SAAB file for bankruptcy
- Thread starter grober
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they have not built a single car since June 11
I don't think the chinese investment will appear .. just like it did not in the last days of Rover.
SAAB is over.
I don't think the chinese investment will appear .. just like it did not in the last days of Rover.
SAAB is over.
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The Chinese might still buy them... or rather their assets and IP after they do finally go belly up... just like they did with Rover.
The Swedish government will no doubt be under great pressure to intervene and save jobs - after all, the American did with their auto industry, and most EU governments followed suit with scrappage schemes, so the expectations from the Swedish voters will definitely be there......
The Swedish government will no doubt be under great pressure to intervene and save jobs - after all, the American did with their auto industry, and most EU governments followed suit with scrappage schemes, so the expectations from the Swedish voters will definitely be there......
Red C220
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Saab are owned by Swedish Automobile (formerly known as Spyker) of Holland.
Swedish Automobile are in partnership with Pand Dang and Youngman (two large Chinese firms).
I'd expect to see the existing business allowed to go to the brink before the partners step in with a last minute deal valuing the company at far less than it's worth.
As usual the suppliers and staff will get shafted.
Swedish Automobile are in partnership with Pand Dang and Youngman (two large Chinese firms).
I'd expect to see the existing business allowed to go to the brink before the partners step in with a last minute deal valuing the company at far less than it's worth.
As usual the suppliers and staff will get shafted.
I had a 9-5 Aero Hot for a while, didn't like it one bit so sold it and got a CLK, I think that's the problem with Saab, no sane person is going to buy one for a similar price to an Audi,BMW or Mercedes.
alchemistkevin
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It's quite sad seeing SAAB die a slow death... 
I'd like them to survive, they have a different touch to their designs, not that they've changed a lot in recent years, to the German marques. However, as it's been said earlier in the thread, they simply can't survive with their existing product range.
Senior management would've been a bit more proactive had they any experience of the maiinstream car market, sadly it's either investors or spyker managers at the helm.
I'd like them to survive, they have a different touch to their designs, not that they've changed a lot in recent years, to the German marques. However, as it's been said earlier in the thread, they simply can't survive with their existing product range.
Senior management would've been a bit more proactive had they any experience of the maiinstream car market, sadly it's either investors or spyker managers at the helm.
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!
Yeah, that thought did flash through my mind actually.
As I said above though, I don't think you are stuffed if you still have one but it will be trickier to sell as once the general public gets wind of their issues, it puts them off. However, given mine was a royal PITA to sell even before this news, you aren't going to have a picnic selling one now. I think it will get progressively harder to sell them for a time until the future is ironed out for Saab (like Rovers are still merily being used now).
As said, there is or was a lot of clever stuff with Saabs, and overall I thought my 9-5 was average to good in all honesty, I just don't think the price point they are trying to sell at is possible for their product line up i.e. their new range of 9-5s.
IMO, they've totally screwed up on their engine choices in the new line up and it was only a matter of time before low sales figures were realised. If you are going to make a thirsty quick car and try and sell it for the price of a new 9-5 Aero - it has got to be bloody good which I am not convinced it is.
Couple that with their horrendous depreciation, not-low running costs at a time when most people are reigning in their expenditure - forget it.
I do hope for their sake they are able to carry on but I can't really see how without some major investment or a buy out similar to Rover.
bpsorrel
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Just thought I'd mention, blinding deal on my 9-3 convertible, before it gets part ex'd next week!
http://www.mbclub.co.uk/forums/classifieds-cars-sale/116503-saab-9-3-convertible.html#post1284641
http://www.mbclub.co.uk/forums/classifieds-cars-sale/116503-saab-9-3-convertible.html#post1284641
The _Don
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bpsorrel
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Sad...
The _Don
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grober
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Some heavy political pressure being brought to bear there? 
Don't know how much the Swedish government is financially committed to SAAB's resurrection package? 
They may have worked out its cheaper to pay the workers while still hoping for that Chinese cash injection- if anyone has the spare cash at the moment they have. And they are a nation addicted to gambling after all.
Don't know how much the Swedish government is financially committed to SAAB's resurrection package? They may have worked out its cheaper to pay the workers while still hoping for that Chinese cash injection- if anyone has the spare cash at the moment they have. And they are a nation addicted to gambling after all.
Red C220
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Businesses failing at this size is like a game of chess.
The government are basically weighing up the losses of tax revenue and wellfair payments for redundant staff vs funding the company and keeping them going for a while.
The company have to come up with something logical and reasonable and that's usually enough to get them funding.
When you owe the bank £30,000 it's your problem.....When you owe the bank £300 Million - it's their problem. Same goes for manufacturing companies of this size.
The government are basically weighing up the losses of tax revenue and wellfair payments for redundant staff vs funding the company and keeping them going for a while.
The company have to come up with something logical and reasonable and that's usually enough to get them funding.
When you owe the bank £30,000 it's your problem.....When you owe the bank £300 Million - it's their problem. Same goes for manufacturing companies of this size.
bpsorrel
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I think you're right. The political and financial impact to the region if Saab goes under is enormous, so the government have probably done the right thing. Here's hoping Saab do, finally pull the rabbit out of the bag and get back to building cars again. After all, variety in the motoring world is a good thing...
andyrno1
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My mate had a Saab 900 T16S back in the 90's and it was fast,had individually design and comfort.You didnt see lots of them about and they seemed upmarket for the era.
Vauxhall/GM killed the brand in my opinion.
My hope is that jobs get saved somehow.
Andy.
Vauxhall/GM killed the brand in my opinion.
My hope is that jobs get saved somehow.
Andy.
snoop51
Active Member
Worth saving just for the fact they make much better seats than any other manufacturer IMO 
sl300 ireland
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How come Scania was so sucessful and the car side of the company was poor,didnt they make planes onetime if I remember corectly ??
shame had a nice 99gl once it was a tank
shame had a nice 99gl once it was a tank
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grober
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SCANIA are "dancing the tango" with MAN at the moment as part of VAG's campaign for truck world domination.
VAG evidently own 46% of SCANIA shares and 30% of MAN. FT.com / Companies / Automobiles - MAN upbeat on Scania merger
Dieselman
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They would like people to think that and traded on that image for a long time, but the truth is that SAAB car and SAAB plane companies haven't been linked for over 60 years.
Dieselman
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So why did they go pop and GM have to save them then?
