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by Swade

Saab has at least a month, and what the GM decisions means

December 2, 2009 in News

I’m trying to keep up with the news, but the truth is, you guys in comments are much faster :-)
The money quotes right now….
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Henrik picked this one up from the press conference:

I recognised the reporter who asked the question he´s Swedish. He asked if the deal has to be finished in 30 days, or if the evaluation is for 30 days, and the GM official answered that the evaluation is for 30 days, if there is a viable buyer, then it will be persued!
Deal has more than 30 days then!

That’s good confirmation of how we thought things might run. GM will look over the bids until the end of the month and if one is viable then it seems they’ll allow Saab to operate to a date when that deal can be concluded.
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David G Mills, who’s been an attorney for the last 32 years, summed up the encouragement we should all get from this decision, quite nicely:

This is standard language when a buyer is interested in what a seller has to sell. Obviously if there is more than one potential buyer, one potential buyer should not be able to find out what kinds of offers the other potential buyers are making.
This is quite positive. I take all of this to mean that GM found the potential buyers to be quite serious, financially credible, and quite capable of making a genuine, serious offer to purchase Saab in the very near future.
Obviously GM and its board of directors must do what is in GM’s best financial interest. If GM will lose less money on the sale of Saab than it will in closing down Saab, the board owes a duty to GM to go forward with the sale. If GM can actually cover its losses and actually make a profit on the sale of Saab, then there is no question a sale will go through.
The board is duty bound to the GM shareholders to look at any offer that is legitimate and that would work out to GM’s benefit. This is especially true because of GM’s bankruptcy.
I figured an extension of the decision to sell or close Saab would occur if the buyers were at all serious, financially credible, and capable lessening GM’s loss on Saab.

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If I might add my own 2 cents here…..
This is a major, major turnaround from the GM board. Do not underestimate what’s happened today.
Word via Djup Strupe is that GM previously, some time back in October, had a clear plan internally that if something happened to the Koenigsegg bid, then Saab was toast.
This decision is a credit to Jan-Ake Jonsson for his presentation, a credit to joran Hagglund for his engagement, and most of all, a credit to one or more bidders who have presented sale scenarios that made the GM Board sit up and think.
——
Thanks for your contributions………

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by Swade

Djup Strupe: BAIC still hanging around in Trollhattan

December 1, 2009 in News

And I wasn’t supposed to do any more writing for another 24 hours……pffft
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As regulars here will already know, Djup Strupe is a multi-headed monster of inside information and with things going haywire at Saab right now, there’s plenty to see.
I’ve just received another piece of Djup Strupery and it’s most interesting in the light of recent comments made by Wang Zadong, the head of BAIC.
It’s public knowledge that BAIC intended to be a minority shareholder in the Koenigsegg Group, having pledged to take what could have been up to a 20% stake in the new ownership group when it got established. A few weeks ago we learned that part of that deal included the possible transfer of the outgoing Saab 9-5 and the Saab 9-3 (pre-2006) to BAIC for manufacture in China, for the Chinese market.
It should be no surprise, then, that people from BAIC have been in Trollhattan preparing for this transfer.
What’s interesting now, however, is that since the Koenigsegg Group pulled out of the Saab deal, the people from BAIC have still been seen by Djup Strupe, working intensely in Sweden with regards to these models.
It’s considered likely from Djup Strupe’s observations and perspective that BAIC are still working directly with Saab on this transfer, which theoretically could give Saab a funding boost to help with extending the time they’ll have available before needing to transfer to a new ownership group.
This would seem to fit with Zadong’s comments.
They don’t need a factory. They don’t need more robots. Figure it out.
My take from Djup Strupe’s observations: What they’ve been after is models for expansion both domestically and internationally. They can read the writing on the wall and know they’re probably not going to get new technology from General Motors in the form of a full Saab acquisition, but they at least want to secure the semi-modern technology that was until so recently within their grasp.
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Late mail.
I also have it on good authority that the Merbanco group from Wyoming “would be pleased to chat” with Mr. Fabela and Koenigsegg if they get hold of Saab.
I gotta get some sleep….

