It's a Saab story, we know, but this is – in all likelihood – the end of the road for Sweden's "other" automaker. Sure, there are still talks of one foreign entity or another picking up where GM and Swedish Automobile (Swan)/Spyker left off, but even if they do, they'll have a heck of a lot of work on their hands. And that includes rebuilding its presence in North America.

With the parent company having already filed for bankruptcy in Sweden, the next step is for Saab Cars North America to follow suit, and that's precisely what's happening.

The operation based in Royal Oak, Michigan, ceased operating last month when its parent company did, but resumed distributing parts just this past Thursday. That does not mean, however, that the American business will remain afloat. With no money to keep it going, Saab Cars North America is being liquidated. Sources estimate the company's liquidated assets at around $100 million (give or take $25m), offset by a relatively minor $10.5 million in liabilities.

As for the dealers, they'll have to choose to declare bankruptcy individually or let the administrator dealing with SCNA's liquidation tend to theirs as well.


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
  • 24 Comments
      caddy-v
      • 2 Years Ago
      The end.
      ryan
      • 2 Years Ago
      I dont care for Saabs cars, but i would like to see what a new company could do with them if they start over.
      mazdamattyp5
      • 2 Years Ago
      I contacted 2 local saab dealers and asked for the "fire sale" price on anything they had. I was actually planning to buy something if the offer was good enough. I was told they didn't have to discount their inventory (of 9 cars) because if they couldn't sell them retail they would wholesale them all to rental fleets. When Saturn went under You could've picked up a low-30's Sky Redline for $20k....which I know people who did. These $45k cars are getting what? a few thousand in discount. This is junk. After reading the reviews of the cars I'll stick with Volvo.
      brgtlm
      • 2 Years Ago
      There's a Saab dealer nearby - wonder what the "fire sale" pricing is going to be? Better be good for a dead car company and a vehicle with zero warranty.
        proscriptus
        • 2 Years Ago
        @brgtlm
        Very, very little inventory left anywhere. I imagine most of the value is in real estate, et c.
      centeredtype
      • 2 Years Ago
      just saw the cars mpg. ill skip. those numbers are horrible. they dont even hit 30mpg on highway.
      Matrix
      • 2 Years Ago
      Buy cheap today, cry tomorrow when it breaks down.
      Design1stCode2nd
      • 2 Years Ago
      I wouldn’t touch a 9-5 Aero form more than $10k. Maybe even less, where are you going to get parts if something goes wrong with it?
        AJ Haverly
        • 2 Years Ago
        @Design1stCode2nd
        The parts company is still going in sweden it was profiting so you can still get the parts
        kevsflanagan
        • 2 Years Ago
        @Design1stCode2nd
        Only possible problem will be body parts and some interior bits and piece's. Mechanical bits are all pretty much shared with other GM platforms.
      billfrombuckhead
      • 2 Years Ago
      This is what Romney wanted for the US auto industry. What GM did to SAAB is what Mercedes tried to do to Chrysler. Capitalism is just as much about destroying competition as creating competition. When nations get involved in this competition, it gets really ugly. What if the South Korean government would have let Hyundai go to Daimler instead of bailing their auto industry out?
    • Load More Comments