Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Saab gets lifeline payment from Youngman]]>http://www.autoblog.com/2011/12/13/saab-gets-lifeline-payment-from-youngman/http://www.autoblog.com/2011/12/13/saab-gets-lifeline-payment-from-youngman/http://www.autoblog.com/2011/12/13/saab-gets-lifeline-payment-from-youngman/#commentsFiled under: , , , ,

Saab auto show stand sign

Just when you thought the lights were dimming for good over at Saab, the Swedish automaker gets a(nother) lifeline. Reuters reports the company has received a last-minute payment from Chinese partner Youngman. A Swedish daily newspaper has said Youngman handed over around $5 million to cover tax expenses and that a further payment of $26.43 million is scheduled to show up on December 14 to take care of unpaid salaries. Youngman will reportedly also pay Saab a further $13.18 million by the end of the year.

It's unclear whether the cash infusion will persuade Swedish courts to continue to protect Saab from creditors seeking payment from the ailing automaker. Saab has enjoyed government protection since finances dried up earlier this year, and the courts are set to rule on whether or not that protection should continue on Friday.

An administrator within Saab has applied to have the company's creditor protection removed on the grounds that the automaker no longer has any funds. Saab has responded by requesting that said administrator be removed from the proceedings. The courts are set to hand down a ruling one way or the other on December 16.

Saab gets lifeline payment from Youngman originally appeared on Autoblog on Tue, 13 Dec 2011 10:19:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>saabsaab bankruptcysaab chinasaab creditor protectionyoungmanTue, 13 Dec 2011 10:19:00 EST http://www.autoblog.com/feed/20126858/article-comments.xml http://www.autoblog.com/feed/2011/12/13/saab-gets-lifeline-payment-from-youngman/20126858/article-detail.xml 20126858 http://www.blogcdn.com/www.autoblog.com/media/2011/12/saab-show-stand-darkness_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/12/saab-show-stand-darkness.jpg <![CDATA[GM moves to sever ties with Saab over Chinese owner concerns]]>http://www.autoblog.com/2011/11/08/gm-moves-to-sever-ties-with-saab-over-chinese-owner-concerns/http://www.autoblog.com/2011/11/08/gm-moves-to-sever-ties-with-saab-over-chinese-owner-concerns/http://www.autoblog.com/2011/11/08/gm-moves-to-sever-ties-with-saab-over-chinese-owner-concerns/#commentsFiled under: , , ,

Saab and GM dealership signage

Spitting out the equivalent of "No soup for you," General Motors has made stronger noises about shutting Saab off from its technology and component pipeline and the new 9-4X, due to the Swedish company's proposed takeover by Chinese firms Pang Da and Youngman. While the GM statement didn't appear to make a definitive statement of walking away, it did say "GM will not agree to the continuation of the existing technology licenses or the continued supply of 9-4X vehicles to Saab following the proposed change in ownership as it would not be in the best interests of GM shareholders."

The mere fact of the Chinese accessing GM technology is obviously part of it, but this would also involve a Chinese competitor - not a joint-venture partner - ingesting a steady stream of GM's current and ongoing platforms and engineering. Since GM's shareholdings mean it needs to approve a Saab sale, the latest arrangement looks like it's going to take some reworking to come to fruition.

Saab CEO Victor Muller saying "We go back to the drawing board" is admitting that GM's stance all but unravels the Chinese agreement to purchase Saab and provide $850 million in long-term funding. We aren't entirely sure what Muller can do when he gets there: the Chinese are the only suitors on the board, no one knows if they even have government approval yet, and GM is the only company that can keep Saab in products without it costing a lot more than $850 million. But Muller's kept the ball in the air this long, we won't be the ones to count him out yet.

