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by Swade

Third parties do not arrange Saab’s future

December 31, 2009 in Editorial

First we had the respected French marketing guy who is possibly still waiting by the phone for GM to call him about running Saab.
Now we have a Swedish-Italian entrepreneur bringing Sergio Marchionne to see a factory that the (another made up word) Swedalian doesn’t control and that Marchionne doesn’t need.
The story first appeared at Realtid.se.
In short, a guy named Salvatore Grimaldi is organising some sort of conference for Italian industry in Sweden. He’s invited FIAT’s head honcho, Sergio Marchionne, along to speak and whilst he’s there, he’s proposed taking Marchionne on a tour of Saab to see if Marchionne wants to use some of the factory’s ‘renowned flexibility’ to produce some Lancias or some such thing.
Ahem……
Has anyone told Saab about this tour, or does Grimaldi just plan to knock at the gate with Marchionne and ask for a visitor’s pass?
So.
Two reasons why I think this another story crafted to get someone’s services mentioned in the press. Actually, three.
First – this guy’s got nothing to do with Saab. He’s not out to help Saab. He’s out to pick on Saab’s bones should they be closed down. That’s how I see it.
Second. What the heck does Marchionne need another factory for? Isn’t he a little busy with his new US capacity? 50,000 units made in Sweden? For what?
And third. Getting your name associated with a plan for Saab right now means you get press. Thrown in a Wallenberg and you get even more.
People outside GM/Saab do not arrange the future of Saab. It’s quite simple. This guy’s thoughts might make for a decent Plan B if Saab is closed by GM. Manufacturing for someone else would keep the people there employed for a while longer.
But it seems a bit presumptuous to me that an outsider can assume it’s OK to make arrangements for a factory he has nothing to do with. I’m sure if Marchionne wants something to do with Saab that he’d not need the services of an intermediary to get a look around.

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by Swade

Friday Snippets – bad Fiat. BAD!

July 3, 2009 in Archive

Fredrick Reinfeldt doesn’t care about saving the ship, only the people on it.
I care about those people having an identity, and about them being saved.
Fredrick Reinfeldt’s government would prefer to see Fiat take over Saab. I’d rather not see that happen, and here’s one very good reason why.
Fiat may be planning on bringing Dodge vehicles to Europe…..branded as Alfa Romeos. As a former Alfa owner and a remaining lover of the Alfa heritage, I can barely think of anything more unpalatable.
It’s looking more and more like GM in a fancy suit. No thanks.
——
There are more spyshots of the Saab 9-5 out testing this week.
In Colorado:
saab-9-5Colorado.jpg
And somewhere else (Dutch website)
Saab9-5Belg.jpg
It’s looking good, still.
Can’t come quick enough.
Thanks to various parties for links!
——
The weekend cometh.
I believe it might be a holiday weekend for you US Saabers, correct?
Anyone got any particular plans of interest? I’m going to get my hands a little dirty playing with the MX5. New interior bits have arrived so I’m going to bling it up a little.
I know it’s low on their priority list, but an MX5-like Sonett would be such a thrill. Simple, tossable and fun.

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by Swade

Government playing favourites with Saab/Fiat

July 1, 2009 in Archive

A report in today’s Dagens Industri will give you a pretty clear indication of who the Swedish government’s favourite is for a takeover of Saab.
You may remember Maud Olofsson’s almost palatable disappointment when Fiat pulled out of the bidding for Opel. She’ll be smiling again now as Fiat are apparently back in the game for Opel (kinda) and included in that is Sergio Marchionne’s plans to include Saab.
From Dagens:

Fiat has come back as one of the candidates to take over Saab, the details of the seller to General Motors turned to the question of who should take over Opel, writes Dagens Industri.
According to Dagens Industri flourishes new information that GM is looking for a better deal to sell Opel than the current candidate, the subcontractor Magna offers.
“I am not surprised. That’s exactly what we have seen with GM for a long time. It signed preliminary deals, but after a time GM can open up to sweeten and enhance the bids for their own part. It is no surprise, but it does not contribute to any clarity, “says Jöran Hägglund, State Secretary at the Industry Ministry, to DI.
Secretary of State describes Fiat plans for Saab as “exciting” and suggests that Fiat probably has more resources to help Saab, who need to borrow money quickly to be able to produce cars.
“Fiat is a larger group who managed to turn a negative into a positive development and have the ability to fend off the up and downs. In light of the need for capital, it may perhaps feel better to have it in the back, unless a smaller player has enough capital with them, “he says to Dagens Industri.

