The Wall Street Journal reports Saab has finally filed for bankruptcy protection in a Swedish district court. Saab CEO Victor Muller reportedly turned in the bankruptcy application just hours before a court was set to rule on the company's reorganization. According to the company's Facebook page, the filing comes nearly two years to the day after Saab first learned it would be scrapped as part of the General Motors reorganization.

The latest development in the automaker's tireless fight for survival could be the last chapter in the Saab story. Saab has been in a state of suspended production since April when the company ran out of cash and the company's creditors came knocking. The company then entered into government-sanctioned creditor protection as Muller worked to find investors in the storied Swedish brand.

An on again, off again suitor soap opera carried on for months with Chinese companies Youngman and Pang Da, but repeated cash flow delays and vetos from GM squashed that deal before it could get off of the ground. GM expressed concerns over Saab working so closely with its direct competitors in China when so much of the Saab technological encyclopedia was penned by the American automaker.


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  • 104 Comments
      alexkoolur
      • 3 Years Ago
      I want to steam this guy's tie - the wrinkles really bother me.
      zzzzzz
      • 3 Years Ago
      Youngman, would you like to go to the zoo and see the Pang Da bears?
        • 3 Years Ago
        @zzzzzz
        [blocked]
      stclair5211
      • 3 Years Ago
      It's amazing the way GM just left them to die. They keep GMC and buick around and ignore the incredible international appeal of a brand like Saab. Dumb. As dumb as rebadging opels saturns instead of just launching the Opel brand in the USA.
      Xedicon
      • 3 Years Ago
      They knew 2 years ago they were getting the boot from GM?! You'd think at that point you'd work towards reducing your complete dependency on another companies product, unless contracts were involved.
      jbear10024
      • 3 Years Ago
      In 1986, I was stationed in Belgium. At the local multi-dealer, auto store, across the street from where I worked, I bought a brand new Saab 9.0. It was and IS still the best car I ever bought. If I'd gotten in stateside it would have cost at least $18,500. There I had to wait 3 months for it to be built & delivered, & it cost me $13,600. Saab shipped it home to the states when I left Belgium a few years later, for FREE. All I had to do was drive it off the dock in Baltimore & put gas in it. They paid for ALL the fees. I drove it all over the East Coast, and to Tennesee. Later I drove it across the country in January, all on I-40 to I-5 & up the coast to Washington State. It saddened me when GM got control of Saab. Now it's destroyed by them & filing for bankrupcy. What a shame!?! I will miss the Saab experience. It was the best drive & most comfortable car I ever owned. I drove it all over Europe & the USA & more than got my money's worth. It out did the Audi, BMW, & Volvo's on all counts. The service was remarkable & always with a smile & extra touches, like when I first picked it up, they had a one hour class on the entire car from head to toe. Then when I opened the hatch back there was champagne & a dozen huge, red roses. THAT'S the way to SELL cars! GM NEVER managed to meet that, let alone exceed it.
      Alex740
      • 3 Years Ago
      We'll see how this unfolds, I wouldn't be surprised if someone bought the remainder of the company and reintroduced the brand with the 9-3 replacement which is on a Saab owned platform in several years. It would be a great way for a Chinese investor to pick up a respected European brand and enter the Euro and American markets rather than starting from scratch with a new brand.
        • 3 Years Ago
        @Alex740
        [blocked]
          Alex740
          • 3 Years Ago
          Yes, but what does that matter? It belongs to Saab which means it will be liquidated with the company.
      Weshusky
      • 3 Years Ago
      The was an ad many years ago asking if your car looked like a Europen jogging shoe. I knew immediately they were talking about SAAB. They haven't done much since to erase that memory.
      HH
      • 3 Years Ago
      Spyker/SWAN simply didn't have the capital it takes for the car business. It was never really in the game, it just kept the lights on for a bit longer. The ultimately responsibility lies with GM. True, Saab might have died much sooner without GM ownership. But GM did buy Saab, presumably to save it, so the fact that it failed means it can't escape responsibility. The products tell the story: The 9-3 is Saab's volume car, and it's beyond stale. So was the last 9-5 when it was finally replaced. In the meantime GM gave Saab lame rebadge jobs like the 9-2X and 9-7X that further damaged the brand. How can anyone say that this was not mismanagement? New product is everything in the car business. If you won't have enough of it, you're as good as dead. GM fell down with Saab, no question. That it was GM's veto that killed the Youngman deal just adds insult to injury.
      Cruising
      • 3 Years Ago