GM moves to sever ties with Saab over Chinese owner concerns originally appeared on Autoblog on Tue, 08 Nov 2011 09:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>9-4xgeneral motorsgmpang dasaab chinaswanswedish automobilevictor mulleryoungmanTue, 08 Nov 2011 09:29:00 EST http://www.autoblog.com/feed/20100986/article-comments.xml http://www.autoblog.com/feed/2011/11/08/gm-moves-to-sever-ties-with-saab-over-chinese-owner-concerns/20100986/article-detail.xml 20100986 http://www.blogcdn.com/www.autoblog.com/media/2011/11/saab-and-gm-dealer-signs_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/11/saab-and-gm-dealer-signs.jpg <![CDATA[Saab's Chinese buyers commit over $850M in long-term funding]]>http://www.autoblog.com/2011/10/31/saabs-chinese-buyers-commit-over-850m-in-long-term-funding/http://www.autoblog.com/2011/10/31/saabs-chinese-buyers-commit-over-850m-in-long-term-funding/http://www.autoblog.com/2011/10/31/saabs-chinese-buyers-commit-over-850m-in-long-term-funding/#commentsFiled under: , ,



Saab may have finally been saved last week when Chinese companies Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co. agreed to buy the Swedish automaker, thus providing some much-needed short- and long-term financing. Pang Da and Youngman purchased Saab for 100 million euros ($142M USD) and they are offering up a €50 million ($70M) bridge loan. Most importantly, the Chinese companies have now pledged €600 million ($854M) in long-term funding. That's assuming, of course, that the Chinese government gives this deal its seal of approval - a very big "if."

According to Saab's restructuring plan, vehicle production will once again resume in Sweden and Mexico, though vehicles may be built in China in the future. Saab is keen to get its latest products - the 9-4X and 9-5 SportCombi - out to its key markets, and hopes to sell up to 55,000 units in 2012, with an even larger goal of moving 205,000 units per year in the long-term. That's very optimistic, especially considering that in 2010, Saab sold just under 32,000 vehicles.

Even so, Pang Da and Yougman are confident that Saab can become a profitable company in the very near future. The restructuring plan states that 2012 and 2013 will be "financial transition years," with full profitability expected in 2014. Follow the jump to read the full release.

Continue reading Saab's Chinese buyers commit over $850M in long-term funding

Saab's Chinese buyers commit over $850M in long-term funding originally appeared on Autoblog on Mon, 31 Oct 2011 10:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chinese automakerspang dapangdasaabsaab chinaswedish automobileyoungmanMon, 31 Oct 2011 10:45:00 EST http://www.autoblog.com/feed/20094525/article-comments.xml http://www.autoblog.com/feed/2011/10/31/saabs-chinese-buyers-commit-over-850m-in-long-term-funding/20094525/article-detail.xml 20094525 http://www.blogcdn.com/www.autoblog.com/media/2011/10/par2191175_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/10/par2191175.jpg <![CDATA[Pang Da, Youngman say original Saab deal still valid]]>http://www.autoblog.com/2011/10/26/pang-da-youngman-say-original-saab-deal-still-valid/http://www.autoblog.com/2011/10/26/pang-da-youngman-say-original-saab-deal-still-valid/http://www.autoblog.com/2011/10/26/pang-da-youngman-say-original-saab-deal-still-valid/#commentsFiled under: , , ,

Saab's Trollhatten plant

As with any good breakup, the recent split between Saab and its Chinese suitors has birthed a bit of he-said, she-said. Automotive News Europe reports that Pang Da and Youngman have announced that their equity deal with the Swedish automaker is still valid even after Saab said that it was cancelling the arrangement. Saab accused both Chinese companies of failing to confirm or fulfill their commitments of interim funding while the automaker underwent government-protected restructuring.

Pang Da, meanwhile, has said that while it never signed an agreement for bridge funding Saab, the company still fully intends to continue to hold up its end of the bargain, including seeking the approval of the Chinese government for the deal. The company has already paid Saab €45 million (about $62M USD) in a separate vehicle purchase deal.

Youngman, meanwhile, notes that it has already paid an $11 million bridge loan. Both Youngman and Pang Da have indicated that they are still willing and able to help Saab with short and mid-term funding options.