Any references to Koenigsegg in the last few weeks have been quite negative in tone. The contrast here is blinding.
I’m not against Fiat owning Saab. The continued tie-in with Opel would annoy me more, personally. I’m quite sure that Saab would have more identity under Fiat than what they did under GM.
What annoys me, though, is the government’s lack of consistency in their commentary. Koenigsegg may be small but Fiat have huge problems of their own in terms of debt and their work with Chrysler in the US.
I guess if they look big it’s a less risky deal in the eyes of the public. And it’s the public who votes at election time.
–
I’ve got to go hunting, but I haven’t read anything recently that shows Fiat are active again in their pursuit of Opel. The last I read they had left their offer on the table, saying it was the best they could make.
GM were pursuing improved offers and BAIC and RHJ are going to submit improved offers, but as I understood it, Fiat would let theirs stand saying it was the best they could do.
The Opel deal is under significant pressure, not only from GM courting different people, but also from the EU:

The guidelines for state aid to ailing companies through the German “Economy Fund” is very strictly: The state must be of high interest rates for the Opel credit. For the guarantees envisaged by 2014 further fees would be payable. Only 90 percent of a loan should be hedged.
If the Federal Government and the investor do not fulfill these conditions, the control of EU state aid rescue will be effective: Opel is threatened with harsh conditions, the company would have to reduce capacity and close plants.

——
Thanks to MG in comments and Alexandros via email

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by Swade

Opel still open to Fiat – Fiat still interested in Opel

June 5, 2009 in Archive

If you’re taking an interest in the mergers and acquisitions world for the first time – like me – then it’s really intriguing how all these things work.
Last week, stories ran around the world saying Magna had bought Opel.
Earlier today, we heard that the German government still considers Opel to be up for grabs if companies want to come in with a higher bid.
Now, we hear that Fiat are still interested in Opel, and they might even have some support from the Italian government behind them.
From Automotive News:

The Sueddeutsche Zeitung quoted sources at Fiat as saying that if the GM-Magna talks were to fail, Fiat would resume negotiations over Opel. German government sources confirmed the information, the Munich-based paper said.
The newspaper also said China’s BAIC, which makes Mercedes-Benz cars in Beijing in a joint venture with Daimler, could also bid again.
Fiat and BAIC were passed over when General Motors and the German government chose Magna International early Saturday as the preferred bidder for its Opel/ Vauxhall unit.
Germany has stressed that other bidders, including Fiat and BAIC still would have a shot if they improved their bids.
“The process is still open to all the bidders,” government spokesman Ulrich Wilhelm told reporters in Berlin on Wednesday.
After being criticized for doing nothing to help Fiat’s bid, Italian Prime Minister Silvio Berlusconi said on Wednesday his government would be willing to intervene with Germany to support another Fiat bid if the automaker wanted.
A German official told Reuters that representatives from BAIC met members of the government on Tuesday and made clear they would “seriously consider” a more detailed bid if talks with Magna failed.
The German government has an interest in keeping up the pressure on Magna until a deal is closed that fully satisfies Berlin’s demands.

And yes, the BAIC that they mention as building Mercedes Benzes in China is the BAIC that was interested in Saab.
So whilst Saab have said that they’re currently in discussions with two parties, there’s clearly room for previously interested parties to trump those two existing bids. That could be via more money or better conditions being attached to their bids.
Saab want to get this deal done soon. I hope those that are interested have put their best foot forward and that all parties are doing their jobs as best they can for the best outcome.

