• Dec 21st 2009 at 5:17PM
  • 19
Saab loyalists can keep their candles burning a wee bit longer as supercar manufacturer Spyker has extended the deadline of its final-final offer for the Swedish brand "until further notice."

Spyker says in an all-too-brief statement (which you'll find after the jump) that it has been in contact with General Motors today following the Dutch automaker's announcement that it had that submitted a new offer that addressed 11 obstacles that had apparently previously stalled negotiations. The renewed offer was set to expire at 5pm Eastern today, but Spyker has seen fit to extend it.

Before backing out entirely and signaling its intent to wind down the struggling Saab brand, General Motors had set a deadline of December 31 to conclude its sale. No word on whether or not the Swedish government is involved in the talks, or if other parties (Mahindra?) may still be in the running. Stay tuned.

[Source: Spyker | Image: Torsten Silz/AFP/Getty Images]

PRESS RELEASE

SPYKER CARS EXTENDS ITS OFFER FOR SAAB.


ZEEWOLDE, The Netherlands (21 December, 2009) – Spyker has been in contact with GM today, and continues to develop its proposal for the purchase of Saab. Spyker has extended the validity of its proposal therefore until further notice
.


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    • 1 Second Ago
  • 19 Comments
      • 5 Years Ago
      i didn't see nearly as many parties interested in Pontiac and Saturn.
        • 5 Years Ago
        GM clearly stated some time ago that the Pontiac name was not for sale. Potential comeback? Or just stopping potential competition from one of the core GM nameplates in the future?

        The Saturn deal was mishandled IMO and no sooner than Penske backed out, GM dropped the axe - all announced in one press release even. Perhaps there would have been more bidders for Saturn if Whitacre were the CEO then? I do recall there being other interested parties competing with Penske initially.
        • 5 Years Ago
        Think about it, SAAB's have been unique cars, designed as an individual brand. Saturns and Pontiacs were basically modified and rebadged versions of other GM bases.

        For a few examples, here are a couple cars that are almost identical, with few body and styling differences (usually lights and dashboards):
        Pontiac Grand Am / Oldsmobile Alero
        Saturn Skye / Pontiac Solstice
        Chevy Cavalier / Pontiac Sunfire

        And the list goes on and on. By narrowing it to four core brands, GM lost none of their vehicles, only badges and colored lights (ahem, *Pontiac*).

        SAAB's core vehicles on the other hand (900 & 9000 and later 93 & 95), actually brought something distinct and unique to the table. It wasn't until GM started throwing scraps at them that their marked diluted. The 'saaburu' 92x was a failure, being a slightly glossed over Impreza, but SAAB did an amazing job of rebuilding the Chevy Trailblazer suspension for the SAAB 97. Some reviews even said it was the best version for sale, though at a price premium.

        SAAB may not have had a large line up, but what they had two good, quality, unique models. The styling and performance, matched with 'right-sized' engines providing both power and low mileage, were the perfect combination.

        I for one really hope santa delivers Spyker and SAAB loyalists a little 'present' this year.
      • 5 Years Ago
      You all talk as if people really bought Saabs and that things have been fine and dandy with it since it was founded. That sure isn't the case and hasn't been before or after GM.

      Saab isn't a viable company. They are a volume automaker with no volume. Without volume you cannot support your plant capacity or continually reinvest in designing parts and new vehicles from scratch. Their cars are unique and quirky to a fault and remained so under GM. Nobody really cares or wants to buy Saabs, especially since they are priced against such heady German competition.

      What exactly is Sypker going to do with Saab to change things? Who are they going to source parts from? GM doesn't want to sell it's latest parts and engineering it uses for the new 9-5, 9-4X, so what does that leave? A big expensive plant? A brand name nobody wants? A 1,000 dealers globally that are all paired with other brands to keep the doors open? What is the point?

      Reality clearly isn't present here on AutoBlog, that's for sure.
        • 5 Years Ago
        No one pretends Saab doesn't have a checkered past but you incorrectly continue to claim that Saab has always been a failure and a completely dead brand when the amount of support and potential investors trying to buy it says completely the opposite. Did you know that before the economic melt down Saab was selling 70,000 cars a year in Europe alone? That's not so bad considering their break even number is 120,000 units worldwide and they got 60% there in 1 market with basically 1 model line as the 9-5 was so outdated that it was barely selling and the 9-2x & 9-7x were US only. Meanwhile at the same time GM's beloved Cadillac, Corvette & Hummer brands sold a combined total of just over a 1000 units in Europe even with Cadillac's full line of modern cars and SUVs.