Pang Da, Youngman say original Saab deal still valid originally appeared on Autoblog on Wed, 26 Oct 2011 13:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>pang dasaabsaab chinaswanswedish automobilevictor mulleryoungmanWed, 26 Oct 2011 13:31:00 EST http://www.autoblog.com/feed/20090972/article-comments.xml http://www.autoblog.com/feed/2011/10/26/pang-da-youngman-say-original-saab-deal-still-valid/20090972/article-detail.xml 20090972 http://www.blogcdn.com/www.autoblog.com/media/2011/10/saab-trollhatten-plant_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/10/saab-trollhatten-plant.jpg <![CDATA[Saab signs second partnership with China's Youngman]]>http://www.autoblog.com/2011/06/13/saab-signs-second-partnership-with-chinas-youngman/http://www.autoblog.com/2011/06/13/saab-signs-second-partnership-with-chinas-youngman/http://www.autoblog.com/2011/06/13/saab-signs-second-partnership-with-chinas-youngman/#commentsFiled under: , , ,

Saab Emblem

Saab has drummed up another Chinese partner. The Swedish automaker has signed a memorandum of understanding with Zhejiang Youngman Lotus Automobile Company for a €245 million ($352M USD) equity sharing distribution and manufacturing deal. The new partner will take on a 29.9 percent stake in Spyker for a total of €136 million at €4.19 per share (about $6), and will have the option to nominate two individuals to the Spyker board. In addition, Youngman will own a 45 percent stake in a manufacturing joint venture with Saab and fellow investor Pang Da, which will own 45 and 10 percent stakes in the venture, respectively.

Youngman, Pang Da and Saab are also set to enter into a distribution joint venture which will eventually see Saab vehicles sold in China. Youngman and Saab will each hold a 33 percent stake in that effort while Pang Da will hold the remaining 34 percent.

The memorandum of understanding is still subject to all of the necessary legal approvals from both the European Union and the Chinese government, and as such, is not binding in any way. Hit the jump for the press release.

Continue reading Saab signs second partnership with China's Youngman

Saab signs second partnership with China's Youngman originally appeared on Autoblog on Mon, 13 Jun 2011 14:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chinapang dasaabsaab chinasaab dealsaab partnershipyoungmanzhejiang youngman Lotus automobile companyMon, 13 Jun 2011 14:01:00 EST http://www.autoblog.com/feed/19965551/article-comments.xml http://www.autoblog.com/feed/2011/06/13/saab-signs-second-partnership-with-chinas-youngman/19965551/article-detail.xml 19965551 http://www.blogcdn.com/www.autoblog.com/media/2011/06/saab-emblem_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/06/saab-emblem.jpg <![CDATA[Spyker to be renamed Swedish Automobile N.V. as Pang Da talks with Chinese gov't.]]>http://www.autoblog.com/2011/05/23/spyker-to-be-renamed-swedish-automobile-n-v-as-pang-da-talks-wi/http://www.autoblog.com/2011/05/23/spyker-to-be-renamed-swedish-automobile-n-v-as-pang-da-talks-wi/http://www.autoblog.com/2011/05/23/spyker-to-be-renamed-swedish-automobile-n-v-as-pang-da-talks-wi/#commentsFiled under: , , , ,

saab badge

Spyker is on a Chinese money hunt, and it appears the automaker may have found a partner willing to pony up the cash. Pang Da, a Chinese automobile distribution company, had recently entered into a memorandum of understanding with Spyker. Now, Spyker is set to rename itself Swedish Automobile N.V., and the Saab-owner believes Chinese authorities will give the green light for this deal to proceed.

According to Saab CEO Victor Muller, a very important portion of the deal has already gone through; a cash infusion of €30 million ($42M USD). Muller states that "Pang Da's advance payment and sales of imported Saab cars are not subject to approval from the NDRC. The first advance payment of EUR 30 million was received last Tuesday."

