Saab has announced "that there is a risk of delayed payment of August wages to Saab Automobile employees as some of the funds that were committed by investors may not be paid in time to effect such salary payments."
This news should come as no surprise to anyone paying attention to the Swedish automaker's dire situation over the last several months, but this concluding statement may raise a few eyebrows: "There can however be no assurance that the necessary funding will be obtained or the funds collected." Sure, deep down we all know that, but it sounds pretty ominous coming from the company's official PR department, no? Read the brief statement straight from the horse's mouth after the break.
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SAAB AUTOMOBILE INFORMS EMPLOYEES ON SALARY PAYMENTS

Zeewolde, The Netherlands, 23 August 2011 - Swedish Automobile N.V. (Swan) and Saab Automobile AB (Saab Automobile) announce that there is a risk of delayed payment of August wages to Saab Automobile employees as some of the funds that were committed by investors may not be paid in time to effect such salary payments.

Saab Automobile is taking all necessary actions to collect these funds in time and continues discussions with various parties to obtain additional short-term funding so that the payments can be made, as well as resume sustainable production. There can however be no assurance that the necessary funding will be obtained or the funds collected.


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  • 33 Comments
      CarCrazy24
      • 3 Years Ago
      Hang in there Saab! I need that 9-5 Sport Combi, don't die when nice products are finally coming out!
      tenspeeder
      • 3 Years Ago
      for once in my life I'm actually rooting for the Chinese to swoop in and buy something. Save Saab!
        • 3 Years Ago
        @tenspeeder
        [blocked]
          hobbesfanmaster
          • 3 Years Ago
          Despite their massive empire of car makers that are dazzlingly successful in Asian markets?
      Hossi Blumengaarten
      • 3 Years Ago
      screw GM, those guys knew that Saab was going to die so they sold it to Spyker I hope Saab makes it and is able to kick the living crap out of Cadillac and Buick!!!
        s10
        • 3 Years Ago
        @Hossi Blumengaarten
        Well, in July they sold 22 cars in Germany... While Cadillac only sold 15 (official figures)
      Avinash Machado
      • 3 Years Ago
      Maybe the Swedish government should nationalize SAAB.
      • 3 Years Ago
      [blocked]
      notafan
      • 3 Years Ago
      I really hope the workers get paid somehow. I loved my 92 900T Conv and 97 900S 5 door. Saab buyers used to be loyalists until GM suffocated them to death. Wish SAAB the best of luck crawling their way out of the grave.
        Rob
        • 3 Years Ago
        @notafan
        They were dying before GM got them.All it did was slow the grim reaper down a few years.
        • 3 Years Ago
        @notafan
        [blocked]
      Hampton
      • 3 Years Ago
      SAAB lost their way with product when they tried to compete with Mercedes and BMW using GM tech. SAAB's identity was in their sport utility sports car image that they abandoned. Maybe someone else will pick up the sport utility sports car formula and make it their own.I think it's the next big segment
        jbm0866
        • 3 Years Ago
        @Hampton
        Why does everyone blame GM for this while ignoring the fact that Saab wasn't exactly in good shape before they took over? I'm not a GM fan by any means, but the fact is that Saab has alway been a niche carmaker..not quite premium European like BMW/Mercedes, but not quite mainstream either. Not a good thing for profitability..
          DrEvil
          • 3 Years Ago
          @jbm0866
          jbm0866: Don't waste your time, people will see what they want to see. Acura, Infiniti and Lexus stole/took Saab's bacon. Saab & Volvo had their best years in the early - mid-80s. The japanese luxury brands arrived in the mid-80s. The 2nd generation Legend absolutely killed Saab. More car for less money.
          Hampton
          • 3 Years Ago
          @jbm0866
          They were under GM's mismanagement
      DNB
      • 3 Years Ago
      Stick a fork in it already! It's done!
      Rob
      • 3 Years Ago
      Give your board members a pay increase but do not pay the rank and file workers?. Great way to run a sinking company. The Swedish government needs to put Saab out of it's misery
        hobbesfanmaster
        • 3 Years Ago
        @Rob
        Swedish Automobile board members haven't received payment since JANUARY of 2010!!! They won't be paid until Saab is out of this mess! Stop with the assumptions, and check the facts! http://inside.saab.com/additional-information-regarding-swedish-automobile-nv-supervisory-board-remuneration/
          Rob
          • 3 Years Ago
          @hobbesfanmaster
          Regardless of if the increase is retro active when salaries resume or if currently being paid out is a moot point. It speaks volumes about how this company is being ran.
          hobbesfanmaster
          • 3 Years Ago
          @hobbesfanmaster
          You should realize that this decision took place in May, back when Saab was not inthis predicament. As I said, no compensation for any of the board members has been given since January of 2010. I fail to see how not accepting any money whatsoever on the board's behalf is an example of a poorly-run business; perhaps you could enlighten me on your thinking?
      KAG
      • 3 Years Ago
      I don't see how SAAB will still be around in a couple years unless GM buys it again.
      Hazdaz
      • 3 Years Ago
      Nobody panic! I'm sure their Board Members as well as their CEO will get their checks on time... including the raises they just recently gave themselves. Everyone else? Well, maybe not.
      50 AKA Ferrari
      • 3 Years Ago
      Can someone put this company out of business already!
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