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by Swade

Magna to take over Opel

May 30, 2009 in Archive

This has just come in via news alert from Automotive News.
Thoughts on what Fiat might try to do in response are welcome in comments.
——

FRANKFURT (Reuters) — General Motors and Canadian auto parts group Magna International Inc. have reached an agreement in principle that could rescue ailing German carmaker Opel, sources close to the negotiations said today.
The two sides have been trying to agree on a memorandum of understanding that would serve as the basis for bridge financing of 1.5 billion euros ($2.10 billion) as well as a trustee solution that would protect Opel from creditors in case parent GM files for Chapter 11 in U.S. bankruptcy court.
“A framework agreement has been reached. The goal is to work out as many of the details as possible before the meeting with (Chancellor Angela) Merkel in order to sign a memorandum of understanding today,” one source with knowledge of the talks told Reuters.

The rest of the backstory is here.

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by Swade

It’s Renco vs Fiat for ownership of Saab – maybe

May 28, 2009 in Saabology

Some time soon, Saab will announce who their new owner is.
In the past on this site, I’ve made very-well-educated guesses as to who’s who in this drama and if the final three aren’t who I’ve proposed, I’m still promising that nudie run outside GT.se’s offices (as long as their writer, Jan-Erik Berggren, promises the same if he’s wrong).
I’m making not-so-well-educated guesses in this post, but I still feel very confident in my predictions.
——
FIAT
If FIAT are still in the game – and Maud Olofsson’s saying they are – then it’s because someone is happy to circumvent the proper process and let them through the back door.
Let me reiterate again – FIAT were not one of the original bidders and are not one of the official final three. But that doesn’t seem to mean that the door is shut to them.
And nor should it be, IMHO.
I was opposed – and still am – to the idea of Saab being brought into a huge conglomerate with Opel still in the fold. They’ve been there with GM and they don’t need to go there again.
But it looks like FIAT are going to miss out on Opel. And that opens a door for Fiat and Saab in my mind. There are a number of people at Saab that I’ve spoken with in the last few weeks – and a number of Swedes outside of Saab – who are in favour of a takeover by Opel FIAT.
The Italians and the Swedes seem to work well together, for starters, and Saab seem to feel that they’ve got something substantial to contribute to Fiat.
Perhaps Fiat leaves a better taste in the political mouths of the Swedes, too, which brings us to….
Renco
It’s been all quiet on the Renco front. But I have a feeling that the PR crew at Saab are working overtime trying to figure out how they’re going to sell Renco to the general public.
I’ll go on the record here and now. Out of the three official bidders that I believe are in the running for Saab – Renco, Koenigsegg and BAIC – I think Renco is the most likely to win the day.
I’ve heard rumours that Ira Rennert may have lost a truckload of cash when Wall St rogue Bernie Madoff went under, but he’s still well connected and said to have a personal wealth of as much as $6 billion.
He’s well connected, should be well funded, and familiar with the suits at GM. What he wants with Saab is unknown, but according to Saab all three bidders have seen Saab’s business plan, have committed to it and have proven they’ve got the funding to carry out what they’ve committed to.
Some have wondered whether Renco are really involved given that the Greens in Sweden reviewed the contenders and gave their thumbs up. Folks – it says more about politicians and marketing than anyone else and no-one should be surprised by a politician making the best of a photo opportunity.
I’ll place my bet on Renco winning the prize. I may not like it, but I think that’s the way things will go.
We’ll see in a few weeks, I guess.
——
The others.
I get the increasing feeling that whilst they’re probably the most cashed up of the lot, the Chinese bidders are out of this race. Whether it’s reluctance on their part after seeing an opportunity for a bigger fish in Opel, or reluctance on the part of GM or the Swedish government, or both, I think they’re out of this race.
Whispers are coming down the lines that Koenigsegg weren’t as well funded as the others, which may be a big obstacle.
You’ve all seen the Saab marketing posters where they mention a 9-4x and a 9-5 and maybe a smaller Saab coming down the line….. I think that the bidders who could see the value in planning for a smaller Saab and made some inclusion of this in their plans for Saab were probably better received than others.
Just my 0.02c
——
Le Figaro are claiming that Fiat are one of “the three.”
GT.se now say that Ripplewood, who were until recently a bidder for Opel via their spinoff company, RHJ, are one of “the three” and the likely winner.
Both incorrect. Nudie runs.

