We are delighted – Saab’s future is now secure. From today we will be concentrating all of our efforts into reviving Saab and transforming it into a sustainable and profitable company with the confidence to be bold. We will reinforce the emotional experience between Saab drivers and their cars and we will focus on Saab’s historical strengths in the fields of independent thinking, aircraft heritage, ecological performance and motorsport.
Through this acquisition we add approximately 15 euros per share in equity and 60 euros of assets. With a well funded business plan in place we are looking forward to working with Saab’s management on the realization of that plan and bringing exciting new products to our customers. Real Saabs, Saab Saabs.
Spyker CEO Victor Muller celebrates the official transfer of ownership of Saab [full release in PDF format here]. GM’s release can be found here.
I still don’t belive in this. The deal is done when the money is on GMs account. Preferably ALL the money.
I struggle to see how this arrangement will work, given the staggering costs involved in developing and marketing automobiles, not to mention the aversion of too many consumers to anything “different”. But I wish them well…my own recipe would be to combine traditional Saab design cues (the new 9-5 being a great start) with seriously huffing turbo engines and AWD drivetrains.
While I agree that the 9-5 has it’s good elements, a Saab absolutely has no business of being a sedan. The first thing they need to do is giving it a proper hatch.
And no more V6 engines.
Good luck with that Victor.
Why so negative?
In your other reply you ask “what has changed?”.
Well, the old 9-5 was more than 12 years old. GM cancelled a new 9-5 at least once (I’m thinking of the model co-developed with Subaru).
This year Saab have the following new models: 9-3X (introduced last fall), 9-5 (production starts within a month or two) and the 9-4X (within the end of the year?). The NG 9-3 is said to be ready for testing soon (MY2012?).
For the first time in a very long time, Saab has a modern and fresh lineup.
May I also point out that the old generation 9-5 ranked at the very top of folksam.se’s overview of safe cars all through the previous decade. Only last year was it joined by some other cars. The NG 9-5 is even safer. (http://www.folksam.se/dpublic/a0346.nsf/vLookUpFiles/R6546.pdf/$FILE/R6546.pdf) The 9-3 had a similar
Even though my old 9000 CS 2.3T is at least 20% safer than the average car (not bad for a 25 year old design… It rates as good as newer German cars), I only bought it while awaiting the new 9-5.
Safety combined with good driver’s comfort and _good_ acceleration between 80-120 kph plus ridculously good winter capabilities, make Saabs an interesting and good choice.
I appreciate your appreciation of great SAABs like the 9000. They were living proof that a fast car can be a safe car, and a roomy car, and a versatile car. They weren’t perfect, as evidenced by the large number of SAAB-only repair shops they supported, but they were something special.. more special than the ones that followed, I think. It’s a slightly better world when SAAB is still making cars.
So, GM is getting $74M in cash plus $326M in (soon to be worthless) shares of the new Saab-Spyker company? Obviously, GM has not washed its hands of Saab. It will produce the 9-4 for Saab, and the 9-5 is full of GM’s latest technology. Still, the new cars will prove sales-proof. After this little venture fails (perhaps taking Spyker down too) GM will be left holding the bag and responsibility for further liabilities. It’ll be like Delphi and Visteon all over. A death of a thousand cuts. GM should have bitten the bullet and closed Saab down even if it cost more near-term.
Agreed. There’s nothing about Saab now that was different from before that will have anyone clamoring into their showrooms. It’s a vegetable that hasn’t had the plug pulled quite yet.
So is now a good time or a bad time to mosey down to the local SAAB dealer looking for a bargain?
Hi cojones are as big as that A-pillar.
I love to read all these “I don’t believe this!”-statements.
You sure didn’t!
Now it has happened!
But there will always be some people to go on with the sermon: SAAB should be killed! Pull the plug!
I hope that they don’t get tired of it in the long run.
Congrats to Saab for surviving. I, for one, am glad it worked out.
I for one would rather have Saturn or Pontiac back.
Really?! Out of curiosity why?
We will reinforce the emotional experience between Saab drivers and their cars…
Does this mean even more torque steer?
Sorry to break the news to you, but Saab torque steer jokes are so 2007. :)
Damn, and I thought I was on a roll! Does that mean they fixed the problem in ’08?
They introduced XWD for MY08.
I’ve never seen a purple SAAB and I hope I never see one,
But let me tell you anyhow, I’d rather see than build one.