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by Swade

A look at the state of play with Saab

November 23, 2009 in News

We’re on the cusp…… so here’s a little official and non-official info to start the week.
The deal
The word out of Sweden is that Koenigsegg Group and Saab are all ready to go. Everything is prepared for immediate startup once they get the nod. What we’re waiting for now is approval from Europe with regards to the ruling on state aid, and then the final EIB loan guarantees from the Swedish government. Every indication so far is that the government will give their support, so it’s just the EU we’re waiting for now.
A whisper has come through from elsewhere in Europe hinting at December 1 or 2 as a possible date for the EU approval. I have nothing to substantiate this, but Saab Cars North America using November 30 as a deadline for cancelled dealerships indicates that maybe my source has heard the same things they have.
Beijing Automotive
Part of that deal coming off is Beijing being included and one of the obstacles to that is GM being OK with their inclusion. Sure, GM may be dealing with Koenigsegg and not Beijing directly, but you can bet your bottom dollar they’d find a way to shimmy out of things if they felt too much tech was flowing somewhere they didn’t want it to go.
Indications from Sweden are that that side of the deal is all stitched up, too, with clear limitations as to what can be used by BAIC in the future.
The plans to remanufacture previous Saab models look like going ahead, with the outgoing Saab 9-5 and the pre-2006 Saab 9-3 (no, that’s not a typo) both being candidates for manufacture there. The level of modification or re-design that would take place is not known.
The dealerships
This has been the big issue of the last week in the US and will possibly continue to be prominent in the next week or two. Losing one third of your major market dealer population is no easy proposition and whilst a handful of those dealers will shrug it off, there are a number of very sad dealers and customers in various parts of the US right now.
It’s my understanding that appeals will be considered early this week, so we may hear some good news by the weekend.
It’s also come through to me that the total number of remaining outlets – given at 137 at this point – could comprise both dealerships as well as service-only outlets.
There was news in the Canadian market last week, too, which is encouraging. I’m expecting some news about the Australian situation in the next week or two. It’ll be very interesting to see what happens here in Oz, as the impression I get is that many Holden dealers that received Saab took it on because they were told to, not necessarily because they wanted to. It’s not the case everywhere, but let’s just say It’ll be interesting to see where Saabs are sold here in my little home city in six months from now. That goes for a few others, too.
The cars – 9-5
The date I keep hearing about in terms of widespread availability is April 2010. I’ve heard dribblings of information about earlier dates for some European markets, but April is the one that keeps popping up in relation to the US. We here in the antipodes will probably have a month or so longer than that to wait.
The cars – 9-3
Production will likely gear up as soon as the deal is done so that they can start pumping out 2010 models and get them to markets around the world. Dealers need these like they need air to breathe.
Several people have indicated that Saab are going to cease the incentive offers which might be likely for 2010 models onwards, but I have a hard time seeing them clear 2009 model 9-3s without big deals.
(btw……I think the whole no-incentives thing is good, but it makes me wonder about combined GM dealerships, which will likely be offering incentives on their Caddys, etc, on a rolling basis)
There’s even been unconfirmed indications that prices will go up, which I hope means that they’re going to jack up the equipment levels in the 9-3, in line with the premium segment they’re aspiring to. Hirsch leather interior as standard, anyone? I wish.
The cars – 9-4x
Whispers have come through on the wires that Saab’s diesel problems will likely mean a US-only launch of the 9-4x at first. The European market needs a diesel and whilst Saab are probably chasing one down as we speak, there’s no quick fix when it comes down to matching it with a pre-existing vehicle.
Will it premiere at a US auto show in the coming season? That’s the other big question.
The cars – a new Saab 9-3
Spies whisper that work is coming along nicely on the car, which has now progressed so far that it’s earned its own internal nickname. I won’t spill the beans on what it is, but interestingly, there’s a similarly named project that involves windfarms, which should make Maud happy.
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You are now up to date.

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by Swade

Djup Strupe and the Saab 9-5

November 4, 2009 in News

The good news:
Installation of tooling for the 9-5 wagon sedan is going to schedule and should be largely completed by the end of November.
The not-so-good news:
A decision has apparently been take to postpone setup of the tooling for the new Saab 9-5 SportCombi, possibly for up to six months. Maybe less.
——
No other Djup Strupery for today, but if it were like this, I’m not sure I’d want to hear it anyway.