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by Swade

Opel have three bidders, too

May 20, 2009 in Archive

Here’s just a quick update on what’s happening on the other side of GM Europe.
The Financial Times state that Opel have three bidders, being Fiat, Magna, and a Belgian car parts holding company, RHJ International.

All three groups are expected to make offers for the stake by Wednesday’s deadline, two people with knowledge of the deal told the Financial Times on Tuesday.
Additional bids from up to three other private equity and sovereign wealth investors were still feasible but not as likely, one of these people said.
RHJ’s chances were boosted when it was endorsed by Klaus Franz, the head of Opel’s powerful works council, in an interview with the FT.

Wouldn’t it be ironic if Fiat and Magna missed out on both of GM Europe’s properties?
It’s all coming to a close, very soon.
Thanks to PT for the link!

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by Swade

FIAT to submit GM Europe bid this week

May 18, 2009 in Archive

News sources are just starting to percolate with the story about FIAT reportedly planning a non-cash bid for GM’s European assets.
Not much is known as yet and it’s all from “unnamed sources” etc, but the story does include Saab so it’s worthy of some space here:

Italian Fiat SpA will submit a non-cash bid for the acquisition of German Opel in the portfolio of US General Motors by Wednesday (20 May 2009), Dow Jones reports on 18 May quoting a source close to the situation.
Chief executive Sergio Marchionne is expected to meet with German state representatives these days, continuing his efforts over the past four weeks to close a merger deal between Fiat, US Chrysler and GM Europe.
According to the source, Fiat plans to reduce the production of GM European units Opel and Saab, but will not close down any GM plants in Europe.
The source said that Marchionne has contributed personally to the final details of the plan.
Fiat made no comment on the news.

I’m sure more will come out about the composition of the bid during the week.
——
It’s certainly going to be an interesting two weeks coming up.
Saab are back in court tomorrow. It’ll most likely be a closed hearing and my understanding is that Saab are quite confident they’ll tick all the boxes required to gain their next three month extension.
GM will most likely go into court themselves, possibly before the June 1 deadline, to commence Chapter 11 bankruptcy proceedings.
And there’s this bid by FIAT.
By the end of June, maybe even sooner, the automotive landscape will be almost unrecognisable compared to just six months prior.

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by Swade

Thursday snippets

May 14, 2009 in Archive

My nephew gets married tomorrow. Posting could be slow for a couple of days as a result as family get-togethers aren’t that frequent around our way.

I’ll do my best to stay on top of everything, though.

——

A note I saw at autoextremist.com, which I thought I’d commandeer and relate for my friends at Saab:

PR/Marketing 101.

Communicate MORE not LESS in troubled times to show you are alive. The vacuum created with LESS communications is always, always filled by forces outside of your control (i.e. news of bankruptcy, sales declines, plant shutdowns, layoffs, etc.)

Jason Vines
Franklin, MI

Jason Vines has worked as the communications head at both Ford and Chrysler in the past. A respected guy.

——

Time to catch up on a few stories that I haven’t had time to cover in the last few days…..

——

GM shares nosedived earlier this week after Fritz Henderson stated that bankruptcy was looking more and more likely, though he claimed it was still not inevitable.
It didn’t help the share price, of course, when the market found out that a bunch of GM executives – including Bob Lutz – had been given the green light to dump their shares. Lutz and five other execs sold their holding for around $315,000 (which sounds like a lot, but they’re probably crying, thinking about the price they’d have got if they had been allowed to sell them a year ago).