Bloomberg reports that the rest of the deal may not move forward so easily. According to analysts in China, the country's government is unlikely to allow Pang Da's purchase of a stake in Swedish Automobile N.V. because the nation is working to consolidate its auto industry, not expand it.

If approved, however, Pang Da will spend $91 million and receive a 23 percent share of the automaker's business. Despite the negative view of Chinese analysts, Pang Da says it remains confident the transaction will be approved.

Continue reading Spyker to be renamed Swedish Automobile N.V. as Pang Da talks with Chinese gov't.

Spyker to be renamed Swedish Automobile N.V. as Pang Da talks with Chinese gov't. originally appeared on Autoblog on Mon, 23 May 2011 13:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chinapang dasaabsaab chinaspykerspyker chinaswedish automobile nvMon, 23 May 2011 13:29:00 EST http://www.autoblog.com/feed/19947466/article-comments.xml http://www.autoblog.com/feed/2011/05/23/spyker-to-be-renamed-swedish-automobile-n-v-as-pang-da-talks-wi/19947466/article-detail.xml 19947466 http://www.blogcdn.com/www.autoblog.com/media/2011/03/21saab95fd2010_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/03/21saab95fd2010.jpg <![CDATA[Saab deal with Chinese partner collapses]]>http://www.autoblog.com/2011/05/12/saab-deal-with-chinese-partner-collapses/http://www.autoblog.com/2011/05/12/saab-deal-with-chinese-partner-collapses/http://www.autoblog.com/2011/05/12/saab-deal-with-chinese-partner-collapses/#commentsFiled under: , ,

saab logo

This is very bad. Remember the deal between Hawtai Motors and Saab? Collapsed. According to The Detroit News, the deal, which involved a 29.9 percent stake in Saab in exchange for $172 million, fell apart early Thursday morning. The problem was reportedly that Hawtai wasn't able to obtain all the stakeholder consent needed, forcing the Chinese automaker to terminate the pact. Saab and Hawtai are reportedly continuing to work on resurrecting a deal, but the Swedish automaker has said in a statement that the talks are no longer exclusive.

Meanwhile, Saab is still in talks with the European Investment Bank to complete a $41 million loan drawdown. Saab is reportedly waiting on the green light to sell some of its property, since the land is currently used as collateral with the Swedish National Debt Office. The battered brand has secured a $48 million Swedish government loan to keep the doors open for the short term, and the automaker is reportedly still looking to strike a deal with Russian investor Vladimir Antonov.

Will the collapse of the Hawtai Motors deal lead to the final demise of the rope-a-dope automaker? We're not so sure - Saab's been something of a financial Houdini over these last 18 months, and the automaker appears to have deals cooking all over Europe. Either way, we're guessing that Priority Number One at Saab is finding a new Chinese partner to help secure the future of the company.

Saab deal with Chinese partner collapses originally appeared on Autoblog on Thu, 12 May 2011 09:56:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>eibgovernment loanshawtaihawtai motorssaabsaab chinaspykerswedenThu, 12 May 2011 09:56:00 EST http://www.autoblog.com/feed/19938652/article-comments.xml http://www.autoblog.com/feed/2011/05/12/saab-deal-with-chinese-partner-collapses/19938652/article-detail.xml 19938652 http://www.blogcdn.com/www.autoblog.com/media/2011/04/saab-logo_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/04/saab-logo.jpg <![CDATA[Saab to celebrate Chinese and Russian partnerships with global tour]]>http://www.autoblog.com/2011/05/04/saab-to-celebrate-chinese-and-russian-partnerships-with-global-t/http://www.autoblog.com/2011/05/04/saab-to-celebrate-chinese-and-russian-partnerships-with-global-t/http://www.autoblog.com/2011/05/04/saab-to-celebrate-chinese-and-russian-partnerships-with-global-t/#commentsFiled under: ,

Saab emblem

So far in 2011, Saab has been riding a ragged roller-coaster filled with major ups and downs. Just recently, however, things have been trending more positively. Saab inked a deal with Chinese automaker Hawtai that will pump in millions of dollars, and open up major inroads to the vastly expanding auto industry in China. The Swedish automaker is understandably excited by this new deal, and has decided to embark on a global tour to highlight its new partnerships.

