Latest
Open Letters to GM from the SCNA Board
Tuesday, 22 December 2009 02:06

The Saab Club of North America would like to present several open letters from the SCNA board to GM Chairman and CEO, Ed Whitacre, regarding the possible sale of the Saab brand. Click on "Read More" below to continue past the President's letter. If you would like to write to Ed Whitacre yourself, please follow this link to SaabsUnited.com for more details on how to do so.

---

Dear Mr. Whitacre,

On behalf of the many members of the Saab Club of North America I respectfully request that you push for the sale of Saab rather than allowing it to die.

GM would be better off financially with the sale of Saab. The platforms, parts and new SUVs resulting from the manufacture of the new 9-5, 9-4X and the existing 9-3 will benefit Opel, GM and their suppliers, adding to the profitability of GM. The long drawn out process and expense of liquidating an international brand with the many dealerships throughout the World will be far more expensive than selling the brand. This is a passionate plea for all my membership and the many more Saab aficionados Worldwide - please move in favor of selling the brand!

Respectfully,
Ian Glenday
President, Saab Club of North America
www.saabclub.com

Read more...
 
Steven Wade Featured on CNN Website
Tuesday, 22 December 2009 01:55

Steven Wade, founder of SaabsUnited.com, is currently featured on the CNN website in an opinion piece titled, "Let Saab Keep Following Its Own Road."

Wade states his own connection to Saab, then details an accurate history of the brand, in the process making a case for why Saab is not like other companies that have recently closed down operations.

SaabsUnited is currently running a campaign asking every Saab fan to write directly to Ed Whitacre, Chairman and CEO of GM, with a personal, passionate, and curteous note requesting that GM allow the sale to proceed.

 
GM PR: Saab Sale Cannot Be Concluded
Friday, 18 December 2009 17:41

DETROIT -- General Motors announced today that the intended sale of Saab Automobile AB would not be concluded. After the withdrawal of Koenigsegg Group AB last month, GM had been in discussions with Spyker Cars about its interest in acquiring Saab. During the due diligence, certain issues arose that both parties believe could not be resolved.  As a result, GM will start an orderly wind-down of Saab operations.

“Despite the best efforts of all involved, 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,” said GM Europe President Nick Reilly.  “We regret that we were not able to complete this transaction with Spyker Cars. We will work closely with the Saab organization to wind down the business in an orderly and responsible manner. This is not a bankruptcy or forced liquidation process. Consequently, we expect Saab to satisfy debts including supplier payments, and to wind down production and the distribution channel in an orderly manner while looking after our customers.”

Saab will continue to honor warranties, while providing service and spare parts to current Saab owners around the world.

As part of its efforts to become a leaner organization, GM began seeking a buyer for Saab’s operations in January.  Last week, Saab Automobile AB announced that it had closed on the sale of certain Saab 9-3, current 9-5 and powertrain technology and tooling to Beijing Automotive Industry Holdings Co. Ltd. (BAIC).  GM expects today’s announcement to have no impact on the earlier sale.

As the company continues to reinvent itself, GM has been faced with some very difficult but necessary business decisions. The focus will remain on the four core brands – Buick, Cadillac, Chevrolet and GMC – and several regional brands, including Opel / Vauxhall in Europe.  This will enable the company to devote more engineering and marketing resources to each brand and model.

A media conference call with John Smith GM Vice President, Corporate Planning and Alliances will take place at 9:45 a.m. Eastern Time.

Read more...
 
Report: GM to Close Saab
Friday, 18 December 2009 11:20

After "issues" arose during due diligence in Dutch automaker Spyker's bid to buy Saab, General Motors announced today that they have decided to shutter the brand for good. The NY Times and other news outlets are reporting that no other buyers will be considered.

Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time. We regret that we were not able to complete this transaction with Spyker Cars. We will work closely with the Saab organization to wind down the business in an orderly and responsible manner. -- Nick Reilly, President of GM Europe, on 2009-12-18

GM will continue to honor warranties for all Saab cars, and will continue to make parts available for the near future.

 
BAIC Reaches Deal with Saab
Monday, 14 December 2009 11:18

Major news outlets are reporting that BAIC and General Motors have come to an agreement for the acquisition of Saab technology involving the present (outgoing) 9-3 and 9-5 models. But far from signaling a liquidation of Saab, the deal is actually expected to solidify the prospects for the brand's continuation. A report in Automotive News noted:

Saab believes that a deal to sell some key assets to Beijing Automotive Industry Holdings Co. will help secure the money-losing automaker's future. "The money will finance the new Saab and contribute to a good start under new ownership," Saab spokeswoman Gunilla Gustavs said without revealing financial details of the deal.

BAIC will own all technologies and tooling related to the "old" 9-5, and will also obtain minimal technology related to the 9-3 model, according to sources mentioned in the linked article above.

 

 
Jan-Willem Vester, 1958-2009
Tuesday, 08 December 2009 12:00

An official memorial site has been established for Jan-Willem Vester here. In lieu of flowers, the family asks for donations to the Vester Family Trust, and the address is on the site. Just click on the "Donations" link in the menu to the right once you're there.

 
Another Supercar Maker Bids for Saab?
Wednesday, 02 December 2009 01:19

According to an article in Automotive News, Dutch supercar manufacturer Spkyer has submitted a bid to GM to buy Saab outright.

Dutch sports car maker Spyker Cars NV and its Russian owner, Converse Bank, on Monday submitted a bid to buy Saab, according to a source familiar with the matter.

The source said said Spyker submitted a written bid to Deutsche Bank seeking to buy all of Saab from GM. The source declined to reveal the amount of the bid.

Spyker currently makes sports cars priced above $200,000. Also, GM's plans for the brand, such as a new 9-4X crossover, “look extremely viable” to Spyker's management, the source said.

Swade over at SaabsUnited received a note from Christopher Johnston, CEO of Wyoming-based private investment firm Merbanco Merchant Banking, indicating that Merbanco is out of the bidding, leaving Spyker, BAIC and Renco in the "known bidders" column. Johnston had been on the record as being extremely interested in purchasing Saab, and had spoken enthusiastically about Saab's future.

"We were disappointed to learn we were not invited to move forward in our efforts for Saab," Johnston said in an email to Reuters.

 
GM Statement Regarding Saab Negotiations
Tuesday, 01 December 2009 15:13

DETROIT – The GM Board of Directors has received expressions of interest in Saab since the conclusion of negotiations with Koenigsegg Group AB. The Board will evaluate potential bids between now and the end of December. At that time, we will determine whether a suitable arrangement for Saab exists. If not, we will begin an orderly wind down of the global Saab business at that time.

Due to non-disclosure agreements, we will not confirm or comment on any potential transactions or other matters unless, and until, we determine that disclosure is appropriate.

Read more...
 
<< Start < Prev 1 2 3 4 5 6 7 8 Next > End >>

Page 7 of 8