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The Future of Saab?

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  • nippononlynippononly SF Bay AreaPosts: 12,726
    is just getting SO ugly now. Today's Saab news is that they have sold a bunch of proprietary information and tooling to the Chinese, in the hopes that this will somehow make the balance sheet look a little better, and maybe attract another prospective buyer or two. Never mind that the 9-5's platform is ages old, never mind that GM has said it will liquidate if there is no firm buyer by 12/31, never mind.....

    Saab says asset sale to BAIC gives it cash for a fresh start

    Saab believes that a deal to sell some key assets to Beijing Automotive Industry Holdings Co. will help secure the money-losing automaker's future.

    "The money will finance the new Saab and contribute to a good start under new ownership," Saab spokeswoman Gunilla Gustavs said without revealing financial details of the deal.

    .....The deal that Saab and BAIC announced Monday gives the Chinese automaker all rights to the current 9-5 as well as some technologies from the 9-3. The future 9-5, which will share its platform with the Opel/Vauxhall Insignia, the 2009 European Car of the Year, is not part of the deal.

    BAIC, China's fifth-largest automaker, also gets the 9-5's tooling, which will be moved from Saab's plant in Trollhatten, Sweden, to China where Saab engineers will help BAIC integrate the technology into its future vehicles. BAIC does not currently produce cars under its own brand.

    "This arrangement is excellent for both parties, now and for the future. We have developed a good relationship with BAIC and look forward to working with them to integrate this Saab technology into their future vehicles," Saab Managing Director Jan Ake Jonsson said in a statement.


    http://www.autoweek.com/article/20091214/CARNEWS/912149997

    Which future was that, exactly??!!

    2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)

  • fintailfintail Posts: 46,959
    A Chinese Saab-based copycar might be interesting-looking :sick:
  • nippononlynippononly SF Bay AreaPosts: 12,726
    Well, it would be an exact copy. BAIC now has the rights AND the dies to build exactly the same 9-5 that is for sale today in showrooms....subject to Chinese manufacturing standards, of course.

    2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)

  • fintailfintail Posts: 46,959
    Geez, a 10+ year old Swedish design that attracts dozens of buyers, but now made in China? I can't see any reason why the market wouldn't embrace that! :shades:
  • Supposedly the old 9-5 and pre 2006 9-3 chassis are for Chinese domestic use only. They won't export them to the US at least. Not sure about europe.
  • fintailfintail Posts: 46,959
    I can't see Europeans wanting them any more than Americans. Germany already gets the Brilliance...but nobody buys them.
  • dtownfbdtownfb Posts: 2,918
    Sad to see them go but ever since GM took them over they've lost their identity. That Saab "quirkiness" had a strong and loyal following now it's just another brand under GM.
  • fintailfintail Posts: 46,959
    I want to point and snicker about GM ruining yet another car...but at the same tiem, I doubt Saab would be any better off without them, in this market. It's just a shame they get to go down as a fleet of reskinned Opels with a rebadged Subaru and GM SUV in recent memory.
  • hpmctorquehpmctorque Posts: 4,600
    The future of Saab will now be in classic car shows and museums. I can just picture a parent-child dialogue: "Hey, your Uncle Bob once owned a Saab, just like that one." "Just like that one?" "Well, almost, but Bob's was black and turbocharged?" "Oh, yeah, what's so special about that?"

    I can't imagine that Saab would have survived on its own. GM delayed the inevitable, and squandered a lot of time and resources in its misguided attempt to reinvent a teetering niche brand.
  • nippononlynippononly SF Bay AreaPosts: 12,726
    Might have been nice to see the Swedish government take it over and run it for a while. Seems like they wanted to take a strong hand, but lacked the funding to do so. It would be a shame to see Sweden fall off the automaking map - I am rooting for Volvo!

    2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)

  • hpmctorquehpmctorque Posts: 4,600
    "I am rooting for Volvo!"

    Yeah, but would you buy one?
  • hpmctorquehpmctorque Posts: 4,600
    "...in a Sunday statement, Spyker /quotes/comstock/24s!e:spykr (NL:SPYKR 1.71, -0.48, -21.92%) Chief Executive Victor R. Muller said that the company had submitted an 11-point proposal to GM, 'addressing each of the issues that arose during the due-diligence process.'

    The executive said that "the renewed offer would remove each of the obstacles that were standing in the way of a swift transaction." He said the proposed deal would enable Spyker, Zeewolde, Netherlands, to close the purchase of Saab by GM's original deadline of Dec. 31.