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by Swade

Monday Morning schnitzels Snippets

September 14, 2009 in Saabology

Time to catch up with a few of the stories floating into my inbox whilst I’ve been travelling.
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The Wall Street Journal has an article that I can’t see as I’m not a subscriber. The headline says enough, however….
Access to GM at Question in China Bid
The undelying premise here is that BAIC previously bid for Opel and were unsuccessful, reportedly due to concerns about intellectual property. How true that actually is, we may never know.
But if GM did rebuff BAIC on technology grounds, then the big question is whether or not GM can have any sort of Veto in the Saab transaction.
BAIC, remember, haven’t done a deal with GM here. They’ve done a deal with Koenigsegg Group, who are now party to a binding share purchase agreement.
If all goes through, then BAIC would get some level of access to GM technology through Saab’s current model line.
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Do you remember this car?
SaabCarparkMysteryCar.jpg
The car we’re referring to is the one to the left…… the 9-3 with the black wheels and extended wheel arches, etc. There was a lot of theorising in comments to that post about what the car could be.
Today I’ve heard from a Djup Strupe based in the US who’s spilled the beans on exactly what it is (or was, more accurately).
What we were looking at there is a test mule of a Cadillac BLS-V. A car that will never exist.
What’s a trifle annoying about it is that it was fitted with the kind of powertrain that many of us wish the Turbo X would have had from the beginning.
The engine in that mule is basically a working version of the conceptual engine mentioned in press materials for the Saab Aero-X. That is, a high-feature V6 with twin turbos and putting down around 400hp and 500nm of torque.
The vehicle was apparently in development until the BLS was ditched. Rumour is that it’s not going to feature in any vehicles, but the other rumour is there’s another vehicle, in Trollhattan, with that engine fitted for some initial evaluations.
That vehicle plan will likely go the same way as the BLS plan. But it’s interesting to know. I’ll have to keep an eye out for it later in the week.

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by Swade

Djup Strupe and Saab production

September 11, 2009 in Saabology

I received a note in the last 24 hours from a new Djup Strupe.

The following is un-verified, but in the spirit of mythbusters I’m going to label it with a ‘plausible’ rating as it all sounds quite possible. Likely even.

There’s only some short bits, but they’re good’uns.

Firstly, work is currently underway installing the tooling for Cabriolet production.

In the pipeline ….. the tools for the new 9-5 will be installed in November when there is a two week stop in production.

At present, they are producing some new 9-5s in Trollhättan but the bodies are coming out of Russelsheim.

If they’re not running factory tours at the moment, the new 9-5 getting put together would be a good reason as to why.

——

Oh, and there was this, which I’m pretty sure at this point is just someone with a creative sense of humour :-)

Click to enlarge:

KeggEdition.jpg

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by Swade

Mike Colleran named as future Saab USA chief

September 3, 2009 in News

The following was received by Saab dealers in the US this morning….

Today, I would like to announce the next step forward in anticipation of a renewed Saab presence in North America with the appointment of Michael “Mike” Colleran as President and Chief Operating Officer of Saab Cars North America.
Mike has been a member of the Saab USA team since 2005 and most recently served as Sales Director for the General Motors Premium brands which include Saab, Cadillac, and HUMMER. Mike started his career with General Motors in 1989 after serving in the U.S. Military and has served in various sales, service and marketing roles during his twenty-year automotive career.
As we ready to finalize the sale to Koenigsegg group AB in the next months, Mike will be forming a new Saab team with the responsibility of preparing Saab and its partners for independent operations in North American markets. Those appointments will be announced at a later date.
I would like to take this opportunity to thank you again for all for your unwavering support during the last months and I would ask you to remain focused as we move into the next exciting chapter of Saab Automobile’s history.
Best regards,
Jan Åke Jonsson

I don’t know anything about Mike Colleran, but this is good news, especially given the recent perceived instability in North America.
People are wondering how Saab’s distribution channels are going to work in the future. We don’t know the answer to that question, but at least now we know that the guys in charge are working on it.
My best wishes to Mike Colleran and the team he puts together at the new Saab Cars North America (which incidentally, covers Canada, wouldn’t you think?)
——
Thanks to Djup Strupe

