GM "sells" Saab to spyker

Shift518 Automotive
1

I don’t know why but I feel like every “sale” has fell through so far. We’ll have to keep an eye on this one and see if it works out.

Sweden’s Saab is being sold to Dutch luxury carmaker Spyker, General Motors (GM) has confirmed.

GM has been trying to sell Saab since January 2009. Earlier this month, it said it would start to shut down the firm while still looking for a buyer.

But GM said wind-down activities would be immediately suspended, “pending the close of the transaction”.

Spyker sold 43 cars in 2008, when it posted a loss of $35m (£21m). Terms of the deal were not specified.

ANALYSIS
Jorn Madslien
Jorn Madslien, Business reporter, BBC News

Saab, the car that emerged from a company making fighter jets, is set for a new existence as a subsidiary of Spyker, a small, loss-making Dutch sports car maker.

Spyker chief Victor Muller says he wants to create more jobs, rather than reduce the Saab workforce, as he is keen to prevent the number of cars produced from falling further.

But others have tried and failed to make Saab into a volume carmaker.

For the 3,400 workers at Saab’s factory in Trollhaettan, the deal offers a glimmer of hope for the future, though it is too early to suggest their jobs are safe.

However, reports suggest that Spyker paid $74m for Saab.

‘Great news’

Saab lost 3bn kronor (£255m; $412m) in 2008, and has not made a profit since 2001.

US group GM rejected an earlier offer from Spyker for Saab in December.

Shares in Spyker were earlier suspended on the Amsterdam stock exchange, with the Dutch financial market regulator saying the move was “pending [a] press release” from the company.

Its shares were 2.8% higher before the suspension, after having risen more than 60% on Monday.

“Today’s announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM,” said John Smith, GM vice-president for corporate planning and alliances.

“General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we’re all happy for the positive outcome,” he said.

http://news.bbc.co.uk/2/hi/business/8481621.stm

2

the sale did go through and Spyker will leave saab to the design of their cars and one of the idea’s SAAB has is to bring back the Hatchback!!! :slight_smile:

3

theres a good load off of gm ,sabbs are pieces of shit always have been

4

I never understood why GM bought Saab in the first place. They never mixed and matched parts with Saabs except for a rebadged Trailblazer.

5

nono they did ,the ecotech was a mix of slaab and gm susp is almost identical and so on

6

and GM used the reverse lock manual shifter from saab into the Chevy Colbolts after 2008 i think
thank god they are out of GM’s hands now and the 9-4x(SRX) is the last GM platform vehicle in SAAB’s lineup and what a beaut the 9-5 is!!!

7

gm made them sellable again ,before that saab was ugly unreliable junk ,they didnt get much better but they look a lot better

8

well GM IMHO didnt really do any good for SAAB except for to keep them alive and left their Safety record alone and didnt make them less reliable or less safe!!!
they are very reliable vehicles more reliable then the American crap that Government Motors is still making and producing!!!
but thats my opinion and im entitled to that

9

i wouldnt expect better out of you ,esp seein as ya dont see the dumb shit that still breaks on them and will continue to do so .they have one of the worst elec systems and craftmanship is horrible .not that domestics are any better but still

10

well ive had my 9-3 Viggen (1 in 600) for about 5 years and the only major issue ive had with it is the motor spinning a bearing but the modified B235 motor they put in the viggen is a ticking time bomb since they use weaker pistons and shit
but i love my car, and im glad that if i hit something very sturdy at a high rate of speed that i can walk away with only scraps and bruises!!!

11

ill give em that they are safe ,but what does safety matter when thay have a whole slew of other problems .my mother didnt listen to me with her 08 vector she had it 6 mos it needed .motor ,all 4 struts ,4 computers , a new heated seat ,ans so on .and no im not usin one example of them bein shit to base my thinkin off of .when ya work on them ya see what garbage is really out there

12

Id rather hit something with my truck than your Saab.

13

why ya in his saab pjb?:gay

14

well drew the 03-present 9-3’s arent that good ill give u that they have GM written all over those 9-3’s and the Vector was only a trim for 1-2 years when another car manufacture used that trim name before so they went with Aero like the 9-5’s have!!!

and i will def take u for a ride in the viggen if u want bud

15

wtf? I mean I feel my truck is safer than a smaller car, thats all. No =====D~ (( stuff here.

16

well lets see what would happen to your truck if a moose hit it or u hit a moose and see how well ur FORD holds up :stuck_out_tongue: