If a new report by Autocar is to be believed, Saab may be pushed into bankruptcy as early as later today. According to the British weekly, emergency financial support from Chinese carmaker Youngman is "virtually certain to be blocked" by its home government because the deal does not include any new intellectual property rights. Saab not only needs approval from Chinese authorities to broker the deal, it must also still see its reorganization formalized in Swedish courts.
Saab has been waiting on both a £60 million loan ($94M USD) from Youngman and an additional £210M ($328M) from Zhejiang Youngman Lotus Automobile and PangDa, but to date, funds have not been cleared because of governmental bottlenecks and negotiating hurdles.


I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • 68 Comments
      budwsr25
      • 3 Years Ago
      Why is Spyker unable to get the money it needs to run SAAB? Do they realize how bad this mess is making them look and that it is going to effect the image of the Spyker in general.
        chest rockwell
        • 3 Years Ago
        @budwsr25
        Considering 99% of the US population has no idea who Spyker is or what they make, I don't think their reputation is at stake.
        guyverfanboy
        • 3 Years Ago
        @budwsr25
        At least Spyker was not sold to Cerebrus!
        • 3 Years Ago
        @budwsr25
        [blocked]
      kmagman
      • 3 Years Ago
      Well, I have spent many hours this month trying to find spare parts for my beloved '93 Saab 900 Convertible ... and they are out there if you look hard enough! Talked to Saab today and they can no longer source the parts. Great cars that were well ahead of their time in the '70s and '80s ... at least I rarely see another one on the road anymore. What a shame!
        PJPHughes
        • 3 Years Ago
        @kmagman
        What parts are you looking for? Have you tried www.thesaabsite.com or www.partsforsaabs.com? The former has most everything you'd need. I have a '94 900TC and haven't had any issues.
      tenspeeder
      • 3 Years Ago
      Sadly, it just always seemed inevitable. Never did fully believe the Chinese money would truly surface
        hobbesfanmaster
        • 3 Years Ago
        @tenspeeder
        I beg to differ... I think you did believe the money would make it... When? That is a different story. I feel as though the money will make it through; it's Youngman's future investment at stake, as well.
      mtroddyn
      • 3 Years Ago
      I own a 2005 93. Great power and handling. Interior somewhat cheap. Electronics faulty. Died on me...twice. Questionable reliability to say the least. SAAB would have to come up with one heck of a winner...a bread and butter car, if it wants to survive. I think it needs to come up with something that could compete with VW. It's just not anywhere near a Volvo, Audi, or BMW.
      kochiemonster2
      • 3 Years Ago
      I thought that Spyker was supposed to be so deep pocketed that they could keep Saab afloat until it's superior technology and performnce/luxury features regained it's necessary marketshare again.
      chaaargerb
      • 3 Years Ago
      Sweet Cars. Hard to get parts but better then most US cars. GM didn't help by putting there Crap V6 in them. Long Live Saab
        whofan
        • 3 Years Ago
        @chaaargerb
        Engines and transmissions is one thing GM done better than most. A GM V6 is probably better than Saab`s engine.
      Westcoastsaab
      • 3 Years Ago
      The Chinese investors are playing a classes cat and mouse game in acquiring Saab. The brand will remain in place, just on a lesser and more specialized scale. Look for aggressive cost cutting and a streamlined and updated product offering. They all wrote off Apple in similar fashion as a boutique high priced brand that no one wanted?? In the end, Saab owners are loyal, and if they restructure with updated and cool "have to have" cars then it's for the best anyway. The key is leadership. An automotive Steve Jobs!! Parts and pieces will be start to source from China as to cut costs.. The Swedish government is not about to say goodbye to thousands of jobs in this economy are they? This is a soap opera with lots of drama. Anyone familiar with Saab knows the 9-5 would sell very well given some price point adjustment, say more in line with A4 pricing, and the Sport Combi is a hot design awaiting to be built. Saab needs time, cost cutting, and a production line running. Never say never Saab!
      promaxx1
      • 3 Years Ago
      Aholes drive Saab's and Volvo's . Next time you're on the road , the car that's holding up traffic and in peoples way is going to be a Sabb or Volvo guaranteed . Honda CRV drivers are a close second . Truth .
        flbuyer1
        • 3 Years Ago
        @promaxx1
        wow-you're an idiot.
          Tuga
          • 3 Years Ago
          @flbuyer1
          Now that's the Truth.