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by Swade

GT analyse their three buyers for Saab. I analyse GT

May 12, 2009 in Archive

I provided a loose Googletrans of an article appearing at GT.se earlier this evening. In that article, GT identified the three remaining bidders as Geely, Fiat, and a mysterious German bank.
Thankfully, they’ve also provided some more information to back up their thoughts.
Here is GT’s analysis, with my analysis of their analysis following:
——
GT on Geely
Geely has studied Saab for many years and they were early in the auction.
The Chinese have also looked at the car plant in Trollhättan. Geely is a private company which is considered to have the financial muscle needed. Geely has also engaged the services of the British merchant bank Rothschild – which includes ex-Volvo-heads PG Gyllenhammar and Hans-Olov Olsson work – to find co-financiers.
A likely partner is Sheikh Maktoum Hashar Maktoum al Maktoum of Dubai.
GM chief Fritz Henderson is afraid to sell to the Chinese because of future competition. Henderson does not want to let the Chinese get Saab dealers in the U.S.. Geely buying Saab means a CULTURAL CRASH in Trollhättan and in the best case develops Geely Saab to a luxury brands of Audi. (I’m not sure that’s translated accurately – SW)
Swade on GT on Geely
That Geely visited Saab’s factory is a given. At least nine other parties did the same. The partnership with Sheikh Maktoum is speculation. He was mentioned early in the piece but I can’t recall that he was specifically aligned with Geely.
One thing that the piece doesn’t mention is that Geely aren’t very big, are private and therefore not necessarily government backed. But more than all those – Geely are a minnow in their own market and not that well regarded.
Final note, Geely themselves have said they’re not in the market for Saab or Volvo. they stated that in a filing with their own stock exchange, though there’s some skepticism even in China about the integrity of such findings.
Verdict – a possibility, but a remote one in my book. Too small, too ambitious, and too much in need of Swedish guarantees when the Swedes would be worried about tech-drain to China.
GT on Fiat
Fiat boss Sergio Marchionne surprised all when he impudently declared that he wants to buy GM Europe and GM’s operations in South America.
Marchionne wants Saab to cooperate with any other make of car in the new super group. GM chief Fritz Henderson has negotiated with Marchionne but wants to have 30 percent ownership in the new high-Fiat. Marchionne has said that it could sell ten percent.
In buying Saab, Fiat expect large cuts in Trollhättan and the new 9-3 will be put off until Fiat found a new, appropriate, platform. The good thing with a Fiat-buying is that there already are developed forms of cooperation between Opel and Saab. Marchionne has said that no German car plants will be closed, which means a tough future for all others.
Swade on GT on Fiat
A solid analysis…..except
In the context of recent stories saying Saab have two or three bidders remaining, these bidders are people who Saab have been talking to for several months.
Fiat are not one of these bidders, because Fiat were never part of this process. Fiat just walked in to the picture and said “we want Opel and throw Saab in while you’re at it”
Verdict: If Fiat end up with Saab, it will be an extension of the Opel deal, not part of this process that Deutsche Bank are undertaing on GM’s behalf.
GT on a mysterious German Bank
The new buyer of the gang.
According to a source within the General Motors owns a German commercial bank on behalf of – General Motors. The Bank is acting as secret agents and it is not previously known that it is General Motors underlying interest.
The motive should be to monitor the Saab-management behavior and to have a bid ready if it turns out that it needed to prevent the Saab be in the “wrong” hands.
This can also be Fritz Mr Henderson’s way to make sure that he can control the Saab’s future and get to the five billion in loans from the European Investment Bank, EIB, as the Swedish government more or less promised a new, strong, owner.
Buying the German commercial bank Saab on behalf of General Motors is it just to get over the loans and then loot the company of all assets. Then there is a definitive end to the Saab.
Swade on GT on a mysterious German Bank
Rumours that the head of this German Bank was last seen on a grassy knoll in Dallas on November 1963 are yet to be proven.
I suppose there could be one of the bidders that we haven’t heard about who could be a front for GM buying something that they already own, but somehow I think Deutche Bank would see through the Groucho Marx disguise and call them out.
And besides, Fritz Henderson has come out in response to the claims that GM want to retain control of the Saab 9-5, saying he’s happy to work with Saab’s new owners in the future, but that that new owner will not be GM.
Verdict: Hmph
——
Final verdict:
I’d say GT scored half a point out of a possible three points, and that’s only if Geely are still in the race, which they have said they aren’t.
And it’s noted that they didn’t include the joker in the pack – Renco. I’m quite solid on my sources with this, so they fact that they haven’t put them in is indicative of the reliance I’ll place on the article.

