SAAB file for bankruptcy

Discussion in 'General Discussion' started by grober, Sep 7, 2011.

  1. grober

    grober MB Master

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    Last edited: Sep 7, 2011
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  2. bpsorrel

    bpsorrel MB Enthusiast

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    Shame...

    ..and just when my 9-3 convertible is up for sale! :(
     
  3. dulayj

    dulayj Active Member

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    Shame indeed!
     
  4. Dr-Nab

    Dr-Nab MB Enthusiast

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    I've grown kind of bored to this ongoing saga that should have been sorted a long time ago but it is sad to see this happen, excusing my ignorance but how does this affect Spyker cars? I thought I read somewhere that they had been sold off or something, would be a real shame if they went under too as they're beautiful cars.
     
  5. C240Sport97

    C240Sport97 MB Enthusiast

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    really not very surprising at all.

    writing has been on the wall since SAAB was rescued. It's Sweden's equivalent of Rover.
     
  6. finisterre

    finisterre Active Member

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    I had 4 900s but abandoned the fold after the 900. I just couldn't see the attraction of the 9-3. Which puts GM in the frame for stuffing the brand.

    Sad though. I always had a soft spot for the viggen in the logo.

    [​IMG]
     
  7. markjay

    markjay MB Club Veteran

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    Not good news, but sadly totally anticipated.
     
  8. A210AMG

    A210AMG MB Enthusiast

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    Sad news

    I wonder what affect that will have on values?
     
  9. markjay

    markjay MB Club Veteran

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    Same as Rover, I guess.

    Someone will take-over the business of supplying spare parts (and will probably buy the factory's stock).

    Dealers will sell any remaining cars in stock as bargain prices.

    Second hand values may suffer slightly but only in the short term - the news about the marque's vulnerability have been spreading for a while now, so most of the volatility-related damage to values has probably already been done gradually over the past year or so.
     
  10. Benzster

    Benzster Active Member

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  11. John

    John Hardcore MB Enthusiast

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    Having driven both, I would argue Saab has the edge over Rover on its products.

    Neither are the best though in any case.

    I am not surprised - when they last disclosed they were having cash flow issues earlier this year, I thought then the writing was on the wall.
     
  12. Smarties

    Smarties Active Member

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    The 'classic' 900 was the last real SAAB, and a brilliant motorcar. The floorpan sharing with Fiat/Lancia for the 9000 (still not a bad car), and GM takeover were the begining of the end. :(
     
  13. bpsorrel

    bpsorrel MB Enthusiast

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    I'll let you know when I manage to sell or part ex mine! :confused:
     
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  14. DrFeelgood

    DrFeelgood MB Enthusiast

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    I wonder how cheap a new 9-5 will get, sorely tempted at under £10k
     
  15. Red C220

    Red C220 MB Enthusiast

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    Saab are not bankrupt, they have filed for Bankruptcy protection which is an altogether different thing. The Americans call it Chapter 11.

    This means they can continue to trade but none of their creditors can take any legal action that will stop the business trading or even call in thier debt.

    The idea is to give them breathing space to reorganise their finances, find investors or potential buyers.

    Obviously it's not good, but it's still a long way from the company ceasing trading (despite the downtime in the factories).
     
  16. John

    John Hardcore MB Enthusiast

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    I wish.
    Even if they do finally go **** up, I think there is something in place which means spares will be produced for 10 years after - so they should be OK.

    Rover spares are produced by a company in China who owns Rover now (Shanghai Automotive?) I think.
     
  17. davidjpowell

    davidjpowell MB Enthusiast

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    It's difficult to see it going any other way than closure. They don't see to be making cars to sell, and it's got to be such an expensive Market to enter who would.

    Existing manufacturers not exactly in the Market either, unless it ends up with a far eastern conglomerate
     
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  18. DSM10000

    DSM10000 MB Enthusiast

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    GM had to guarentee spare parts availability for 10 years post sale as part of the agreement.

    Looks like you sold yours just in time!:thumb:
     
  19. markjay

    markjay MB Club Veteran

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    At any rate, this sort of action will only buy them a one-off (partial) 'erasing' of debt, which is not going to help much if their business model remains flawed.

    In the US they would have had to show that they took cost-cutting measures and have a feasible recovery plan before allowing to emerge from Chapter 11.
     
  20. Red C220

    Red C220 MB Enthusiast

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    China will invest/buy the firm if the Swedish Gov will allow it.

    There is a great deal of intellectual property in Saab, so it has value.

    I'd be extremely surprised if Saab simply ceased trading. I'd be equally surprised if it survived in the form in which we know it now.
     

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