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by Swade

Before the Saab Aero-X……

August 25, 2009 in Saabology

Saab designed and built the Aero-X concept car in just 12 months. It all started very early in 2005 and was shown at the Geneva show early in 2006.
I believe these sketches are from very early that process, maybe even earlier. They’ve come from a Djup Strupe well placed to know.
Click to enlarge…..
K-SeggSaab1.jpg
This is obviously not a car that’s going into production in any way, but it seems to be a good insight into what sort of things were going through the designers’ minds at the time.
The sketch above, for example, shows the car as being a mid-engined V8 – quite a step from the traditional Saab layout.
K-SeggSaab2.jpg
K-SeggSaab3.jpg
The other interesting thing about this concept sketch is the side profile. This is obviously a Saab from the front, but those side views almost show a hint of Koenigsegg, don’t you think?
K-SeggSaab4.jpg
My thanks to Djup Strupe for passing along this insight into the designer’s mind. It’s a very exciting glimpse.
Personally, I wouldn’t be opposed if they tidied up the front and brought this baby to life!

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by Swade

GM and Saab Wednesday snippets

July 15, 2009 in Archive

I haven’t covered GM much at all in the last few weeks. The less written about them the better as far as I’m concerned.
But does their recent backflipping on several things reek to anyone else?
Leading up to bankruptcy they were as contrite as a swagger-driven company could be. Yes sir, no sir, three bags full, sir. Want us to change the old guard? Yessir! Our went Wagoner and Bob Lutz announced his pending retirement as well.
Then the very same day they emerge from bankruptcy proceedings as “New GM”, Lutz reverses his decision to retire and is retained as head of marketing.
Leading up to bankruptcy they were all about small cars and Volt Volt Volt. Now they’re out relative danger, they’re talking about keeping the RWD Commodore/G8 and talking up the Chevy Camaro like it’s an automotive god.
It’s salesmanship at its best and worst all at the same time. I wish them well, but I really can’t wait for Saab to separate from this crew.
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Automotive News report that RHJ International have put a figure on their bid for Opel, at around 300 million Euros in equity plus a whole heap in state guaranteed loans.
Magna is still the frontrunner, though, and I’ll be very surprised if Opel goes elsewhere. Talks with RHJ are nothing more than a sideshow.
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The mainstream automotive press has been given access to the 2010 Saab 9-5. The press must be preparing their reports for upcoming editions. These are real, photographable versions of the car rather than the test mules we’ve been seeing. The cars were handbuilt in Russelsheim and after doing their initial rounds for the cameras at press events and motorshows, they’ll most likely be used for crash testing or sent to the crusher.
The press are also having a chat with Saab people whilst they’re there and the results are starting to pop up in the press.
Unfortunately, I can’t get the links to work at the moment (not even the front pages of these sites will show up on my computer right now), but Whatcar and Car Magazine, both from the UK, should both have stories up there at the moment or in the next day or so.
Obviously, we’ll have to wait a little longer to see the photos, but hopefully the stories will give a good read.
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The latest info coming through on the Saab 9-3 is that it’s due to get another facelift for the 2011 model year.
This will not mean much in terms of exterior changes as I’m led to believe that the main focus of the facelift will be the interior.
And it’ll be most welcome.
The changes will most likely be to bring the car into line with the new Saab 9-5 and 9-4x that should be out by then.
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The NY Times keeps up some reporting pressure on JD Power over those Initial Quality Surveys.
Last report, we read how the Mini fared badly but sells incredibly well. The contrast was due to customer perceptions of initial quality being turned around by actual quality once they’d got used to the car.
Read: the customer isn’t always right. Sometimes the customer is an ass.
This time, the NYT is focusing on the inclusion of “brake dust” on the JD Power survey.
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A link was placed in comments by Gunnar and emailed to me by Mike L.
Nice.
TurboXcoupe.jpg

