(Transcription of the press conference by ttela.se)
Currently the press conference of Bo Lundgren is ongoing. Mr Lundgren says it will not say anything about the deal.
– It’s been a lot of information in the media that the administrators have begun to move closer to an end, but we will not comment anything about how it goes with the deal.
He is quite ambiguous when he talks about the future of Saab Parts AB. But they are prepared for plan A and plan B.
Now he sees two possibilities. If Saab is sold as a whole, the Debt Office can raise money for the assets it owns. Would Saab however be sold in parts, planning the Debt Office is planning to take over Saab Parts by themselves and drive forward and develop the company further.
Bo Lundgren has been asked if Saab Parts AB can survive as a standalone company.
Questions about Saab Parts survival came up during the press conference and Lundgren explains that it believes in the company to survive the eight years that you otherwise think the Saab owner may need spare parts.
– If you make a sustained effort you have to think longer than eight years and that is why we must work to develop other areas, said Lundgren.
—
All in all it was just another press conference about Saab. There was not much information we did not know after the interview SvD did to Bo Lundgren this morning.
The end of Saab. 🙁
It’s extremely frustrating to see what is now happening to Saab. The last 6 months we were mislead by the administrators to think that they actually wanted to sell Saab as a whole, but it’s pretty obvious now what their intentions were. Politics, ecology and financial interests rule the auto world. Good bye Saab ! You shall live on in our hearts…
I hear all this about parts and the company being brought but my question is does anyone think the new owner will be kind enough and loyal enough to offer a warranty on the saabs that were produced in 2008 until now especially the ones that were sold after gm ceased covering them?
If the conjecture that NEVS is the buyer is true, it seems very unlikely. If NEVS focus is on totally different autos than in the past, they are probably not going to set up a division to support cars they don’t make.
If you purchased a Spyker era Saab I can understand you wouldn’t be happy about this. Unfortunately, your complaint would be more accurately directed at VM & Spyker, who sold cars without funding the warranty. Of course they didn’t fund their suppliers either…
Rich; you get your spares.
Saab parts AB exists, makes spare parts available now and in the future, regardless if it gets bought with the deal or not.
If not sold in the deal, then they continue as a stand-alone company.
What a load of gobbledigoop. Gee they dont like to talk straight do they. what a waste of time!
yeeep……whats that all about in plain english ?
NDO will keep Saab parts AB if NEVS buys Saab Automobile AB, which is quite probable, and will try to get the 2.2 bill Crowns investment back during the next 8 years as they expect that the company stays profitable.
oh !
That can only be good news for existing Saab owners and might even help the ridiculously low resale values to pick up a bit.
Sadly, I can’t see another new Saab ending up in my driveway, but at least I might see a decent part-ex valuation now… 🙁
I dont know what part of the world you live but here in UK, only yesterday i was quoted a ridiculus part exchange price for my 2008 93ss aero, against an Audi. Saleman just did’nt want to know, and he did mention that ” take it while you can ”…..?????
Me too, I live in the Chilterns, UK. I’ve been attempting to sell my 4 year old, very low mileage Saab for a few weeks now and NOT ONE dealer has been prepared to take it in part ex!! As a private sale, I’d be virtually giving it away! It’s a crime! So, if some stability in the parts supply can come, just maybe the values will go up to more realistic figures…
Out of curiosity, how much were you quoted? One BMW dealer said he’d “very reluctantly” take my 2008 Convertible (that cost me £21K as an ex-demo) as part-ex for £7K!!!! What an insult!!
bpsorrel I am a busy and successful retailer of used Saab’s, I cannot comment on the value of your Saab as I do not have enough information with which to offer an opinion, neither do I wish to use a forum such as this in order to tout for business, but let me assure you that the used Saab market is very active and there are models and types of used Saab where I could sell many than I am actually able to buy. That said there are also Saab models that are quite hard to sell, basically the more recent the model, the higher the specification and performance the more desirable the car, almost all my sales are to existing Saab owners or customers who have previously owned Saab’s. So far this year business is up by a good 25% and values are holding stable on the more desirable cars allowing for the monthly depreciation that affects almost all types of used car.
