Saab dead - Long Live Saab!

[Emher]

Well it's pretty much official that Saab is going down. The Swedish goverment (henceforth refered to as ******* ********* who don't know what the *** the are doing!!!!!!) has once again said no to ANY kind of relief for the company. This saddens and angers me in the deepest and I hope that some kinda car company will ofer to buy Saab from GM. Which is unlikely.


Saab is dead. Long live Saab! :(

[Design1stCode2nd]

Ummm good riddance?

[Dan]

Originally Posted by Design1stCode2nd

Ummm good riddance?

[OUR72GTO]

SAAB DEAD! so sad

[Emher]

Let me put this is in more clear terms to you then: this is the last reliable and afordable domestic Swedish brand. After Saab is gone we have Volvo and Koenigsegg. The latter is not affordable and the former, uh, I hate!

This is for us like it would be for you if Chevy died..

[Legend]

Originally Posted by Adam

No it wouldn't because american muscle cars are cool, some luxury cars have style, and some high performance cars made by other companies are sexy. Saab falls into none of those categories.

I disagree...I currently own a Saab 93 Aero and it is the best car I have ever owned! Hands down a very nice luxury sedan with plenty of go! Great styling and handling as well.

While I don't expect everyone to agree with that statement...I'm almost certian there are many, many in the European market as well as here in the US that would!

[Emher]

Originally Posted by Adam

No it wouldn't because american muscle cars are cool, some luxury cars have style, and some high performance cars made by other companies are sexy. Saab falls into none of those categories.

My 9-5 is a freaking jet fighter on wheels! It's upped 4-cylinder engine outperformed several V6s from Saab for YEARS. Not only does the 9-5 have style, it's a killer, a sleeper AND it's comfortable, reliable and gets great mileage.

Frankly I think no one who hasn't owned a Saab should dare to try and comment on wether or not they are cool or have style! These are great cars.




Also what the hell is up with the hate here? I thought this was a car lovers forum, but so far this thread has mostly consisted of people making it sound like this was Toyota going under.

If that is what the bonds of friendship are between car fans then that make me sad.

[DGthe3]

Saab might not mean anything to us, but it does to the Swedes. How would you folks feel if you had only 1 domestic choice for an automaker?

[Supermans]

What a Saab song

[Shadow-phoenix]

that's too bad, saab's are sweet little cars. I've never driven one, but I've seen them around, and I think they are decent...

[Conflict]

O NO, a terrible car company is disappearing...

[comiskeybum]

I think i have honestly seen about 3 Saab's on the road in my entire life. 99% of people out there couldnt even tell you one model that Saab makes.

I say who cares and let it go. Same with Saturn.......bye bye. Mercury is gone is 2013 most likely.

[Andro]

Bye! Bye! Saab

[DGthe3]

saab-files-for-bankruptcy-in-swedish-courts

Originally Posted by Autoblog

General Motors confirmed this morning that Saab's days as a part of the Detroit-based company are numbered. The Swedish brand has filed paperwork with courts in its home country for reorganization that would lead to its independence. This self-managed reorganization is analogous to the U.S. Chapter 11 bankruptcy process, and would lead to the establishment of an independent entity based in Sweden. In order for that to happen, however, GM needs to line up financing for the new company, which may be problematic. Automotive News reports that as much as $1 billion may be needed to make Saab sustainable on its own.

GM plans to concentrate Saab's engineering, design and manufacturing operations back in Sweden. The brand plans to launch three new products between now and mid 2010: the new 9-3X, 9-5 and 9-4X. The first two are already set to be produced in Sweden, but the new 9-4X crossover was scheduled to be built in Mexico alongside the Cadillac SRX. The Swedish government has already rejected a GM request for funds, so the money will have to come from somewhere else. The official press release from GM can be read after the jump.

[Source: General Motors]

PRESS RELEASE SAAB ON THE ROAD TO INDEPENDENCE

• Swedish court process to reorganise Saab into a fully independent business
• Three new models ready to be launched over the next year and a half
• Saab aims to bring resources back to Sweden
• Funding sought for 'new independent Saab'

Trollhättan. As a result of GM's strategic review of the global Saab business the Saab Board announced today that it will file for reorganisation under a self-managed Swedish court process to create a fully independent business entity that would be sustainable and suitable for investment.
The reorganisation is a self-managed, Swedish legal process headed by an independent administrator appointed by the court who will work closely with the Saab management team. As part of the process, Saab will formulate its proposal for reorganisation, which will include the concentration of design, engineering and manufacturing in Sweden. This proposal will be presented to creditors within three weeks of the filing. Pending court approval, the reorganisation will be executed over a three-month period and will require independent funding to succeed.
"We explored and will continue to explore all available options for funding and/or selling Saab and it was determined a formal reorganisation would be the best way to create a truly independent entity that is ready for investment," said Jan Ake Jonsson, Managing Director for Saab Automobile. "With an all new 9-5, 9-3X and 9-4X all ready for launch over the next year and a half, Saab has an excellent foundation for strong growth, assuming we can get the funding to complete engineering, tooling and manage launch costs. Reorganisation will give us the time and means that help get these products to market while minimising the liquidity impact of Saab on GM."
Funding for the restructured company will need to be secured during the reorganisation process and will be sought from both public and private sources.
Saab will continue to operate as usual and in accordance with the formal reorganisation process, with the Government providing some support during this period. The reorganisation should have no impact on other GM operations. Details of the progress will be provided as milestones are achieved.