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by Swade

SU Q&A #1 – the answers

July 14, 2009 in Troll Stuff

Yesterday I offered up our first SU question and answer session and there were a (small-ish) number of questions posed, so here are the answers as best I can answer them.
We might try this again in a few weeks….
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On a normal weekday, how many hours do you spend working on this blog?
Probably around five hours or so. An hour or two in the mornings and three or more at night whilst doing dinner, family stuff, TV. I have a very understanding wife.
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Do you feel like a king walking down the streets in your home town?
Nope. I feel old, overweight and cold. It’s nice to switch on the computer and get amongst more friends, though. A sign of the world we live in?
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I read the latest “Saab 7 dagar” which is an internal mag for saab empolyees. [Eric] Geers was talking about future PR technics and general customer communications. He said the formal corporate press release still has some values but he is looking into new channels of releasing news. Interesting stuff and I thought about you and SU…….How can we, as readers, make it happen? How can we help you?
I don’t know if, nor how, you could possibly help. I’ve said for a while now that I’d love to see Saab get more involved in social media and connect more directly with their customers and yes, I’d love to be a part of that.
The decision to get involved has to come from within. The popularity of sites like this one, Saabnet, Saab Central and Saab History (and plenty of others) shows that there’s a level of involvement in the Saab community that’s quite high compared to their sales numbers. These may not necessarily be new customers for Saab, but they’re ones that they definitely want to retain. I’ve heard enough through my inbox to show that TS and SU have helped people buy for the first time, too.
All I need to keep on going is a story to tell and a good environment to tell it.
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I guess you have answered this before, but I was wondering what led you into liking Saab?
It all started with a drive in a Saab 9000 into Philip Island…….
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A few months back I put a question about ECU upgrades for the Turbo X and wanting to see comparisons or feedback on how BSR and Hirsch, Abbotts compared etc’ I just saw Robbodog did respond with comment on his BSR but is there a section dedicated to this topic?
No there isn’t, but that’s a great idea.
I’ll try and compile that information in the next little while, though it will probably be just for recent model cars.
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Do you have any (relatively accurate) information about how far away a signed deal between GM/Saab/K-egg might be?
I’d happily make a well-educated guess that a deal will be signed between GM and Koenigsegg in the next week and a half for the sale of Saab. The announcement may come from Saab at the Saab Days gathering in Trollhattan this week, but if it doesn’t, it shouldn’t be more than a week or so later than that.
That Saab Ads post, is it really a poll about how many active readers you’ve got on the site or something similar? :) I just can’t help but reading something more into it than the post says. Btw, wouldn’t it be a great motif for a t-shirt?
I understand in these time of high drama and Saab intrigue why you’d think that way, but “no”, it was nothing more than an effort to get a great poster/advert out to people who wanted it.
I have stats that I publish here monthly that tell me how many people are stopping by.
Agreed on the T-shirt idea, though it may have to be a smaller (i.e. less models) version to make sense on the T-shirt.
Does it look like that NG9-5 test drive will happen now? In which case, do you know when? I would LOVE to read about that.
This relates to the possibility of me travelling to Sweden to test drive the new Saab 9-5 when it comes out. I don’t know if that’s still a possibility or not. It’s certainly something I’d discussed with them earlier in the year, but then I went and released the CGI’s.
I hope it’s still on the agenda as I can’t wait to get back to Trollhattan, but I understand that this is Saab’s show and they have the right to run it how they choose.
Do your neighbours know what you’re up to?
Perhaps the question should be do I know what my neighbors are up to?????
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With all the shakeups within GM, what has become of the GME design group and specifically Anthony Lo? Do we know this yet?
I haven’t heard any specifics yet. Saab’s design presence was pretty small in Sweden, led by Simon Padian. From what I understand, the vast bulk of work on the 9-3 and 9-5 has been done in Russelsheim with a lot of the 9-4x work done in the US.
I’ve had passing chats with some people in Russelsheim over the last few months and the prevailing thought seemed to be that whilst Saab were a very desireable company to work for, the relative lack of long term security may be a factor in deciding against it.
Also, designers love their design surroundings, so Saab might have to build a decent design studio to attract the talent. I’m sure they’ll have no trouble convincing Bard Eker of the need for this. Perhaps the Eker Design people might take a prominent role in Saab’s future (I just hope they’ve got enough automotive experience if that’s the case).
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Is it true Jose is really Pablo Escobar in disguise?
I’ve never seen them in the same room together, so maybe……
Then again, I don’t think anyone sees Escobar in any rooms anymore, do they?
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Whats going on with Cadel Evans on LeTour? Lance Armstrong is giving him more support than his own team it seems.
Crap team that had a crap time trial. I haven’t seen much of the tour since.
Why didn’t Australia win the first test at Cardiff?
Our captain’s a dud. Great batsman, great Tasmanian, dud strategist.
How many people now need to apologise to Mark Webber for all the rude comments they’ve made over the years?
I dunno. Presumably heaps. I’m just glad Tasmania could play its part in forging his character with a leg break earlier this year.
Ah, swade, I feel so much better knowing that you can answer all these things.
You’re not helping the credibility of this exercise, you know, Pete…..
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Now you’ve got a feel for this, maybe you’ll have a question or two for next time.
Please save it for then, and I’ll open up an invite in a few weeks from now.
Thanks to this week’s group of inaugural questioners.