    Spyker's statement said buying Saab would give it 'a strong global distribution network consisting of no less than 1,100 dealers,' as well as an up-to-date production operation, dedicated workforce and strong engineering and research and development.

    Spyker said its offer is valid until 5 p.m. U.S. Eastern Time on Monday."
  • nippononlynippononly SF Bay AreaPosts: 12,726
    This soap opera is going another round??!!

    2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)

  • dtownfbdtownfb Posts: 2,918
    Not knowing much about the financial situation of Saab as it relates to GM, but wouldn't it make more sense financially for GM to make this deal work even at a loss than shut down Saab and have to deal with the dealerships?
  • nippononlynippononly SF Bay AreaPosts: 12,726
    It wouldn't be advantageous to make it work at a loss, because the dealer agreement with Saab dealers is different, and won't be difficult or costly for GM to eliminate from what I understand.

    Just think of the big costs for GM in the years ahead: free maintenance programs, warranty repairs, and parts support. Considering the trickle of cars Saab has sold in the last ten years, it will be a lot of overhead for GM with nothing to hope for in terms of repeat business from the Saab owners.

    The incentive for making a deal work is the hope that the new company will eventually PAY GM to provide those services.

    2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)

  • hpmctorquehpmctorque Posts: 4,600
    ...has been extended indefinitely, as GM and Spyker continue working on a deal.
  • dtownfbdtownfb Posts: 2,918
    I understand now.
  • GM already terminated their franchise agreements with Saab dealers over the summer. We have been operating on a sort of month to month basis since then. That is why Koignessegg was able to hire or fire Saab dealers at will during their negotiations.
  • nippononlynippononly SF Bay AreaPosts: 12,726
    It's a little odd that even as I read this, there is an ad just to the right advertising Saabs with 0% for 72 month financing. :-P

    Saabs are kind of cool, but between the winding down and the slippery financial footing GM is on right now, it seems like a lot of the stuff like free maintenance and warranty support may well not be there within three years. Making Saab a risky buy what with all the other great brands out there, even given 6 year free financing....

    2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)

  • I have had people come in because of the 0% but haven't been able to close anyone on it yet. Its hard when you only have four cars, with two being gray and two being red left not a lot of choices for someone.

    SAAB just bumped their dealer cash up to 9,000 dollars from 5,000 dollars the other day. I would take the 9,000 over the 0% even for 72 months. Better to get all your discount/incentives up front.
  • nippononlynippononly SF Bay AreaPosts: 12,726
    $9000?? Heck, maybe now is a good time for me to buy my first Saab ever! :-P

    2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)

  • Just sold one of them this morning, the last AWD 9-3 that was also a six speed manual, so down to three. I have one deal very close on a gray six speed manual 9-3 2.0T model and another deal close for the last automatic 2.0T 9-3.

    Then there is one more six sped manual FWD model left.
  • hpmctorquehpmctorque Posts: 4,600
    How much are you discounting them?
  • Steven Wade, who runs the saabsunited.com website, has put together an online petition for people to sign saying that if GM shuts down Saab, they'll never buy from GM again. It has over 2500 signatures after a few days, but a lot more would help get the message through to GM. GM could announce a decision at the end of the week (a lot of people think GM never really wanted Saab to survive). Here's the link:

    http://iwontbuyfromgm.wordpress.com/

    Paul
  • kyfdxkyfdx Posts: 111,180
    I would think that most die-hard Saab owners, wouldn't own a GM, anyway.. GM buying Saab was the only way that it accidently happened in the first place.. :surprise:

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • About 11,000 to 12,000 depending on if the customer has GM loyalty or not.
  • hpmctorquehpmctorque Posts: 4,600
    That's quite a discount! Of course, it is for an '09 model of a discontinued brand. Still, a new '09 9-3 for ~$18,000 seems like a good buy.
  • We didn't have any cars that cheap anymore though. I think the cheapest 9-3 we had went for 23,900.
  • kyfdxkyfdx Posts: 111,180
    Stopped by my nearest Saab dealer, today... (not open)..

    Only two new 9-3s on the lot.. A sport sedan, with premium package, auto, sunroof, etc... Stickered for just over $40k.. And, an Aero, auto, XWD and metallic paint... just under $45K...

    Now, if you could get $15K off of that XWD Aero, that would be a heck of a car for $30K... assuming you planned on driving it for 8 years, or so..

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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