Zhejiang Youngman Lotus Automobile has been jettisoned from the dwindling pool of bidders for Saab after tendering an offer of $492 million for the whole kaboodle. Exact reasons weren't given for Youngman leaving the table, but according to a report in Autoweek.nl, "Chinese bureaucracy" was partially to blame and there apparently wasn't complete confidence in the Chinese company's finances.
Saab 9-5 News
One of the postscripts of the travails of Saab Cars North America (SCNA) is this, a couple hundred 9-3 and 9-5 sedans left to the unkindness of coastal winds at a New Jersey port facility. According to the poster at Found Our Own Road, there are 900 cars in this Asphodel Meadows awaiting the resolution of the company's fate.
We never heard about buyers of other ex-General Motors brands – Pontiac, Saturn and Hummer – taking to their keyboards to research new rides when the lowered boom crushed them all. Even though they would have been warrantied and supported by a still-living GM.
The future hopes of Saab seem to have been crushed under the weight of insolvency, and that's going to translate into reality as about 100 Saab cars lingering on the production lines are cubed up into scrap metal croutons. Unconfirmed rumors suggest that the vehicular carnage will ensue over the next 48 hours as the death rattle from Trollhättan gets ever louder.
As previously reported, Saab has announced that it is ceasing all warranty coverage on its vehicles in North America in the wake of its official bankruptcy in its home country of Sweden. That's bad news for anyone who's purchased a vehicle from Saab here in the States expecting to receive a few years of warranty coverage, but Saab Cars USA CEO Tim Colbeck is hoping to offer a solution. Speaking to The Detroit Bureau, he said:
It looks like Saab is planning a party for this year's Geneva Motor Show. The Scandinavian automaker has just rolled out its invitations to the shindig, and the cards feature a whopping total of four cars covered by sheets. According to the company, the public at large will get its first look an all-new concept car from the automaker, and judging by the inset image below, it looks like it could be a return-to-form hatchback that presages the next 9-3. In addition to the show car, there will like
Saab and Hirsch have made it official: The Swiss producer of go-fast parts will now offer a full line of upgrades for Saab vehicles in North America. Beginning in the spring of 2011, customers will be available to order Hirsch Performance products at select Saab dealers around the country.
Victor Muller, Saab Chairman and CEO of Spyker
Thinking of buying a 2011 Saab? If so, you'll soon have the ability to watch it come together before your eyes; Saab is installing cameras in its Trollhättan factory. Customers will receive text messages with photos of their cars as they reach certain points in the assembly line. Eventually, Saab plans to add a real-time video feed of the cars being built. This sounds way more interesting than most reality television shows.