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by Swade

Collin: Fiat would be best for Saab

May 12, 2009 in Archive

Aftonbladet’s Robert Collin has picked up the Renco story on his blog.
But enough of that…..
Collin has also trumpeted the Fiat option as being the best for Saab. In a two part entry, Collin looks past Sergio Marchionne’s reported plans and posed a scenario that makes a reasonable amount of sense.
Saab have three production ready models, a modern flexible factory, and a US distribution network that Fiat would covet for Alfa Romeo.
Many, myself included, have assumed that Fiat would just ditch Saab and use their real and perceived assets for their and Opel’s benefit. But Collin does ask a legitimate question – why would Fiat drop three reportedly very good vehicles when they synergies between them and existing Opels make the variety worthwhile?
For the record, I still see Fiat as a rank outsider to get Saab. They’d only get Saab in a scenario where they get Opel and negotiate Saab into the bargain. And getting Opel is by no means a done-deal.
But if it happens, what Collin says makes some sense – as long as Marchionne’s reported plans aren’t accurate.
If the unlikely happens, to take over Fiat, Opel, which is Saab also saved.
And it is quite obvious and a dream solution for Trollhättan.

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The 2010 Saab 9-5 is so good that Henderson doesn’t want to let it go.

May 10, 2009 in Saabology

A story that’s just come to my attention from the Swedish newspaper, Expressen, states that GM’s new CEO, Fritz Henderson, is appearing reluctant to sell Saab, even preferring that they fail in their bankruptcy proceedings.
The reason?
Because the 2010 Saab 9-5 is apparently so good that Henderson wants to keep it!!
Martin B has sent through a translated summary of the original article:
——
According to Swedish newspaper Expressen, GM´s Hendersson prefers bankruptcy for Saab instead of selling Saab.
The new Saab 9-5 is too good. Therefore GM´s Fritz Hendersson hesitates to sell Saab.
- Fritz Henderson is very afraid to have the Saab as a competitor in the future,” says a source within General Motors.
-Geely has put a lot of effort in buying Saab, but Fritz prefers a Saab in bankruptcy
The new Saab 9-5 superior
Internal GM tests shows that the new 9-5 wins over the praised Opel Insignia.
- Even the Germans regards the 9-5 to be cooler and better than the Insignia, states Expressen´s source.
The Insignia top model – the Insignia OPC – has just been introduced to the market, and the Saab equivalent will be the 9-5 Aero. These two cars were recently tested at GM test track in Dudenhofen, and the 9-5 was a clear winner, which, according to the source frightened the GM staff.
——
Damn right it should frighten the GM staff!!
See what you’ve been missing all these years?
What this is saying, in essence, is that the new Saab 9-5 is so good that Fritz Henderson wants to find a way to keep it in the stable. Selling to a competitor means that they lose it all together.
The article also seems to point to the possibility of pointing Saab towards Fiat, where at least GM can retain a stake in that new entity.
Personally, I think it’s a little conspiritorial. I don’t think GM are that worried about having the 9-5 in someone else’s hands. At Saab’s volumes, it would be the last thing worrying them.
But it is kinda nice to think of Saab leaving a worrying former parent behind.
——
There’s also this in the sidebar:
This determines the future of Saab
GM bankruptcy
Much talk to General Motors out of business May 31. Then the Saab’s reorganization is strong to support Saab further until a buyer places a bid for the American manager.
Fritz Henderson
Unless the General Motors remission of debts in the region of SEK 10 billion to Saab’s new owners, there is no way anyone can afford to buy. Henderson can determine whether Saab will go bankrupt.
Fiat bid
There is a bid of Saab from Chinese Geely – but Henderson refuses to sell. Instead, Fiat’s purchase of GM Europe to be a way for Saab to get away. But then expect severe cuts and the likely merger with another brand – such as Opel or Alfa Romeo.
–
Thanks Martin!