        But none of this is about Saab's past, this is about their future. You don't think Saab can make it but this brand has attracted more interest than any of GM's other troubled brands and the business plan has been approved by the EIB to boot. These investors understand the power of a brand, Saab still has a cult like following with enthusiasts around the world and a name which despite your claims is still respected among the general car buying public whose memory is short anyway. Any negative history can been wiped away in the minds of the public given the right products. A brand can rise up from a bad reputation (hyundai) and when you add in an iconic past like Saab's it can rise completely from the dead even in a market where it was never very popular (Mini).
      • 5 Years Ago
      NG 9-5 passes EuroNCAP with flying colours:

      http://www.euroncap.com/results/saab/9-5/2009/390.aspx
      • 5 Years Ago
      Sweeet!

      This is great news plus it's another European company.
      • 5 Years Ago
      Funny how little suspense there is in a long, drawn out process whose final outcome means absolutely nothing to all except an itty-bitty-tiny fraction of the population.

      Saab has been a dead brand for so long that if there are no takers, GM would simply be burying a corpse that's been above ground for too long already.
      • 5 Years Ago
      SAAB. yes, there is still hope. I have been hoping to buy a used 2010 9-5 in a couple of years.

      I really really really hope this works.
      GM, you know you need the money, just sell it already
        • 5 Years Ago
        Its not that easy. Part of the negotiations may include giving them tech and tooling for upcoming designs already ready, like the the Saab version of the SRX. Maybe GM doesn't want to have to provide that as a competitor if they sell the brand. Maybe the new buyers want it. ITs more complicated then just "they need money." Apparently GM doesn't if they are already about to start paying loans back. Why sell the brand unless its for a decent amount of cash if they are going to have to give up tech. Might be better just to shut it down.
      no1busfan
      • 5 Years Ago
      i want the new 9-5.....but at the same time DIE SAAB, DIE!!
      • 5 Years Ago
      Pontiac was a name, it had no hard assetts. There was nothing for GM to sell, just like Oldsmobile it was a name GM placed on cars. What made Saturn slightly different is that it had a unique dealer network arrangement and that is primarily what GM was selling with that name.

      Penske wanted GM to continue to supply current Saturns for years (and even eat some of the cost), GM is bankrupt and could not afford to do that. Penske could also not afford to keep the current IV going so they tried (stupidly) to go to Korea and source the cheapest possible cars to stick the brand name on. When that didn't work out Penske walked away and rightly so. It would have been a huge debacle for that company.

      Think about how much money and efficiency GM sunk into both Saturn and Saab. An immense amount of money. They did everything possible to streamline the cost in the business to make it profitable. It cost over 3 billion+ alone with Saturn. And it failed. So did Saab.

      Automaking is a business. As illustrated here emotions really cloud reality when it comes to cars. The reality is GM's brands did not have enough people buying them to support them and they lost money hand over fist.

      If GM was smart all of these brands would have been trimmed years ago like Oldsmobile. Or they could have declared bankruptcy to start over ten years ago when it was obvious the customer base to support the brands and make money didn't exist anymore and was shrinking.

      They didn't and the inevitable happened anyway. It's no different with Saab. If by chance Spyker actually does end up with Saab how many more years will the misery be prolonged? Probably not too much unless Spyker has someone with some serious money behind them who doesn't care how much of it is burned.

      We'll see.
      • 5 Years Ago
      I wonder if Vegas is taking bets on if Saab makes it. To bad, they use to make interesting cars up until the 90's. The 900 and 9000 were interesting, but the newer ones seems vanilla.
      • 5 Years Ago
      To all you doubters, the last will be first and the first will be last.
      • 5 Years Ago
      There's no question the newer Saabs were more vanilla. I felt that the quality in the '05 to '09 cars was down substantially from the previous versions. My '03 9-5 Aero wagon has much nicer plastics and better leather than the newer '06 to '09 versions. GM really did nothing to improve the quality in the last iteration. There's an '09 9-5 Griffin wagon sitting at my dealer (at a HUGE discount) which could have my name on it...but there's no point. The 9-3's are very cheap feeling inside as well. That being said, they are built well (for the most part), incredibly safe in a crash, handle well, and most importantly, have great character.

      The new 9-5 is in a whole different class...it really needs to see the light of day!

      Come on Spyker...give Saab fans a great Christmas present!

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