Besides discussing its new manufacturing teammate Hawtai, Saab will also bring Russian investor Vladimir Antonov along for the ride, once his deals have gone through. Victor Muller, Saab Chairman, wants the world to meet Saab's newest partners. All involved parties will be hitting the road to reach out to the world-wide media, once all respective deals have been finalized and approved.

Saab to celebrate Chinese and Russian partnerships with global tour originally appeared on Autoblog on Wed, 04 May 2011 15:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chinahawtairussiasaabsaab chinasaab russiavladimir antonovWed, 04 May 2011 15:32:00 EST http://www.autoblog.com/feed/19931619/article-comments.xml http://www.autoblog.com/feed/2011/05/04/saab-to-celebrate-chinese-and-russian-partnerships-with-global-t/19931619/article-detail.xml 19931619 http://www.blogcdn.com/www.autoblog.com/media/2009/12/saab-badge_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2009/12/saab-badge.jpg <![CDATA[Saab sells 30-percent stake to Hawtai]]>http://www.autoblog.com/2011/05/03/saab-sells-30-percent-stake-to-hawtai/http://www.autoblog.com/2011/05/03/saab-sells-30-percent-stake-to-hawtai/http://www.autoblog.com/2011/05/03/saab-sells-30-percent-stake-to-hawtai/#commentsFiled under: , , , ,

Saab logo

Swedish automaker Saab has officially confirmed that the company has sold up to a 29.9 percent equity share to Chinese automaker Hawtai Motor Group Company Limited. The €150 million deal includes a €120 million subscription deal for 24.6 million shares of Saab, as well as a €30 million convertible loan. The deal still needs approval from various Chinese and European agencies, including the European Investment Bank and the Swedish National Debt Office. According to Saab, if finalized, the deal will provide mid-term financing for the company's operations and open up inroads into the thriving Chinese auto market.

Hawtai was only founded ten years ago, though its two production facilities have a combined capacity of 350,000 vehicles, 300,000 clean-diesel engines and 450,000 automatic transmissions. The company says that it plans to up its production capacity to 1 million vehicles by 2015.

According to USA Today, Saab CEO Victor Muller expects Chinese regulators to approve the deal within six to 12 months. Hit the jump for the full press release.

Continue reading Saab sells 30-percent stake to Hawtai

Saab sells 30-percent stake to Hawtai originally appeared on Autoblog on Tue, 03 May 2011 09:56:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>breakingchinahawtaisaabsaab chinavictor mullerTue, 03 May 2011 09:56:00 EST http://www.autoblog.com/feed/19930400/article-comments.xml http://www.autoblog.com/feed/2011/05/03/saab-sells-30-percent-stake-to-hawtai/19930400/article-detail.xml 19930400 http://www.blogcdn.com/www.autoblog.com/media/2011/05/saab-logo-1304430349_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/05/saab-logo-1304430349.jpg <![CDATA[Saab saddles up with Chinese automaker Hawtei]]>http://www.autoblog.com/2011/05/02/saab-saddles-up-with-chinese-automaker-hawtei/http://www.autoblog.com/2011/05/02/saab-saddles-up-with-chinese-automaker-hawtei/http://www.autoblog.com/2011/05/02/saab-saddles-up-with-chinese-automaker-hawtei/#commentsFiled under: , , ,

Saab Emblem

Volvo no longer stands alone as the only Swedish automaker with a Chinese partnership. According to Autoblog.nl, Saab and The People's Republic's Hawtai are reportedly set to announce that the two companies have joined forces. Hawtai, formerly Hautai, is likely best known on this side of the globe for strutting a logo that could have been the bastard child of the BMW roundel and the Microsoft window. At this point, it's unclear exactly what each automaker hopes to gain from the alliance, though something tells us that Hawtai will likely supply the capital needed to keep the lights on at Saab.

