r.i.p. SAAB



GM TO SHUT DOWN SAAB as Efforts to Sell The Brand Fall Through

Friday, December 18, 2009

General Motors announced today that it will be shutting down its Saab brand,
after several efforts to sell the Swedish carmaker could not be completed.

After a deal to sell the company to Koenigsegg Group AB fell through in November,
GM had been in talks with a small Dutch automaker, Spyker.
But according to a statement from GM Europe President, Nick Reilly,
"it has become very clear that the due diligence required to complete
this complex transaction could not be executed in a reasonable time.
In order to maintain operations,
Saab needed a quick resolution."

Stressing that this is not a forced liquidation, GM plans to wind the company down
in an orderly manner over a yet to be revealed time frame.
Warranties will continued to be honored and parts and service provided
to existing Saab owners.

A conference call is scheduled for later today.
Just read about that. Sad news.

Although Saab has been a shadow of its former self under GM.

I remember when my next door neighbor had a convertible Saab 9000 when I was a kid. Everyone was in awe of the thing. It was a zippy little sports car.
That's the one, Morbs. Looked well 8) at the time and was very zippy. The cabriolet was just something esle....8)8)
GM ruined Saab. I'm in the used car business, Saabs are know as Vauxhalls with expensive problems. 900's were the last of the good Saabs.
First really cool car I sat in and noticed that I was impressed with it, was a Saab back in the early 80's.

Even considered buying one before I went for an Audi instead.

Sad to hear they are gone, but they never really found a niche market to sell to.
saved at the last minute ? ...

GM sells brand to Dutch automaker Spyker

It's official:
After months of wrangling and deep negotiations,
General Motors has agreed to sell Saab to Spyker Cars.
The smaller automaker will form a new company, Saab Spyker Automobiles,
and could possibly compete with GM's Opel brand in the future.

"Today's announcement is great news for Saab employees, dealers and suppliers,
great news for millions of Saab customers and fans worldwide, a
nd great news for GM," said John Smith,
GM vice president for corporate planning and alliances.

The automaker did not release details of the sale, but has set
an afternoon conference call with reporters to discuss the deal.

GM had said it was beginning to wind down the brand,
but analysts said that was likely just a negotiating move in the sale.
The Swedish government intervened, sending dignitaries to Detroit to plead with GM
to keep the brand open. The plant in Trollhattan, Sweden, employs 1,400 workers.

Earlier this month, a group of Saab owners gathered in Detroit
to attempt to persuade GM to keep the brand alive.
Just 28 Saabs filled the lot, and there were as many reporters as protesters.
But one pointed out that this was more people than showed up to protest GM's decision
to kill Pontiac or Saturn.

"I want to see Saab live. I think it would be such a loss,"
said Suzanne Shelata of Hamburg, Mich.
She's been driving her Saab since 1997, and was hoping she'd get a chance
to buy another.

If all goes well, she certainly will.