BMW dealers are notorious in the trade for taking advantage of any situation they can, if you approach them with a negative frame of mind any salesman worth his salt will try to exploit the situation in order to maximise the profit and hence his commision, I have purchased Saab part exchanges from turned on BMW dealers where the profit they have taken from me on the Saab part exchange is greater than the profit they made on the new vehicle, yes i am giving them a good price for the car, but they have also managed to “knick” the part exchange from the customer, having succeeded in buying the px at a low price they will be be fully aware of the cars real value to the right trade buyer!
As for parts and servicing, basically very few problems and those problems are becoming less all the time, However Saab Parts has been very poor at publicising it’s existence beyond those already in the know.
If you can afford keeping the 93 aero till it gets an old timer, you could get good value for it 🙂
I will drive my 9-5 NG till the very end but due to all the electronics in the car that one will never become a valuable old timer 🙁
My problem is I don’t want or like to run an older car. I bought my Saab new to have warranty back up etc. I don’t want to keep this car longer than 4 years and risk hefty repair bills (already the drop links are becoming rattly). If I’d know what was coing in just a few months after I bought the car, I would’ve walked away. It’s been a good car, but now I feel I’m stuck with it, and that’s not a happy thought.
That is what I meant; if you can afford buying a brand new car for another four years pleasure and keep your Saab in the garage till it is an old timer; you will again have fun with her.
I still enjoy immensely my 96 when I drive her over the nice and quite roads.
I wouldn’t worry too much about hefty repair bills. You’ll lose a lot more money on buying a new audi and then trying to sell that in 4 years than you would by keeping your relatively new car for another 3-4…
My girlfriend’s 9-3 Viggen from 2001 still runs like it is brand new and it has only had very few items break down on it, none of which rendered the car unusable. As long as you keep the car clean, especially the underside of the car and service it the way it is supposed to, I would doubt you’ll have any big issues with it for the next 5 years!
That’s right. I’m mindful of many people in the US who, in 2007/8, sold SUVs at rock bottom prices and bought a hybrid at list cost, convincing themselves they had no choice. A terrible financial decision.
I think you are best to let things settle a bit. Let the others panic sell and then if you want to dump the car, wait until next spring when the demand for convertibles peak, it could be a difference of thousands of dollars/euros/pounds/whateva.
Right at the very start the Option to break up saab into pieces, everyone agreed was the worst case scenario. Well that looks to be happening Volvo were interested in some test equipment (NEVS has a significant relationship with Volvo) NEVS not interested with Saab Parts or Tools. Looks increasingly like they are interested in the technology only. Building cars? Not in the next 5 + years, especially if they have no need for parts distribution. I really hope I am wrong but every day I think it moves in the wrong dirction
To be honest, I rather like the idea of Parts being held by SweGov. There is absolutely no question of SweGov reneging on debts incurred by Parts and so all suppliers will rush to continue to supply to them. If the production of only small batches of Saab dedicated parts means higher prices, then we will have to bear that ultimately, but at least we will be able to keep our cars on the road. If NEVS (or other) were to acquire Parts, then any possible eventual rumours of squeezed liquidity would mean that supplies of parts for existing cars would dry up. IMHO the best situation is that Parts should either be wholly owned by SweGov or run as an independent company.
Totally agree, and then, hopefully, confidence will return to the used market and potential buyers of used Saabs won’t be so worried about the future and maintaining their Saabs.
That is an excellent point. Some stability can return to Saab auto.
Much needed here in the UK. The brand could not be regarded any lower in the motor trade if it tried. 🙁
Indeed a good point.
Of course it was better if a buyer would buy it all but with the day it becomes more clear that production of this generation of Saab cars did come to an end and that we will have two entities soon; one delivering parts to the current Saabs in the market and another that start developing something we only can guess about. That something is hopefully a futuristic car that will be far ahead of all cars that do exist at the moment it can be launched.
Wait and see.
I agree with that too, I was going to add that to my comment but clicked the post link by mistake. We as Saab orphans can help by buy geniune parts for our cars, yes they maybe more expensive but just think of it as insurance for being able to have these parts available in the future. As long as Saab Parts stays profitable as a business the more secure in the hands of the NDO.
So I applaud the NDO for the most rational and sensible decision in this whole god awful mess.