The news comes after Saab announced that it had secured a loan to resume production in the short-term.

Autoblog.nl reports that Victor Muller, the current owner of Saab, will be part of an announcement about the Chinese partnership on Tuesday.

Saab saddles up with Chinese automaker Hawtei originally appeared on Autoblog on Mon, 02 May 2011 16:55:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>breakingchinahautaihawtaisaabsaab chinaMon, 02 May 2011 16:55:00 EST http://www.autoblog.com/feed/19929803/article-comments.xml http://www.autoblog.com/feed/2011/05/02/saab-saddles-up-with-chinese-automaker-hawtei/19929803/article-detail.xml 19929803 http://www.blogcdn.com/www.autoblog.com/media/2011/05/saab-emblem-1304368873_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/05/saab-emblem-1304368873.jpg <![CDATA[Volvo denies talk of Saab takeover,<br> Muller looking for partner in China]]>http://www.autoblog.com/2011/04/22/reports-volvo-denies-talk-of-saab-takeover-muller-looking-for/http://www.autoblog.com/2011/04/22/reports-volvo-denies-talk-of-saab-takeover-muller-looking-for/http://www.autoblog.com/2011/04/22/reports-volvo-denies-talk-of-saab-takeover-muller-looking-for/#commentsFiled under: , , ,

Saab logo detail

It looks like Volvo and Saab won't be teaming up to create one Swedish carmaker to rule them all. According to Reuters, Volvo has made it clear that the company has had no talks with Saab about buying the besieged automaker and that none are scheduled to take place. The Swedish newspaper De Telegraf had previously reported that the Swedish government was urging Volvo into talks with Saab about a potential takeover. The move would mean that a government loan previously granted to Saab by the European Investment Bank would have a greater chance of being repaid.

Saab has hit (further) rough waters in recent months with multiple supplier hiccups resulting in production stoppages including instances of the automaker being unable to pay for parts. In addition, sales fell well short of 2010 forecasts, resulting in a further cash crunch. The Swedish automaker has since performed a few economic stunts to get production rolling again, including selling the company's properties and re-leasing them at a lower cost.

In related matters, Automotive News reports that Saab CEO Victor Muller is looking to broker a deal with a Chinese automaker to help finance the company, although it is understood that Beijing Automotive Industry Holding Co. is not one of those parties. BAIC, you may recall, purchased old Saab assets (the previous generation 9-3 model, among other things) back in 2009 for $200 million, and it also expressed interest in buying Saab from General Motors before Muller's Spyker stepped in and completed the purchase.

[Sources: Reuters, Automotive News]

Volvo denies talk of Saab takeover,
Muller looking for partner in China originally appeared on Autoblog on Fri, 22 Apr 2011 13:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>baiceuropean investment banksaabsaab chinaspykerswedenvictor mullervolvoFri, 22 Apr 2011 13:59:00 EST http://www.autoblog.com/feed/19921103/article-comments.xml http://www.autoblog.com/feed/2011/04/22/reports-volvo-denies-talk-of-saab-takeover-muller-looking-for/19921103/article-detail.xml 19921103 http://www.blogcdn.com/www.autoblog.com/media/2011/04/saab-logo_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/04/saab-logo.jpg <![CDATA[Saab readies move into China and Russia, downplays 9-4X diesel]]>http://www.autoblog.com/2010/11/23/saab-readies-move-into-china-and-russia-downplays-9-4x-diesel/http://www.autoblog.com/2010/11/23/saab-readies-move-into-china-and-russia-downplays-9-4x-diesel/http://www.autoblog.com/2010/11/23/saab-readies-move-into-china-and-russia-downplays-9-4x-diesel/#commentsFiled under: , , , , , ,

2012 Saab 9-4X
2012 Saab 9-4X - Click above for high-res image gallery

Saab CEO Jan-Åke Jonsson has provided the wayward Swedish brand with some direction, and the marching orders point out two very large markets for the sales team to focus on: Russia and China. According to a report in Automotive News, Saab will begin distribution in the Chinese market beginning sometime during the 2011 calendar year. Until the launch of the redesigned 9-3, Saab will shoot for a few thousand sales per year. Once the distribution network is in place and the model lineup is refreshed, Saab will look at the possibility of local manufacturing facilities.

