MotorCrave.com » Saab

Spyker Will Use Saab Dealers to Sell Its Sports Cars

Chris Weiss — Fri, 04 Jun 2010 14:30:03 +0000

I was pretty ambivalent when Spyker bought Saab. I was glad to see the brand and jobs therein retained, but I can’t say I have much of an intention to purchase a Saab. Today, I’m officially celebrating the deal. My change in attitude stems from Spyker’s plans to offer its distinctive supercars at Saab dealers. This will effectively multiply the number of places that are selling cars like the C8 Aileron. According to the company, dealerships will jump from 35 to 60 this year and on up to 90 in 2011. So if you’re lucky, there’ll be a Saab/Spyker dealer in your neighborhood offering the opportunity to gawk at some Spykers.

Spyker CEO Victor Muller said: “Spyker will be profitable in its own right, very much helped by its sister Saab. It’s wonderful that the company that saved Saab is also benefiting from having done that in its own business.” [via egmCarTech]

Saab Launches Ad for 9-5 Sedan

Chris Weiss — Thu, 03 Jun 2010 19:38:27 +0000

Saab is officially back from the dead. It’s been back for a while, but now we have video proof. The Spyker-owned Swedish automaker has launched an ad for its upcoming 2011 9-5 sedan, which will hit the U.S. market in the summer.

It’s just a typical car commercial with pleasant music and dim lighting, but it’s a big deal for Saab, which was nearly terminated before Spyker finally put together a deal with GM. [via Carscoop]

Saab Production Gets Underway, 9-5 SportCombi Wagon Coming Next Year

Chris Weiss — Tue, 23 Mar 2010 18:42:13 +0000

For Saab and those that love the brand, news of production is good news. Spyker has gotten the assembly lines running again in Trollhattan, Sweden. An official ceremony was held yesterday.

The company also announced plans to begin producing a 9-5 SportCombi wagon next year, which will join the 9-5 sedan in the new Saab’s lineup.

The Trollhattan factory will produce four different Saab models, including the SportCombi, 9-5 sedan and 9-3 convertible. [via Inside Line]

Spyker Gains Approval for Saab Deal

Chris Weiss — Fri, 12 Feb 2010 19:46:46 +0000

The headlines were made, but Spyker still has some work to do before closing the Saab deal with GM. Today, the Dutch company made some major progress when its shareholders voted to approve the deal and the European Investment Bank approved a 400-million-euro loan that is integral in the deal with GM–a pretty big day all around.

Shareholders plan to list the new company’s stock in London and Stockholm. Spyker’s deal with GM will total $400 million–$74 million cash and $326 million in preferred shares. [via Reuters]

Spyker Says Saab’s Future Holds Three to Four Models

Chris Weiss — Tue, 02 Feb 2010 15:00:00 +0000

It was one of the auto world epics of 2009 (and early 2010), but Saab has finally found a home with Dutch automaker Spyker, and the latter has started talking about what the future holds for the formerly embattled Swedish car company. Spyker intends to position the company as a niche performance car manufacturer with an environmental twist.

Saab’s future will reportedly include three or four model lines: the 9-3, 9-4X and the 9-5. The 9-3 and 9-5 will include a variety of models including sedan, X and sports estate varieties. An entry level Saab 9-1 hatch is also being considered.

The new Saabs will officially hit the scene this summer when the 2010 9-5 rolls out. The 9-4X will follow in 2011 and the 9-3 will come in 2012. [via MotorAuthority]

Saab Sold to Spyker

Chris Weiss — Tue, 26 Jan 2010 20:13:31 +0000

It looks like Saab was finally rescued from the scrap heap. After all the 13th hour negotiations as GM was already winding the company down, a deal with Spyker was finally made.

The Wall Street Journal is reporting that Spyker will pay GM $74 million in cash while a loan from European Investment Bank will provide $566 million. GM will maintain $326 million in shares.

Spyker Chief Victor Muller has vowed to bring back the “Saabish” qualities that inspired brand loyalty across the world. However, it’s not known how capable a tiny supercar manufacturer that has never had a profit is of leading the ailing brand. Saab may not be much better off than it was last week.

Spyker will change its name to Saab Spyker Automobiles. [WSJ via Jalopnik]

Saab Sale May Come This Week (Finally)

Chris Weiss — Mon, 25 Jan 2010 17:44:05 +0000

The last we heard of Saab it was in the process of being whittled down to non-existence, but new reports indicate that there’s hope yet for the Swedish automaker. According to the news, Spyker is still in negotiations with GM, and a sale announcement may come sometime this week–possibly even today. Spyker is reportedly offering a mix of cash and preferred shares worth $500 million.

Hindering Spyker from the purchase is the fact that it has never turned a profit and must rely on financing. If the Spyker/GM deal falls through, Genii Capital is reportedly still in the hunt for Saab as well.

All you Saab fans out there–cross your fingers and stay tuned. [via MotorAuthority]

AlixPartners Appointed to Begin Saab Wind Down

Chris Weiss — Fri, 08 Jan 2010 20:29:30 +0000

It looks like none of yesterday’s last-hour bidders made a successful play for Saab. Yet. GM has appointed restructuring firm AlixPartners to lead the liquidation of Saab. GM has also sought approval of the appointment from the appropriate Swedish regulatory authority.

GM still plans on reviewing bids that it receives, but the forward march of the wind down can’t be a good sign of a deal to come.

The Saab wind down will take several months. Current Saab owners’ warranties will still be honored and Saab parts will continue to be stocked, according to GM.

GM had imposed a deadline of 5 p.m. EST yesterday for bids, and a number of companies including Spyker, were busy getting bids together at the last minute. [via Carscoop]

11th Hour Bids for Saab as Deadline Bears Down

Chris Weiss — Thu, 07 Jan 2010 19:50:04 +0000

If they don’t get it done now, it may never happen. Various bidders in Sweden, Luxembourg and the Netherlands have been busy making last-ditch Saab bids with the GM-imposed deadline bearing down. The deadline is set for 5 p.m. EST today, at which point GM will officially commit to winding down the brand, a process it’s already begun given the lack of adequate bids.

According to Reuters, GM has cited bidders’ lack of proper financing as a reason that no bid has yet been accepted.

Among the last-minute bidders reported are several Swedish groups, an investment firm from Luxembourg and Spyker, the Dutch luxury automaker which has long been one of the more serious suitors in the Saab hunt.

We’ll see what fate has in store for Saab after the dust clears later this afternoon. [via Reuters]

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