They need to call Darling International rescue
SAAB file for Bankruptcy!
- Thread starter grober
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They need to call Darling International rescue
nick mercedes
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Don't they all lose money?
scumbag
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I thought Volvo were owned by FORD now!
OP
OP
grober
MB Master
this from 4car:-
Saab is planning to split from General Motors and is seeking funding from public and private sources to become an independent car company.
They are putting together a survival plan to include a reorganisation process and that plan will be presented to its creditors in three weeks' time.
It wants to bring all its design, manufacturing and engineering facilities and activities back to Sweden, and says that launching the new-generation 9-5, 9-4X and 9-3X is still feasible. Managing Director Jan-Ake Jonsson said yesterday: 'We explored, and will continue to explore, all available options for funding and/or selling Saab and it was determined a formal reorganization would be the best way to create a truly independent entity that is ready for investment. 'With an all-new 9-5, 9-3X and 9-4X all ready for launch over the next year and a half, Saab has an excellent foundation for strong growth, assuming we can get the funding to complete engineering, tooling and manage launch costs. Reorganisation will give us the time and means that help get these products to market.'
Saab says it will continue to operate as usual and in accordance with the formal reorganisation process, with the Swedish government providing some support during this period.
However, the Swedish government has indicated that it is not prepared to fund a full-scale bail-out, and Saab is thus seeking funding from a number of other sources.
As someone else mentioned they will still need access to the new GM Epsilon floor pan/chassis but I guess that could be part of the "severence package"
Personally I feel they need to reposition themselves in the market also. They did well as a ( perceived ) slightly superior product to the mainstream manufacturers Ford, Vauxhall, Opel, VW Peugeot and Renault ( a history of motorsport success helped a bit
). Their model prices and servicing costs reflected this 
-------then they decided to take on the big three MERCEDES, BMW and the new kid on the block AUDI. 
They tried to move upmarket with their new models accompanied by increases in ownership costs.
Altho their cars were good value in a certain sector of the market they failed to cut it in the " executive car park" by poor quality, reliability issues high service costs for a "parts bin" car ( most people were aware of their GM links) ,and horrendous depreciation. Eventually they started to offer cars at realistic prices with 95s being offered about £10k below list price which was more accurate reflection of their market positioning/value IMHO. 
Pity they hadn't done that in the first place- they might have sold a lot more cars and in this mass production game game "the more the merrier" It wasn't that a niche for them didn't exist with the demise of the the ford grenada and vauxhall/opel omega. You will gather I have a weakness for big "cheap and cheerful" cars.
Saab is planning to split from General Motors and is seeking funding from public and private sources to become an independent car company.
They are putting together a survival plan to include a reorganisation process and that plan will be presented to its creditors in three weeks' time.
It wants to bring all its design, manufacturing and engineering facilities and activities back to Sweden, and says that launching the new-generation 9-5, 9-4X and 9-3X is still feasible. Managing Director Jan-Ake Jonsson said yesterday: 'We explored, and will continue to explore, all available options for funding and/or selling Saab and it was determined a formal reorganization would be the best way to create a truly independent entity that is ready for investment. 'With an all-new 9-5, 9-3X and 9-4X all ready for launch over the next year and a half, Saab has an excellent foundation for strong growth, assuming we can get the funding to complete engineering, tooling and manage launch costs. Reorganisation will give us the time and means that help get these products to market.'
Saab says it will continue to operate as usual and in accordance with the formal reorganisation process, with the Swedish government providing some support during this period.
However, the Swedish government has indicated that it is not prepared to fund a full-scale bail-out, and Saab is thus seeking funding from a number of other sources.
As someone else mentioned they will still need access to the new GM Epsilon floor pan/chassis but I guess that could be part of the "severence package"
Personally I feel they need to reposition themselves in the market also. They did well as a ( perceived ) slightly superior product to the mainstream manufacturers Ford, Vauxhall, Opel, VW Peugeot and Renault ( a history of motorsport success helped a bit
). Their model prices and servicing costs reflected this -------then they decided to take on the big three MERCEDES, BMW and the new kid on the block AUDI. They tried to move upmarket with their new models accompanied by increases in ownership costs. Altho their cars were good value in a certain sector of the market they failed to cut it in the " executive car park" by poor quality, reliability issues high service costs for a "parts bin" car ( most people were aware of their GM links) ,and horrendous depreciation. Eventually they started to offer cars at realistic prices with 95s being offered about £10k below list price which was more accurate reflection of their market positioning/value IMHO. Pity they hadn't done that in the first place- they might have sold a lot more cars and in this mass production game game "the more the merrier" It wasn't that a niche for them didn't exist with the demise of the the ford grenada and vauxhall/opel omega. You will gather I have a weakness for big "cheap and cheerful" cars.
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Saab may have to close all Swedish based production and move to a low wage/tax economy like Slovenia.That's were things like the successful Kia ceed are designed and made.
The problem is money, who is going to stump up the $800 subsidy pa GM currently give them and pay for the bought in GM platform and running gear ?
It's against EU rules, but the French state give huge handouts to Renault, which is effectively a nationalised company. Difficult to see the Swedish Government entering a long term commitment like that.
The situation at Volvo is different, they are a much bigger company and sell into markets like Germany where Saab have little presence.Volvo also has access to superior Ford running gear. Cars like the XC90 and others have been successful in the US and UK.
The problem is money, who is going to stump up the $800 subsidy pa GM currently give them and pay for the bought in GM platform and running gear ?
It's against EU rules, but the French state give huge handouts to Renault, which is effectively a nationalised company. Difficult to see the Swedish Government entering a long term commitment like that.
The situation at Volvo is different, they are a much bigger company and sell into markets like Germany where Saab have little presence.Volvo also has access to superior Ford running gear. Cars like the XC90 and others have been successful in the US and UK.
The French have never been known to take too much notice of EU rules .. despite being one of the big beneficiaries of EU farm subsidies
hawk20
MB Enthusiast
Yes; but Ford would sell for the right price (like they did Jaguar and LandRover) and may well be forced to do so just to survive.
One of the car industry's problems is that every time someone loses a bucket of money, instead of just letting them die, some other firm buys them. So instead of getting rid of all the excess capacity it continues. Happened with Rolls Royce, Bentley, Aston Martin, Jaguar, LandRover, Volvo and Saab.
One problem is that eveyone wants to get in on the luxury car market as the profit per car is greater so every defunct luxury brand seems to have a willing buyer.
Druk
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Saabs were summed up nicely by Jason Dawe in today's Sunday Times:
In cardigan country
Spot on!
Can't beat a nice warm cardie for nipping down the hairdressers.
scumbag
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That makes sense.
One thing I never understood about Ford is, they bought Jaguar when it was making no money, and Aston Martin that never made money, then they spend money on them, and just when it looks like they might reap the reward, they sell them on, and moan they have no money.
strange carry on.
Mind you, I am not sure I want a VOLVO sourced satnav in my Aston. And them stupid FORD keys that look so feeble.
And the ASTON DB9/XK series. look at them closely. same car. people moan about porsche having lazy designers, but just tarting up, or dressing down a car isn't what I would call design.
Oh well.
either market forces will put them out of business, or the tax payer will keep them in business.
