Saab lives on!

I had previously posted that the Saab brand was being killed off by General Motors (GM). Thanks to passionate groups like “I Won’t Buy From GM” and Saab Fan Clubs all over the world, the right amount of pressure was put on GM to make a deal happen. So in came Spyker, the Dutch automotive company, to save the day. Autocar states that Spyker and GM have agreed to a “$400 million deal, subject to final detailed negotiations being completed in mid-February”. Once all the formalities are sorted, the newly formed company will carry the name Saab Spyker Automobiles.

[Source: Autocar]

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3 Comments on “Saab lives on!”

  1. 6are8 Says:

    For the sake of accuracy, and quoting/sourcing websiteS doesn’t necessarily ensure that the facts are always right, the “Purchase Price” of Saab is USD74 million only, to be paid in 2 installments, the first in the amount of USD50 million to be paid on Feb 15 and the balance of USD24 million to be paid on July 15 2010.
    The figures used by some sources have been mis-quoted and obviously taken out of context. The figure you have refferred to represents the funding required in the business plan in order to return Saab AB back to profitability and the amount is actually EUR400 million (not USD). There are other boring financial details, but I’ll leave it at that 🙂

    • el wehbi Says:

      Thanks for the additional details… I found this information when the news broke out so the deal was still under wraps somewhat. I quoted the source because I did not have access to any other information at the time. To me in the end, all I care about is Saab being saved. It’s a great brand and it would have been sad to have seen it axed.

      • 6are8 Says:

        🙂 Saab’s product portfolio will be renewed completely, beginning with the launch of the new 9-5 early this summer, the new 9-4X in early 2011 and the new ‘all Saab’ 9-3 in 2012.

        And they are also considering plans for a 9-1 to compete against the Audi A1 and BMW’s Mini, as they continue to re-position themselves against other brands in the C & B segments together with the Audi (A4/A6) and BMW (3/5 series) as a premium brand.

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