Spyker, proud new owner of SAAB, is overwhelmed. Victor Muller is looking at what’s on his plate and is having an anxiety attack. “How will I ever get that done?” (And with what money?) Spyker needs serious help. (Read More…)

In recent years Sweden’s car makers have staked out an uneasy position above the mainstream brands but below the premium European marques. With profits elusive, both were recently sold by their American owners. And both are about to introduce new sedans that they badly need to sell well. How does the pricing of the new 2011 Volvo S60 and 2010 Saab 9-5 compare? Has either been priced aggressively to pump up sales?

(Read More…)

The PT Cruiser lit the world on fire … then it fizzled.  The new Beetle put a bug under many people’s bonnet – now it’s marked for extinction. That doesn’t deter Saab’s new owner Victor Muller of Spyker to think about a re-make of the legendary teardrop-shaped Saab 92 that was in production from 1949 to 1956. (Read More…)

US-market details about the long-awaited 2010 Saab 9-5 are starting to emerge, and they’re painting a bit of a frightening picture for the struggling entry-luxe brand. In order to capitalize on the desperation of Saab fans who nearly saw their beloved brand give up the ghost several times in the last year, Saab is releasing the 2010 9-5 in Aero spec only until the 2011 model year begins. Did we mention that, including destination charges, the 300 hp AWD flagship model will get you only ten bucks change for your $50k check?

(Read More…)

Having acquired Saab’s old 9-3 and 9-5 platforms, Beijing Auto is wasting little time in putting the old Swedish warhorses back into action. In fact, if you cover the digitally-altered front end of this C71 concept, you’ll notice that it’s barely been changed. And that’s not all: at least one of BAIC’s two new SUV models seem to take more than a little inspiration from Jeep’s Wrangler and Grand Cherokee. Rather than simply ripping off popular models as other Chinese automakers do, BAIC’s designers seem only to seek inspiration from their partner firms. The weird part: BAIC has signed a deal to sell new, “real” Saabs at its Chinese dealerships. The real deal and the cheap, outdated knockoff sold in the same dealership? Even by Chinese standards, that’s a bizarre strategy. [via ChinaCarTimes]

Where to start with Saab-Spyker CEO Victor Muller’s plans for world domination? Why not with the craziest part? Despite declining sales, the boutique supercar arm of Saab-Spyker claims to be developing a “Super Sport Utility Vehicle” in the mold of the D12 Peking-To-Paris showcar. Autoinformatief.com caused quite a stir when it revealed images of both a clay model and a test mule for this allegedly production-bound (yes, again) piece of madness. Moreover, news that Spyker won’t be invited to use Audi engines in forthcoming models caused at least one popular car blog to run the headline “Spyker’s New Ferrari-Powered SUV.” Because apparently Spyker can’t decide if it wants to use an AMG engine or a “supercharged Ferrari V8.” Does this give you a taste of just how goofy things have become ’round Saab-Spyker way? Well, it gets worse.

(Read More…)

Ah, the tangled web of automotive high finance. Victor Muller, CEO and largest shareholder of Dutch automaker Spyker Cars said “oops” (or Dutch words to that effect) and reduced his voting interest is Spyker from 34.3 percent to 26.8 percent.

Why? It just dawned on Muller (or his CPAs) that with more than 30 percent he would have had to make a buyout offer for the rest of the shares. After having gobbled up Saab through complex dealings involving Russian money of dubious provenance, being forced to buy out the whole company because of some silly law wasn’t a high priority for Muller.

Rules are rules, so what’s a newly minted tycoon to do? (Read More…)

Saab is in full re-start mode. A few days ago, we reported that Saab is re-starting incentives. Now, they are re-starting production. Germany’s Automobilwoche [sub] reports that “after a one and a half month pause, Saab is building cars again.” Now under the ownership of the Dutch boutique maker Spyker. They even hired a new sales chief,  Adrian Hallmark, formerly Executive Director Asia at Volkswagen AG and Executive Vice President at Volkswagen of America. According to Automobilwoche, Hallmark faces “a formidable task.” (Read More…)

In addition to lowering prices on 2010 models, Saab is introducing $4k-$8k incentives on 2009 models, according to bankrate.com. Will that be enough to make the company’s goal of 100k sales? With only 500 2009 models available in the US, and 2009 sales of 39k units globally last year, the answer is almost certainly a resounding “no.”