        The Friendly Grizzly
        • 3 Years Ago
        @promaxx1
        You left out the Prius driver in the passing lane doing 62.7 MPH because that is where his mileage meter says he is doing the best.
        • 3 Years Ago
        @promaxx1
        [blocked]
      • 3 Years Ago
      [blocked]
        The Friendly Grizzly
        • 3 Years Ago
        Why don't we? If the independents build a product that sells, they have every reason to remain in business. Not all of us want a Camry.
        OrderOfMen
        • 3 Years Ago
        I think you could not be more wrong. We need more small automakers and less sheep like you.
        guyverfanboy
        • 3 Years Ago
        I don't know what the hell you are saying, but Mazda has some very exciting products in its pipeline!
          The Friendly Grizzly
          • 3 Years Ago
          @guyverfanboy
          Mazda is about the ONLY Japanese make will give a second look. The rest are either boring, too expensive, or not what I am looking for.
        • 3 Years Ago
        [blocked]
      johnria
      • 3 Years Ago
      I owned a Saab and it by all accounts the best riding piece of garbage on the road. This was brand new car. The windshield leaked. The exaust pipe broke and fell off which made the car sound like a hotrod. The fuel tank leaked. The airconditioner did not work properly. It worked for about twenty miles and then it started pumping hot air into the car. The ignition switch broke. When I tried to fix it I noticed that a special tool was needed to do the repair. The tool was only available at the dealer. I drove forty miles to get to the dealer to find out that the dealer was not authorized to sell the tool for proprietory reasons. I was forced to tow the car to the dealer to have it repaired. The car drove like a dream but with all the troubles and stone walling from the dealership and Saab America I suggest that you stay away from this car as far as possible. It is the worst car I ever owned.
        Carter R Bishop
        • 3 Years Ago
        @johnria
        I have a 2008 TurboX Sportcombi and it has 50K on it. The only thing I have done to it is oil changes and new tires. The car is rock solid and fun as hell to driver. You probably didn't take care of your SAAB. What you state simply is not realistic, you are the one blowing hot air, not your SAAB.
          NightFlight
          • 3 Years Ago
          @Carter R Bishop
          The TurboX was an overpriced joke. How much is it worth now? Nothing, like all Saabs because their resale value is abysmal. Also, 50,000 miles and no problems is nothing to brag about.
          Jim
          • 3 Years Ago
          @Carter R Bishop
          The Turbo X is an amazing car. Saabs new product is promising... I think they will ultimately make it.
        flbuyer1
        • 3 Years Ago
        @johnria
        so let me ask-how old was this car? no mention of the age or mileage.Maybe you're another one of those unrealistic a-holes that expects a used up old car that was never serviced to last forever? just wondering
      BobinCobb
      • 3 Years Ago
      Say "Good night, Sven." Another success for GM management.
        The Friendly Grizzly
        • 3 Years Ago
        @BobinCobb
        More like "another car everyone praises but nobody buys". SAAB was niche market long before GM came into the picture.
          BobinCobb
          • 3 Years Ago
          @The Friendly Grizzly
          The SAAB's were very popular in Europe, I loved to rent 900's when I worked in Europe. Not every car has to sell in large quantities in the US to be a success. Pre-GM the SAAB's were a niche product in the US but very popular in cold climes in Europe. Think BIGGER, not everything happens in Hobokun. I raced the occasional SAAB in autocrosses, hillclimbs and on frozen lakes in the US. They were great cars until the a*****es at GM got them.
        • 3 Years Ago
        @BobinCobb
        [blocked]
      pbijoux68
      • 3 Years Ago
      I have a saab and it is the best car ever! it is my second saab, it is impeccable quality inside and out and drive like a luxury car, turbo engine which makes you pass cars in a very safe way. I am not understanding the lack of interest toward this brand, it is elegant, comfortable but I guess people with money want a car that everyone can recognize like a mercedes or an audi but saab will remain the understated elegance!
        NightFlight
        • 3 Years Ago
        @pbijoux68
        False. People who don't know anything about cars buy Saabs. Drive your Saab back to back with any of the newer models from other brands and you will see why people don't buy them. Compare the resale value of your Saab with any other major brand and you will see why people don't buy Saabs. The dealer network is a joke. The cars are all dated and overpriced. THAT is why people don't buy Saabs.
    • Load More Comments