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by Swade

First photos – 2010 Saab 9-5 Sedan AND Wagon

June 26, 2009 in Archive

UPDATE: II
These are out there now, so there’s no point in having the small ones anymore.
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Djup Strupe does it again…..
These are the first images that I can confirm are original Saab stock. They look more like CGI’s than actual photos of real cars to me, but they’re authentic.
There’s one of each of the sedan and wagon (which is an absolute stunner if you ask me)
2010Saab9-5officialSU
I have no idea what spec these cars are (eg. Aero or otherwise).
Also, please remember that no matter what you think of these images – they’re most likely CGI’s and every car looks better in the metal than what it does in photos.
…..which means the road should melt in the presence of this wagon….
2010Saab9-5wagonOfficialSU
I want one of those wagons – NOW!!!!
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A recap for the unfamiliar:
The 2010 Saab 9-5 is due to come out in sedan form either late 2009 or early 2010. The Motor Show debut will be later this year in Frankfurt.
The wagon is said to be following year after.
The car should be available with a mix of four and six cylinder engines (petrol/BioPower) and a four cylinder diesel. The six cylinder diesel that was planned for the car was cancelled by GM.
Photos of the interior
We also have a full list of colors and features.

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by Swade

Djup Strupe: Internal show-and-tell of 2010 Saab 9-5 happening soon

June 26, 2009 in Archive

Saab have recently distributed a brochure to some dealers, who have been invited to see the 2010 Saab 9-5 and the various other cars in Saab’s future. The display will most likely take place from next month.
The brochure included these watery images of the next 9-5. Click to enlarge.
Saab9-5WC-1.JPG
Saab9-5WC-2.JPG
There was at least one new piece of tech (new to Saab, at least) that hadn’t been mentioned previously as far as I recall.

Just push the start button in the cockpit and you’ll immediately get a new perspective on on-road excitement. Like the new generation of highly efficient turbo engines fuelled by petrol, diesel or bioethanol, the pioneering Saab XWD cross-wheel drive system and the advanced DriveSense system allowing you to adjust the agility of the car with the simple twist of a knob. Not to mention a completely new level of real-life safety, featuring a range of sophisticated driving assistance systems. So prepare for a different and very energetic experience. The all new Saab 9-5 Sedan.

Sounds like fun.
The word going around is that there may be press photos etc of the new 9-5 around a month afterwards.
Saab9-5WC-3.JPG

