REPORT: GM getting Saab ready to stand alone
In the interest of making its Saab brand more attractive for purchase, General Motors is reportedly looking at returning more autonomy to its Swedish subsidiary. As it stands now, Saab is basically a glorified Swedish imprint of the Opel record label. Indeed, a lot of engineering, and even construction, for Saab cars goes on in Russelsheim, Germany, Opel's home. The biggest development is that Saab would gain control over its own finances and decisions. Although GM would still be Saab's owner, the Swedish Patient would have its own budget (a figure that has yet to be determined). The idea behind the move is that giving Saab additional financial autonomy would demonstrate to potential buyers that the division is capable of standing on its own.
If Saab is sold, it will obviously take some time to separate itself from GM platforms, but increasingly independent decision-making could help speed up the process. Saab board members and the president of Sweden's IF Metall trade union feel that a standalone Saab can work and be more enticing for potential suitors. The final verdict will be revealed when GM submits its business plan to the US Government on February 17th.
[Source: Auto News - sub req]
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Reader Comments (Page 1 of 2)
Jeff 1:10PM (1/19/2009)
Thank god. Saab has given so much more than it has received from GM in the last decade. I would love to see this brand come back into its own and show Bob Lutz that there is a much broader market for this brand than GM executive's wives.
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AMcA 9:23PM (1/19/2009)
They need to make Saab into a company that can borrow GM technology for a certain price. Then let them run their own show.
Big chunks of GM technology could be borrowed, for a price, but let Saab put any twist it wanted on it.
It might just work. I might even buy stock, if they (1) had an ironclad supply agreement with GM, and (2) a compelling leader.
I bet the Swedish gov't would invest . . . I think they already have.
Rocketboy 1:16PM (1/19/2009)
The Saab stands alone, the Saab stands alone
Hi-ho the dairy-o
The Saab stands alone.
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Lar 1:25PM (1/19/2009)
Interesting. Inevitable. Can't wait to see what becomes of Saturn.
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James 1:28PM (1/19/2009)
Trollhättan!! Give us back your quirky cars!!!
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Derek 1:56PM (1/19/2009)
Ha, wonder if SAAB starts turning a profit after this move and then GM doesn't want to sell them anymore?
If true, it will be very nice to see more SAABish SAABs again.
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Farmboy 3:36PM (1/19/2009)
I am not really impressed with SAAB. They have never and probably never will be a brand that I consider great at all. I have driven a couple (I forget the models). I was very disappointed with low expectations already set in. What becomes of SAAB doesn't affect me, but I still hope the best for them in these troubling times.
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Other Man 1:56PM (1/19/2009)
2010 Saab 9-5 FTW!
Please make it good!
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Other Man 1:57PM (1/19/2009)
They already said Saturn will die off.
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firstplace 7:06PM (1/19/2009)
never mind that they sell 10X the number of cars saab does... I think they should both get the axe, they both aren't even successful nich players.
Other Man 7:12PM (1/19/2009)
Yeah but that's like saying Lexus should die because Scion sells more cars.
Saab is a premium brand, and Saturn is not. Premium brands usually don't sell quite as much.
Saturn sales pretty much are just eating into Chevy and Pontiac anyway, that's the problem.
JRA 1:59PM (1/19/2009)
Wow, that's good news. I was expecting a quick sale or a quick death for Saab, but becoming semi-independent in hopes of being sold off later sounds like a much better option. Let's just hope that GM doesn't give Saab a severely limited budget.
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Ebm14 2:12PM (1/19/2009)
Maybe we will see some more traditional cars from the Swedish maker instead of Opels and Chevys.
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Fara 2:28PM (1/19/2009)
Woo. I like Saab, and I drive a 9-3. But I want more saabish saabs, which have been lacking for a while.
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P.V. 2:38PM (1/19/2009)
I fully support this notion. SAAB needs to return to its roots of making quirky, fun-to-drive cars (no more Opel rebadges)!
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jsr 3:12PM (1/19/2009)
It should have been that way from the get go. When you buy a Saab you buy a Saab not some hybrid badge engineered sucky opel general motors parts bin po po wagon.
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jim 3:03PM (1/19/2009)
All you accountants out there, is there financial statement advantage of having an independent subsidiary go bankrupt on its own?
Also a better way to squeeze cash from the Swedish government.
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gpg 3:06PM (1/19/2009)
Great News. Bring out a 9-1(9-x BioHybrid), 9-4 x, new 9-5 and get rid if the 9-7x. Begin development of a new 9-3,9-3x and new hatchback. Presently have 3 Saab's in the family and will continue to enjoy them if they are Saabs and not a rebadged GM.
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Brn 3:20PM (1/19/2009)
They're doing this to set up Saab for sale. They may not have decided to sell Saab yet, but if they do, they want to make it easy.
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ChopperDave 3:21PM (1/19/2009)
Best news I've heard all day. We're thinking of defecting right now ... maybe we'll come back if things turn around.
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