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by Swade

Saturday Night Snippets – not so good edition

May 9, 2009 in Archive

The week started with such promise…..but ended with some personal disappointments I’m not allowed to talk about online, as well as the test-drive of my potential new car falling through and my football team losing a game they should have dominated.
Oh well. I’ll BBQ some T-bone steaks in the rain tomorrow and all will be well with the world once again.
——
Fiat’s CEO, Sergio Marchionne has chanelled Chrysler’s chief from several decades ago, Lee Iacocca, by telling the German Government that “if they can find a better deal for Opel [than the one he's offering], they should take it”
I know the German government will have a say in this, but I think he also has to convince GM. Actually, he probably already has.
——
One of Aftonbladet’s bloggers, Johanna Melen, had a quick Q&A with Swedish pollie and player in the Saab situation, Joran Hagglund (please excuse my lack of accents and umlauts)
There is a light in the tunnel for Saab.
So says Jöran Hägglund, State Secretary at the Department. More than any other in the Swedish Government, he has an eye on the former Swedish car’s future.
- Saab has gone from an extremely fragile state and should start seeing some light. Every day increases the positive expectations.
Where will the light (come from)?
- Quite clearly there are a number of seriously interested parties who are able to take over and operate the business. And in combination with Saab’s current owners have the most economic concern, I think that a business easier. It would be good for Saab.
(Will there be) a new owner in the summer?
- I cannot answer today. But I think all parties are working hard to be ready before summer.
——
So…..any of you Swedes seen the fruit of Saab’s new advertising and promotional campaign yet?
Do tell.

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by Swade

Thursday Night Snippets – More Fiat, SOTW and maybe a new car

May 7, 2009 in Archive

Hey all, it seems like it’s a much quieter day.
I need some poll software. Must look in to that.
——
There’s another mystery Fiat report doing the rounds of the news services. The other day we had one called ‘Operation Football’ that pronounced they would cut up to 18,000 jobs, close two German and two Italian factories and cut off both Saab and Lancia.
Today there’s a report being covered by Reuters called ‘Opeation Phoenix’. Once again it’s a tale of factory closures and job cuts.

The proposal for General Motors’ European assets that Italy’s Fiat presented to the German government on Monday includes plans to shrink plants across Europe, a German newspaper reported.
These measures would affect both GM Europe’s and Fiat’s factories, Handelsblatt newspaper said, citing Fiat’s proposal — codenamed Project Phoenix — which it said it obtained.
The 46-page proposal also includes plans to take over GM assets in South America and South Africa.
Fiat would shrink factories in the German cities of Ruesselsheim and Bochum, Spain’s Zaragoza, Sweden’s Trollhattan, and Antwerp in Belgium. German unit Opel would remain headquartered in Ruesselsheim.