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by Swade

More Saab 9-5 and 9-4 interior details

June 10, 2009 in Archive

There’s a new edition of Autocar on the news stands and if you’re in the UK, you might want to check out the Saab stuff contained therein.
I’ve received some info from them, which I’m guessing is in the magazine, for reproduction here for the benefit of those who won’t be able to rock up to their news stand and pick one up.
The info relates mostly to the Saab 9-4x and 9-5 interiors, as well as the segments Saab seeing these fit into. I know the 2010 Saab 9-5 is the one we’re all really waiting to see, but I tend to agree with the point below, that the 9-4x is going to be a much more significant player than what many of us give it credit for.
My thanks to the guys at Autocar for the insights here.
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Now the mag is out, I can say that the interior of the 9-4x concept is pretty much the interior of the 9-5. The real car has black switches on the centre console (rather than silver) and some of the switchgear detail by the shift lever has been tweaked.
2010 Saab 9-4x This is the most detailed interior shot we have, though it’s unknown if it features all the materials mentioned here. This is from a Saab 9-4x test vehicle. SW
On the production 9-5 Vector, the blue plastic dash finish on the concept is replaced by a deep blue tinted translucent plastic. (On) the back of moulding is a grid of tiny moulded squares (which you’ve already mentioned) which show through to the front under direct light.
The 9-4x concept steering wheel and stalks are production 9-5 as far as I remember. The production 9-4X also gets the same interior, give or take a few pieces.
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Your readers made some interesting comments about the gap between the 9-5 and new 9-3. Saab is aware of the size of the 9-5 and made it clear it was being pitched as a flagship. However, the 9-4X is seen as sitting in that A4/3-series slot
According to the research they gave me, Saab buyers are more likely to have children in the household than other premium badge owners. They also said that the X3/Q5 was the ‘fastest growing premium segment’ at the moment. It’s also a pretty global type of car, unlike the compact estate which doesn’t sell in the US.
There’s quite a strong argument that the 9-4X is the best way for Saab to compete globally in the A4/3-series segment, especially as Saab is going to purchase finished ‘turn key’ cars in dollars from GM’s factory (which could deliver keen profit margins in Europe).
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The other thing – confused in our report – is the three levels of suspension to be offered on the 9-5. Standard is McPherson strut and a four-link rear. You can also opt for the Hyper Strut front end which Bergstrom says is more rigid, so offering better steering and better NVH results. However, Saab will also offer the more sophisticated AWD rear axle without 4×4.
I’m not sure if Hyper Strut is standard on the 4×4 chassis.
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This is all very encouraging news, particularly concerning the interiors of the vehicles. I remember being very taken by the 9-4x concept interior last year in Detroit, so to hear that a similar level of finish is being built into the production 9-4x and 9-5 is great news.
I should also mention here the Djup Strup info I got about the 9-5 interior last week, which very much backs up what Autocar have reported here:

The cars they showed me — 9-5 sedan + wagon + 9-4 — didn’t have interiors, but they did have a separate 9-5 interior set up alongside, and it had the same ice-like dashboard that you mention: dark blue I would say, studded with tiny bits coloured icy blue, quite gleamy and interesting. In shape it was, they said, an L shape dashboard and it felt very wrapped around the driver, almost two bays, one for the driver, one for the passenger (I exaggerate but you know what I mean)……. It also had a head up display, to project the indicators on the windscreen, as a top of the range thing, but I expect you already knew that, leather wrapped steering wheel etc.

Good stuff!
I’m really looking forward to driving the 9-4x. I don’t know why as I’m not a SUV type at all (ok, crossover) but there’s something about it that’s appealing to me right now.

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by Swade

About Saab’s bidders: Merbanco – from comments

June 9, 2009 in News

The internet has made the world an astoundingly small place, hasn’t it?
Providing you can trust everything you read (which you should be able to from the Securities Exchange Commission), we have these interesting details that readers have dug up and placed in comments.
This gives us a good background as to who some of the people associated with Merbanco are.
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UPDATE: from Henry Strupe (Djup Strupe’s american brother)
What we’ve dug up here is useful as a sketch, but that’s pretty much all it is. An outline. The substance to this lies in the people behind the scenes, for which Merbanco is acting as a front office.
His words:

Merbanco is nothing but a playform to source. Deals are always in an entity created for the specific deal.
Merbanco is a mule.

So whilst what we know is valuable and reassuring, it’s also incomplete.
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Christopher A. Johnston has been President and Chief Executive Officer of Merbanco, Inc. (“Merbanco”), a merchant banking company, since 1991 (see “CERTAIN FMP TRANSACTIONS”), and President and Chief Executive Officer and director of FMP since its organization in 1996. He also served as President of Republic Realty Mortgage Co. from 1992 to 1995. He is a citizen of the United States and his principal occupation and employment is as President of Merbanco, Incorporated. He is a director and President of Acquisition Corp. Christopher A. Johnston is the son of Richard P. Johnston and brother of David E. Johnston.
Richard P. Johnston has been Chairman of the Board of Merbanco since 1991 (see “CERTAIN FMP TRANSACTIONS”), served as Chairman of the Board of Republic Realty Mortgage Co., a commercial mortgage company, from 1992 to 1995, was Managing Director of Hamilton Robinson & Co., an investment advisory company, from 1991 to 1994, and has been Chairman of the Board and director of FMP since its organization in 1996. Mr. Johnston is a founder and a director of AGCO Corporation (AG: NYSE), a farm implement manufacturer and distributor, a director of Myers Industries, Inc. (MYE: AMEX) a plastic and rubber products manufacturer, a director of Results Radio LLC, a radio broadcasting company, and Hotels Online.com, an internet service provider for hotels. Richard P. Johnston is the father of Christopher A. Johnston and David E. Johnston.
The SEC information says that Richard Johnston is a co-founder and director of AGCO. This doesn’t appear to be current. More recent information also in comments indicates as follows:

Mr. Richard P. Johnston serves as Director of Myers since 1992. He Currently a private equity investor; Chairman of the Board of Royal Associates, a holding company based in Jackson Hole, Wyoming; Director of Results Radio, Inc., Sonoma, California; formerly served as Founder and Director of AGCO, Inc. (NYSE), Duluth, Georgia, a manufacturer and distributor of agricultural equipment.