Just to clarify… The breakup of Saab Automobile started way back in the autumn of 2009 when those parts that had some form of long-term value (like Saab Parts AB) were carved out to be held by the state as pawns for the EIB loan.
and aren’t we all mighty pleased they did, otherwise we would all be needing to change our cars in a couple of years.
Right !!
Great pressconference ! At least they keep that tradition up. When will be the next one?
Is it cut and dry that NEVS have bought SAAB? Or could there be a surprise announcement shortly?
Who ever has bought SAAB though I don’t think they will be honoring the 2 years left on my 95 sadly
You mean your two year’s warranty? Beherman in Belux still honours that warranty; no surprises at all.
Yes, I mean I should have 2 years warranty left on the car but not only did SAAB go into receivership so did the SAAB dealer who I bought the car from! A no win situation. One good thing though I love the car
That,s a different story.
My dealer did take Kia as a second brand but luckily still deliver service for Saab as well.
And that runs smoothly; had two small issues which were nicely repaired under warranty.
Hope you do not face too many issues.
Take care.
Being honest, I think all these information only indicate one fact: GAME OVER. Saab will not be reborn!
Please read the words of Mr. Bo Lundgren who stated: “We will take over Saab Parts AB if a purchaser of the estate does not want it.“ No words that someone purchases Saab but Saab’s estates. Obviously NEVS plans to establish its own company in the previous buildings of the Saab manufactory, well that does not make the future company a “Saab company”. I, truly, hope very much that the new company will employ as much former Saab employees as possible and that makes me happy for all of these great and brave fellows. But as a Saab enthusiast, it means that the spirit of Saab died last December…thus, I say:
“It has been a pleasure to belong to the great Saab family and I shall stay there until my beloved Saab gives up but from now on we are driving a car from a company that does not exists anymore….sad, but the truth”.
I really don’t get this anymore. How can the administrators ignore Youngman’s latest bid if their role is to find the buyer with the best offer? It seems like NEVS are not after whole of SAAB, and are no even paying that well. Am I missing something?
How do you know that Youngman’s bid were the best offer?
It was widely publicised that YM came in with a late $552M bid for the whole of SAAB.
I have seen claims in media about it, but that is hardly the same as a fact. Or do you have a statement from Youngman or the lawyers? And again, putting forward a bid of X may not be the same as paying the amount of X tomorrow. Do you have any information on the bid and when/how the payment would be made and for what? And again, Youngman’s track-record on bringing the money is (as you all know) not the best, so maybe the lawyers *and* the creditors don’t care about their promises any longer. They had month after month last year to buy Saab, and it ended in bankruptcy. If they had so much money to pay upfront and were so eager to buy Saab, why wait until now when the company is in pieces and key personnel gone? Why didn’t they buy it one year ago and started development on new models while the company were intact, instead of pushing a production start of something new one more year into the future?
This reasoning is leaking water.
Administrators can’t rely on their gut feelings about Youngman, if they made a valid bid highest of all.
I agree it is incredible to me that a company comes in with $552M to buy the whole company including parts and that is not explored in detail. Was the YM bid a mirage?
Would be nice to hear explanation from administrators once everything is done. I mean, what happened, who was bidders (and how big was their bid + their business plans), what administrators took in consideration and upon what they based their decissions. And back it all up with documentation.
But, i highly suspec that will ever be a case. I dont think everything was “fair-play” and i think there were lot of, lets just say, influences that affected the whole process. Maybe not in begining, but later on. We will never know true indentity of “pupet-master” in background, allthough we have some theories.
Yes, we base our judgements upon information we curently have, but its the only information we have for now. Prepare for the worst and you will not be dissapointed. The whole process should be more open so public (inclusive us) can follow it and have a discussions based on little more then rumors.
I don’t know what to think concerning the future of SAAB as a car manufacturer. Most of the current comments here are negative, I can understand that as the whole picture doesn’t look good at all. I’m sorry, but I can’t make any clear conclusions neither judgements as the secrecy around the whole process have created too many rumours. I would rather wait for an official statement, and I hope this will be soon.
I do know that this weekend, my family and I will enjoy our 9-3, this a pleasure no one can take away from us.
Enjoy your SAABs.