      SAAB was not long for this world, talk about LACK OF MARKETING! I swear I can't remember the last time I saw a television ad advertising SAAB vehicles in the past ten years. SAAB was doomed for failure. The general public probably did not even know SAAB still exited until news of it's slow demise. SAAB was due for a brand refresh years ago, to late now. GM tried to save SAAB but at the end of the day the market was not there, instead GM focused more on it's core luxury brands which have been very successful as of late. The market will always dictate who survives and who dies. SAAB has always been the odd ball of GM's portfolio and the sales figures show this. We can all whine all day long about SAAB but the product just did not sell, one can not expect a company that has had twenty years of lack luster sales to survive in the market. SAAB did not make good financial business sense no matter how great the emotional attachment. Old Buicks were crap but people still bought them in hords not SAAB.
      LEDfoot
      • 3 Years Ago
      Honestly, what "tech" is GM keeping out of the hands of the Chinese? I don't really get it. To me, it seems more like GM is really hell-bent on Saab going away, I guess they don't want the risk one of their former brands prosper and become successful once it's no longer with GM.
        Kimura
        • 3 Years Ago
        @LEDfoot
        Such a naive and uninformed post. Well let's see: the 9-3 is built on Epsilon, the 9-5 is built on Epsilon II, and the 9-4x is built on Theta Premium. 100% of Saab's lineup is built on GM platforms using GM technology and parts. The latter two vehicles are thoroughly modern and use advanced technology. GM doesn't want that tech falling into Chinese competitors' hands who can then copy it and sell it for cheaper. GM wants to protect its intellectual property rights.
          Sixten.Sason
          • 3 Years Ago
          @Kimura
          Good point re the platforms, although I suspect GM's issue isn't so much about the Chinese getting their hands on the technology. My guess is that their real issue is the idea of them getting their hands on it without directly paying the General – GM are already selling their tech to China through their deal with SAIC, and I imagine it's that revenue stream that their keen to protect.
        • 3 Years Ago
        @LEDfoot
        [blocked]
      • 3 Years Ago
      [blocked]
        rmkensington
        • 3 Years Ago
        I would bet you money a very high precentage of people who were against the GM bailout are ok with it today. GM has a fairly competitive lineup now.
          aatbloke1967
          • 3 Years Ago
          @rmkensington
          "GM has a fairly competitive lineup now." Yes it does, thanks to models designed and engineered in South Korea and Germany.
          kevsflanagan
          • 3 Years Ago
          @rmkensington
          I'm not fine with it now but I'm not gonna have it rule in my descision to either like or dislike GM. To me it happened I wish it didnt but whatever. GM is doing great now. Now if it went belly up yeah I'd be pissed after we put all our tax money into the company. Some people just can't let things go, they'd rather let the hate fester even well after it has been forgotten or forgiven by the rest of us.
          aatbloke1967
          • 3 Years Ago
          @rmkensington
          Spadaro ... I've been working in said global industry since before you were a mere twinkle in the milkman's eye. Buick is rebadging Opels, Chevrolet's model range is quickly becoming a Korean line-up, and while there's nothing wrong in utilising global subsidiaries, these products aren't leg work. They're wholly foreign products doing the US industry few favours and making them no different to Honda's American operations in essence. Still, when you get out of happier you'll see the big wide world for yourself and it may just shut the tripe which spouts from your gob indefinitely.
      Lost Planet
      • 3 Years Ago
      Saab won't go away. GM filed for bankruptcy too a couple years ago and they came back (unfortunately). It was GM that tried to choke out and run Saab out of business, not the other way around. GM is the British Leyland of today. They are going down the exact same path towards obsolescence - they built it into their products and into their company. It's a long goodbye, GM, too bad it's over now.
        Basil Exposition
        • 3 Years Ago
        @Lost Planet
        What are you babbling about now?
        NightFlight
        • 3 Years Ago
        @Lost Planet
        What in the hell are you talking about? If it weren't for GM, Saab wouldn't have lived past 1993. Get out of here with that nonsense, kid.
        TriShield
        • 3 Years Ago
        @Lost Planet
        Saab is going into liquidation, it is almost certainly going away entirely. GM is huge enough that investment would have flowed in a normal bankruptcy (as it should have). Chrysler was a lot more like Saab, it is very small compared to it's rivals and almost certainly would have gone into liquidation in a normal bankruptcy to pay creditors. Saab is over 1 billion USD in debt. Nobody is going to step up to restart it, it's over.
        • 3 Years Ago
        @Lost Planet
        [blocked]
        selder1958
        • 3 Years Ago
        @Lost Planet
        Hey Lost Planet: What color is the sky in your world?
        Rebadged
        • 3 Years Ago
        @Lost Planet
        Good observation Lost Planet. GM did an awful job at running Saab. It's almost as if they never wanted it in the first place and never tried to understand it or take the company to a higher level like they should. GM is still the same old company it always was and claims to be making changes and improvements in their 'leftovers' from the glory days but I;m certainly not buying it. GM won't be around much longer, that's for sure.
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