In their latest report, the Congressional Oversight Panel suggested that GM’s formerly captive finance arm GMAC shouldn’t have been split from the automaker it still supports. If this led you to believe that GM would take the troubled finance firm back under its corporate wing, you have another thought coming. The WSJ [sub] reports that

The idea appealed to GM, in part because auto maker would have more control over lending practices. GMAC’s move in 2008 to dramatically restrict leasing amid the U.S. financial crisis helped trigger the spiral that sent GM into bankruptcy the last year… But taking over GMAC would have many complications. GM sold a majority stake in GMAC in 2006 as a way to buck up the auto maker’s credit standing and its access to capital. As it turned out, GM still remains largely cut off from the markets.

(Read More…)

With Russian financiers offering up to $100m to back the new Saab-Spyker project, it’s not surprising that the internet is awash with glad tidings of new cars from the new Dutch-Swedish venture. On the Saab side, CEO Victor Muller and company are teasing analysts with news that Saab is “already working on plans” for a new compact car, tentatively named 9-1. Having quoted Muller as saying the 9-1 had a “better than average chance”of being built (whatever that means), Automotive News Europe [sub] filled in the blanks:

[The 9-1] would be needed to help achieve Saab’s stated goal of closing the gap with BMW and Audi. Saab debuted a concept for an entry-premium car at the 2008 Geneva auto show. ANE sister publication AutoWeek named the 9-X BioHybrid the best concept at that year’s event.

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.

In the confusion of the recent Saab-Spyker deal, an interesting tidbit has flown beneath the radar until recently. Most industry news outlets [ourselves included] had reported that Spyker’s backing from Russia’s Conversbank had given GM intellectual property nightmares, and that the deal had gone through with backing from other corners. Not so, it turns out. Bloomberg [via BusinessWeek] reports that Alexander Antonov confirms his bank supplied the first $25m in payments to GM. A strange turn of events, considering Russian backing for Magna’s failed Opel bid (and GM’s attendant IP paranoia) was said to have scuttled the deal (and that didn’t even have Convers’s bizarre Chechen blood feud connection).

(Read More…)

One more obstacle to the Spyker-Saab deal has been eliminated, as BusinessWeek reports that the EU has approved the Swedish government’s guarantee of a €400m ($547m) loan to the company from the European Investment Bank. EU competition commissioner Neelie Kroes approved the loan today, saying it would not cause “any undue distortions of competition,” and that Saab had offered “adequate remuneration” and collateral. The EIB still has to give the loan final approval, a prospect that Swedish government officials say is likely, despite the fact that €320m of the package was originally intended as an environmentally-friendly car development fund. As Bertel Schmitt put it, “keeping the lights on in Trollhättan while GM delivers parts doesn’t quite fit the purpose.” Unless of course you’re willing to justify anything to get your hands on the  new 2010 9-3X “Cross-Combi,” which SaabHistory claims can now be pre-ordered from the remaining US Saab dealers. And if the sedated Swedes in this video are anything to go on, the 9-3X is sure to be, well, a Saab.

HUMMER is the big loser of GM’s dead brand version of “The Biggest Loser,” with an epic 2,493 vehicles left on lots after 9 months of “winding down” (not to mention the two plus years with a “for sale” sign stuck on the brand). As this table from GM’s January sales release shows, even Saab has trimmed more inventory since GM announced the cut to four brands last May. HUMMER did beat the Swedes in sales last year, barely, clocking 9,046 units to Saab’s 8,680. But Saab also sold more 9-7x Trollblazers (2,218) than HUMMER sold H2s (1,513). Figure that out. And people wonder why the Chinese government doesn’t want Sichuan Tengzhong to buy this hummer of a brand. [UPDATE: HUMMER’s Communication Director responds after the jump]

(Read More…)