So we have two reports from two different newspapers. I’d like to suggest they both can’t be right, but as I wrote the other day, even if they’re both proved to be non-genuine Fiat articles, the truth contained within them will most likely endure.
This will be too many brands.
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Cheap Saabs!!
Any Aussies looking for a cheap runabout can’t go past this 1986 Saab 900 T16 Aero currently for sale on Ebay. It’s reported to be a good runner, has leather, power everything and nice dual pipes out the back. The paint might need some attention, though.
Saab900T16Ebay.jpg
It’s currently languishing without a bit at $1,200. I sold mine just a few months ago for $3,300 so this is a right bargain for an original flatnose Aero.
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Cheap Saabs 2!!!!
How about a Turbo X in the UK for under 22-grand? Our mate Lance Cole picked up on this one.
Whitequay Saab have a Turbo X, manual, with only 10 freaking miles on the clock, for £21,950. They’ve just got it in. It’s so just-in that they don’t even have a photo online for it yet.
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They don’t have a photo of the Turbo X, but how about this lookalike?
Found on Flickr, it was taken by a guy calling himself Total Abstainer. He’s got some very nice Saab shots in the portfolio, actually.
This one’s no exception. An Aero with Turbo X six-spokes, apparently.
Saab9-3AeroSunset.jpg
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A very interesting development from Sweden this morning.
Volvo have had their European Investment Bank loan application denied!!

The carmaker, based in Gothenburg, southwestern Sweden, cited a possible divestment by its US parent company Ford as the reason behind the breakdown in discussions.
The company said in a statement that the decision had been reached “jointly” with the government in light of “Ford’s strategic review which could lead to a sale of Volvo Cars.”
Ford said in March that it was in advanced discussions with potential buyers for its Swedish brand.

Never thought I’d see that.
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Keep your fingers crossed for me.
All going well, I will hopefully test drive what might be my next new car tomorrow. It’s been at the workshop getting a little work done this week, but will hopefully be read to go tomorrow.
I’ll hold off until then but will have a great instructional on how not to sell a car when it’s all finished.

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Avatar of Swade

by Swade

Saab engineers vote for Fiat

May 7, 2009 in Archive

The following is an article from Dagens Industri.
ctm’s been kind enough to manage a proper translation for us, so you don’t have to struggle through one of my Google translations.
Thanks!
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White collar union at Saab: “Fiat the best option”
The engineers union at Saab Automobile are head over heels happy about Fiat’s interest in the company.
- “Of them we know of, Fiat is clearly the best option as the new owner of Saab. We have very good experience in working with Fiat,” says union representative Håkan Danielsson.
Håkan Danielsson works as head of product development in aerodynamics and has experience of several collaborations between Saab and Fiat.
In the early 1980s the companies together developed Saab 9000, Fiat Croma, and Lancia Thema. In the early 2000 they developed a common platform for premium cars together with the Lancia, part of the Fiat group.
- “Although we have different philosophies about technology, it has always been easy to resolve conflicts and problems with Fiat,” says Håkan Danielsson.
He is positive despite the fact that Saab never could use the new platform. Work stopped, but Lancia went on and used it.
- “The reason was that our owner GM then broke with Fiat and gave the platform to them. There was not any problems with cooperation,” says Håkan Danielsson.
Is Fiat a better option than Chinese companies like Geely, Changan or Cherry?
- “Clearly Fiat is more interesting. The cultural difference between us and the Chinese is too large, and they do not have the management capacity required,” says Håkan Danielsson.
He does not hesitates at a choice between Fiat and some venture capital companies or investment companies.
- “An automotive company like Fiat are more in for the long haul than most venture capital firms, and that is needed to succeed in the automotive industry,” he says.
Compared with the cooperation with the GM-owned Opel since 1990, a collaboration with Fiat will be a boost, according to Håkan Danielsson.
- “Opel themselves want to stray into the premium market, and many engineers at Opel thinks that cooperation with Saab was unnecessary. That has stopped and delayed several projects for Saab,” he says, and stresses that the new four-wheel drive Saab 9-3X was stopped by GM and was delayed by the reason.
- “It will become easier with Fiat,” says Håkan Danielsson.
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It’s a little hard for me to continue on a “No-to-Fiat” platform when you hear stuff like this from the guys who do much of the hard work in making Saabs great.
But I still find it hard to believe that they’ll be working on Saabs in two years time if Fiat are successful in implementing their full plans.

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