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[REPORT: Despite selling off old bits to BAIC, Saab brand still in search of buyer]]>http://www.autoblog.com/2009/12/14/report-despite-selling-off-old-bits-to-baic-saab-brand-still-i/http://www.autoblog.com/2009/12/14/report-despite-selling-off-old-bits-to-baic-saab-brand-still-i/http://www.autoblog.com/2009/12/14/report-despite-selling-off-old-bits-to-baic-saab-brand-still-i/#commentsFiled under: , , , ,

2010 Saab 9-5 - click above for high-res image gallery

Here's a little bit more on the salvation/debacle of Saab. First of all, it should be pointed out that after our last report about Holland's Spyker trying to buy Saab, the freaks lovely people over at Saabs United pointed out some gaping holes in our reporting an inconsistency or two with the Reuters/our version of the facts. As such, we've gone ahead and vetted the information we're using for this post with the brain trust over at Saabs United. Hey, they really like Saabs, what can we say? And now, on to the story.

Automotive News is reporting that China's Beijing Automotive Industry Holding Company (BAIC) has reached a deal with General Motors to acquire the tooling for both the Saab 9-3 and 9-5. Not so fast, says Saab's United! What they actually acquired is the tooling for the old 9-5, as well as the stuff for the pre-2006 9-3. Sort of a big difference, as obviously Saab's just getting geared up to roll out the all new 9-5 - and whomever winds up buying Saab will most likely want to offer both it and the existing 9-3 and its derivatives. Spyker's CEO Victor Muller confirms the BAIC deal is for "old equipment" and goes on to characterize the BAIC deal as, "Good news."

Then there's a bunch of no commenting. Obviously, General Motors has no comment on anything, though they do say that once a deal is reached they will say something. As far as we can tell, the pending Spyker deal is still a definite maybe. BAIC could not be reached to make a "no comment," and Saab's Eric Geer's stated, "We can't comment on anything about the sales process." Though our Saabs United source does provide us with a juicy tidbit, "[Geer's] wife is Saab's head legal counsel so he's like the canary in the coal mine. If he ever resigns suddenly..."

So there you have it - Saab's future is still totally up in the air. Though our source says that in addition to the 9-5 sedan, there's a 9-5 wagon (SportCombi) that's "pretty much ready to go" as well as the 9-4x which has, "been ready for about a year but Caddy had to get the SRX out first." Plus, a new 9-3 is being worked on. And one more thing - Saabs United is reporting that a Swedish group (not Renco) is also in talks with GM, in addition to the Spyker deal. We'll keep you posted.


Gallery: Frankfurt 2009: 2010 Saab 9-5


[Source: Automotive News - subs req. | Saabs United]

REPORT: Despite selling off old bits to BAIC, Saab brand still in search of buyer originally appeared on Autoblog on Mon, 14 Dec 2009 09:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>2010 Saab 9-32010 Saab 9-3x2010 Saab 9-52010Saab9-32010Saab9-3x2010Saab9-59-39-4x9-5BAICGeneral MotorsGeneralMotorsGMRencoSaabSaab 9-3Saab 9-4xSaab 9-5Saab 9-5 Wagonsaab saleSaab9-3Saab9-4xSaab9-5Saab9-5WagonSaabs UnitedSaabSaleSaabsUnitedSportcombiSpykerswedish automakerSwedishAutomakerMon, 14 Dec 2009 09:28:00 EST http://www.autoblog.com/feed/19276742/article-comments.xml http://www.autoblog.com/feed/2009/12/14/report-despite-selling-off-old-bits-to-baic-saab-brand-still-i/19276742/article-detail.xml 19276742 http://www.blogcdn.com/www.autoblog.com/media/2009/12/saab95_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2009/12/saab95.jpg <![CDATA[GM sees no buyers for Saab]]>http://www.autoblog.com/2009/01/09/gm-sees-no-buyers-for-saab/http://www.autoblog.com/2009/01/09/gm-sees-no-buyers-for-saab/http://www.autoblog.com/2009/01/09/gm-sees-no-buyers-for-saab/#commentsFiled under: ,

General Motors' precarious cash position and a dire automotive market means that some blood-letting will occur to some of GM's brands. The General has mentioned that Saab and HUMMER are up for strategic review, which Maximum Bob Lutz told Automotive News was "code for we realize they're not working and something needs to be done." Many are expecting GM to sell Saab, but unfortunately you need a seller and a buyer to strike an accord. And sources are telling AN that the General doesn't have the latter.

Tight credit markets could be part of the problem, and any would-be buyers that have ample cash on hand are likely to be hesitant to part with it. That's especially true when considering the fact that Saab's sales declined at nearly twice the US industry decline in 2008, with only 21,000 units sold. The Swedish government may make it a little easier to keep Saab after it offered up $3.1 billion in loans to aid its industry (including Volvo). GM likely needs as much short-term cash as possible right about now, but the fact remains that the Swedish brand hasn't brought much success in the past 20 years, and the near-term prospects don't look very good, either.

[Source: Automotive News - Sub. Req.]

GM sees no buyers for Saab originally appeared on Autoblog on Fri, 09 Jan 2009 16:03:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>9-39-49-5GMsaabsaab saleSaabSaleswedish automakerSwedishAutomakerFri, 09 Jan 2009 16:03:00 EST http://www.autoblog.com/feed/1423915/article-comments.xml http://www.autoblog.com/feed/2009/01/09/gm-sees-no-buyers-for-saab/1423915/article-detail.xml 1423915 http://www.blogcdn.com/www.autoblog.com/media/2009/01/saab-001-logo_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2009/01/saab-001-logo.jpg -1 2