David E. Johnston – information removed as it doesn’t seem relevant to proceedings here.
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As mentioned in comments, the AGCO connection, although no longer current, is a significant one. AGCO are a huge, global company involved in the manufacture and distribution of agricultural equipment and it appears that one of the Merbanco players was part of the formation of this company.
From their website:

AGCO is one of the world’s largest manufacturers and distributors of agricultural equipment. Our brands are sold in more than 140 countries and are led by these four core global brands:

  • Massey Ferguson
  • Valtra
  • Challenger
  • Fendt

Technical diversity, multiple brands, and global distribution strength are the keys to AGCO’s growth strategy. Major market share positions in key agricultural markets of the world have been achieved by our strong focus on customer service, leading edge technology and an independent dealer network of more than 3,000 full service dealers – the largest distribution network in the industry.
AGCO’s innovative products continuously receive recognition and awards at international exhibitions, but our most coveted award is the recognition of our wide-range of products by farmers and dealers across the globe.

——
Remember that Merbanco appears to be a merchant banking operation and from these descriptions it seems that father (Richard) and son (Christopher) are involved in Merbanco.
It’s likely not just them, however, with clients or contacts in the background that are part of the deal.
The good news is that this background involves

  • plenty of experience
  • global experience
  • financial experience
  • manufacturing experience
  • long-term development of a significant manufacturing company

…..and there’s no bitter aftertaste.
If this is what it appears to be then I think we’ve found a buyer for Saab just about anyone can support.
I hope they go well. Very well.

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by Swade

Djup Strupe and an update on the Saab sale process

June 6, 2009 in Archive

RE-Posted
This is the biggest entry of the day, so I thought I’d re-post it back to the top of the site. Subsequent entries continue below
–
I’ve been collecting bits of information for the last few days about various players in this Saab sale process. I think we’re at a point now where I need to put some of them on paper.
These are the collected tips from several Djup Strupes (that’s swedish for Deep Throat) who are well placed to know.
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Bidder re-emerging
I don’t have a name for the consortium that’s trying to get back in the bidding process, but I have managed to get a few details.
The bidder has been reported to me as a consortium based in the western United States. They’re reported to be very serious players with a long term outlook and a genuine interest in developing Saab. The group was reportedly extremely well received by the team at Saab but their initial bid was seen as too low by Deutsche Bank, who are working on behalf of GM to find a buyer for Saab (more on that in a moment).
There is not much more that I can say about this group except that they are trying to get back in the game. Whether they have been successful in that, and whether they are the only ones trying to get back, I also don’t know.
With a description like that, though, I’d like to see them get back amongst the fray.
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Koenigsegg concerns
Something that popped up in comments here got me crunching some numbers today. Combine the results with some Djup Strupe whispers and it’s got me to the point of being concerned about Koenigsegg’s bid for Saab.
Koenigsegg reportedly sold around 20 vehicles last year. At a price between 750,000 and 1mil Euros per car, that means a ballpark figure of up to 20million Euros in revenue, at most, from automotive sales.
I’m not sure what other revenue streams K-Segg might have; maybe they do engineering work for others and I guess they might have some servicing revenue with an intense customer service focus, but at most you’re looking at revenues of less than 30million Euros in total.
My concerns are not whether Koenigsegg can scale up and take supervision of a mass producer. They only build a handful of cars at a time, but their construction method is one that is designed to be upscaled. And Saab management would still be Saab management.
My concerns, even with Bard Eker on board, are that their combined businesses just don’t make enough money for them to be adequately financing this bid. They must be the pretty face fronting for (a lot of) other people’s money.
The most worrying part is the Djup Strupe whispers that came through this week – that they might be having some trouble getting that money together.

Read the rest of this entry →

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