Now that China is rolling forward, Saab can start to finalize decisions with regards to the Russian market. No deal has been announced, but one is expected to be made the end of the year. Saab's chairman, Victor Muller, specifically stated at the 2010 LA Auto Show that the both China and Russia are getting a taste of the recently unshackled Swedish brand.

One of the newest expressions of the automaker's freedom is the 2012 Saab 9-4X. Saab offers diesel engines outside of the North American market, and we were curious if this new crossover would also get an oil burner. Per Jonnson, it seems this is highly unlikely:
"If you then look at the life cycle of the vehicle, typically five or six years, before we actually have a diesel engine, we have to find one, we have to test it, we have to install it, validate it, and you are two years into the life cycle... and then you have a very short payoff period."
Understandable, but a bummer nonetheless.

Gallery: LA 2010: 2012 Saab 9-4X

LA 2010: 2012 Saab 9-4XLA 2010: 2012 Saab 9-4XLA 2010: 2012 Saab 9-4XLA 2010: 2012 Saab 9-4XLA 2010: 2012 Saab 9-4X

Photos copyright (C)2010 Jeff Glucker / AOL

[Source: Automotive News - sub. req.]

Saab readies move into China and Russia, downplays 9-4X diesel originally appeared on Autoblog on Tue, 23 Nov 2010 17:59:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>2012 saab 9-4x9-4xchinajan ake jonssonJan-Åke JonssonrussiasaabSaab 9-4xsaab chinasaab russiavictor mullerTue, 23 Nov 2010 17:59:00 EST http://www.autoblog.com/feed/19730434/article-comments.xml http://www.autoblog.com/feed/2010/11/23/saab-readies-move-into-china-and-russia-downplays-9-4x-diesel/19730434/article-detail.xml 19730434 http://www.blogcdn.com/www.autoblog.com/media/2010/11/12-2012-saab-9-4x_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2010/11/12-2012-saab-9-4x.jpg <![CDATA[Report: Saab looking to sell cars in China, Russia, Brazil and Mexico]]>http://www.autoblog.com/2010/10/12/report-saab-looking-to-sell-cars-in-china-russia-brazil-and-m/http://www.autoblog.com/2010/10/12/report-saab-looking-to-sell-cars-in-china-russia-brazil-and-m/http://www.autoblog.com/2010/10/12/report-saab-looking-to-sell-cars-in-china-russia-brazil-and-m/#commentsFiled under: , , , , , ,

2010 Saab 9-5 Aero - First Drive
2010 Saab 9-5 Aero - Click above for high-res image gallery

The next Saab 9-3 will arrive in 2012, so the company is busy digging the sales channels and tributaries that will put the car in growth markets as soon as it gets here. According to Bloomberg, it is negotiating distribution deals in China, Russia, India and Mexico that will give it presences in some locales it hasn't served since 2008, when General Motors pulled back on Saab commitments,

The deals in the works now are for distribution only. Local production in places like China would allow for a far larger magnitude of sales - 5,000 annual sales vs. 50,000, for instance - but Saab's first aim to to build the dealer network by which it can market and sell its cars effectively. It seeks to have deals in place in three of those countries by the end of the year, with an India deal sought by the end of 2011.


Gallery: First Drive: 2010 Saab 9-5


Photos by Chris Paukert / Copyright (C)2010 AOL.

[Source: Bloomberg]

Report: Saab looking to sell cars in China, Russia, Brazil and Mexico originally appeared on Autoblog on Tue, 12 Oct 2010 09:27:00 EST. Please see our terms for use of feeds.

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