Why so negative, guys and gals? We know NOTHING yet, absolutely nothing, all we know is that there is a no live and kicking SAAB at the moment. According to several sources on the net, and IF Nev will be the new owner of SAAB Automobile the same sources reports that Nevs business plan is to build an electric Saab 9-3 and then a Minimize Japanese electric vehicle might be built on license. A third step is, according to among others Svenska Dagbladet to develop the new generation of 9-3 on the unfinished Phoenix platform and as far as I know that platform is prepared for hybrid drivelines.
I see this as great new opportunities for a future SAAB, we must stay optimistic until we know what happen next! A future SAAB should belong among futuristic, environmental, practical and quirky cars fun to drive. Even I am a petrol head I think the electrical vehicle train is leaving the station as we speak, and it will accelerate for electric and hybrid cars out there. Just take a look at Nissan Leaf! I live in conservative Norway, and even here the electric Nissan is already a common sight.
Should SAAB have a chance in the future I think electric and hybrid cars might be the right direction to go. We all know the red sales figures for the beloved SAABs we all drive at the moment. Thats said; I just bought myself another one, a 9-3SS to go alongside with our 9-5SC. My wife and I plan for a bright future with SAABs in our driveway. And now with the parts suplly secured, no worries for me.
For the record: I have drove a Tesla, and it was a blast!
SAAB and the new owner UP! We’ll make it 🙂
Have a nice weekend!
Cheers from Norway
-Olav-
Always on the longest road home when out there with my SAABs. Always!
I can only agree with you, and that you express this optimistic tone is helping me to pass this weekend.
Will there finally a final announcement next week?
Top gear tested the tesla aswell, it kept breaking down, so they reported their findings: It’s rubbish.
Then they got sued by Tesla for it…
why doesn’t youngman or Mahindra just go out and buy saab parts, strike a deal with spycker for the 9-5NG License, say up yours and find a nice place somewhere to start building Spycker/YM/M&M 9-5s , meanwhile throwing the GM stuff out of the 9-3 and giving it their twist and start building those aswell, one hand in the air, middle finger displayed…
😀 i’d lol
I realy hope there will be a market for electric 9-3 so NEVS can re-employ all of former work force that is willing to comeback, to start with. I think thats what truly matters among all those former Saab employees. The rest is easy.
Volume production=lots of employees. Some kind of half R&D + prototypes=forget about big number of employees (us, our fathers, mothers, family, friends…).
So, is there a market for volume production of e-cars? Cos, everything depends on that.
That is ONLY reason im against NEVS, based upon what we know about them today and e-cars in general.
Can someone please give a down to earth translation what it means for current Saab owners?
– Yes we will be able to get parts for a long time?
– No there won’t be made any fossil fuel engine SAAB’s anymore?
– Perhaps in the future some electrical vehicles will have a SAAB batch?
If all true than they finally managed to kill SAAB cars, the dealers can finally close their doors, my SAAB will be difficult to sell, I will have to look for a different branded car (still fossil fuel because I do 220 km a day), and ………. the past months have been a complete waste of time for all who believe in the market potential for normal fossil fuel engine SAAB cars.
All I can say is, my Saab is in good nick, and should still run smoothly with regular maintenance for the next 4 years. By then, if Saabs are still around, i would get a brand new one, be it hybrid, petrol, diesel or fully electric, and i mean it.
Youngman again on DI!
-They came with a new bid on friday morning (today).
-Paying 2,2 billions for Parts so swegov can get their money back directly.
-Youngman has shown proof that money exists (to purchase assets).
-Youngman has accelerated their ambitions to purchase assets and restart production a.s.a.p
-Youngman has continuing contact with administrators and hopes to get into more intensive contract discussion.
-Youngman is pretty convinced they put highest bid and cos of their proof that money acctually exists they consider them to be in good position due to fact that goal is that creditors will get back as much money as possible.
-Youngman’s lawyer in Sweden, Johan Nylén, says Youngman has recived an “acknowledgement letter” from NDRC, which means that Youngmans is the only chinese company that allows buy Saabs assets. This also means that chinese citizens, even in other constellations, are not allowed to aquire Saabs assets.
Thats shortly from article on DI published today at 18:34 local time.