack of interest in the Trollhattan automaker.

Keith
Member
4 years 6 months ago

Given that it now appears Antonov’s money would have come from bank embezzlement, it is hard to feel he was “wronged”.

Angelo V.
Member
4 years 6 months ago

I agree. This is an apples and oranges argument if ever I’ve heard one. One thing has nothing to do with the other.

saabfanatic
Member
4 years 6 months ago

I had no idea that VA is persuing a carrier in Human Rights issues! Wasn’t he arrested over allegations of serious fraud?

spacy
Guest
4 years 6 months ago

.
On suspension of………………

spacy
Guest
4 years 6 months ago

On suspicion of, of course………..!!

Turbo9000
Member
4 years 6 months ago

End of February, end of March….
better be prepared for end of 2012 I guess..
Let’s hope the waiting will eventually be rewarded with a GM-free, reborn Saab.

Kyle Hudson
Member
4 years 6 months ago

One can hope my friend.

Bobberone
Member
4 years 6 months ago

I am completely tired of this delaying. One year has passed since we heard the words “the end of the week, the end of the month……”
I understand that these processes need time, but I think we lost a huge amount of time in april-december.
I (and I guess a lot of saab fans) am in need of changing my saab (8 years): how can I buy a new one or just risk to buy another one?
Volvo is a sure choice, even if not my favourite one…

Boogee
Member
4 years 6 months ago

It doesn’t matter when, how and who. The point is with success and with owner who do not waste a hope, tradition and style.

Steve C.
Member
4 years 6 months ago
I had the same reaction to the “end of March” after SU set the expectation voiced by the receivers for the end of February. But I suspect the end of February was the bidding deadline as it turned out to be. Given the complexities and the number of serious bids, the expanded timeframe does make sense. As to being on schedule, I made a note of a document the receivers created right when bankruptcy was declared that scheduled an Oath Administration Meeting for April 16, 2012 at 10 AM. As I recall, this is when the value of the assets… Read more »
wishihadasaab
Member
4 years 6 months ago

Is there going to be a weekly press conference? If so, when? I know we are heading towards the home stretch but the hurry up and wait mentality is testing y patience everyday I go without reliable- unbias news…..

Baver
Member
4 years 6 months ago

This was posted on another thread. Very interesting…. Tata AND Mahindra????

http://www.indianexpress.com/news/tata-motors-bids-for-ailing-saab/920577/

Angelo V.
Member
4 years 6 months ago
To clarify on the “growing increasingly impatient” mentality that I have, and I see many others have: I can be the most patient person in the world—-but in this case, we’re looking at two steps here: Step one is a buyer that insures that Saab will survive and Saab branded cars will roll off assembly lines at some point in the future—-likely a year at least, up to three years away (frankly, I’d love to see model year 2014 cars). This first stage has caused me to lose my patience, because I am coginzant that we’re beyond the breaking point… Read more »
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