Saab has filed for bankruptcy.

[Volvo2002]

http://www.autocar.co.uk/forums/t/21331.aspx

Very sad day

[RUTV70]

Inevitable I guess...but as an ex-Saabster I find it very sad indeed.

Neil

[Volvo2002]

To TTELA Victor gives the following interview:

When was the decision taken?
- Early this morning, when GM replied to my e-mail about our suggested solution.

How do you feel about GM right now?
- How would you feel?

How did Youngman motivate that they would not invest the money promised?
- GM said that they would not support any investment from Youngman regardless if it was considered a loan or capital. Youngman could not disregard that threat.

How will this affect you personally?
- I am despaired and furious – at the same time

__________________________________________________ __

Second article, bullet points from Victors speech:

blackest day in Saabs History
No way to work with GM
Even though GM would not be part of Saab Automobile, all new products developed by Phoenix, GM still not interested…
Only 200 million needed to get back on track, is because bulk of the investment would be done in future models.
400 million Euro in the 50/50 joint venture, 200 million euro into Saab Automobile
Around 5 AM, statement from GM, no mater how the deal was done, GM would not agree
Youngman thought it was too risky to invest in Saab since GM would terminate the license of 9-3, 9-5 and 9-4x…
Youngman would have “bought” an empty factory for at least two years…
Having no funding in place, only way out is to file for bankruptcy
Sweden has very good rules, much better than chapter 11… A company in sweden in bankruptcy, can actually go out of bankruptcy, if a party comes and invests money into the company
Parties have showed interests, license agreements with GM must be re-negociated.
New name agreement needed to be negotiated with SAAB AB, but if its a strong argument, this might work as well
This is not necessarily the end…
Could be a new beginning, where Saab could rise again, like a phoenix out of the ashes
SWAN’s involvement is over though
VM will help the administrators
VM’s objective was to create beautiful cars and employ 3500 happy people in Trollhättan, this has now failed… makes him very sad

[volvorocks]

Saab in a way is similar to Volvo. What would have happened to Volvo if China had not bought it?

Saab was simply slipping behind the times with an old limited model line up that did not appeal to todays modern buyer. It was neither premium nor mass market,instead somewhere inbetween.

Its a shame, but business is businesess and firms have to make a profit I suppose.

[Rowton]

Very sad news.

This is just my opinion but I wonder if Saab was not allowed the freedom to stray too far from GM, which in turn drove buyers away?

I’ve always traditionally seen Saab in a similar vein to Volvo, solid European car which appealed to people who wanted a good, prestigious car but found the German brands a little too showy. Certainly up to the millennium Saab were very nice motors.

Just to me it seems the line-up over the past two years feel too much like re-badged posh Vauxhalls (why I didn’t go for a 93). At least with Volvo during the Ford ownership, the company was allowed to create its own brand identity and design.

[emmdee]

American car manufacturers are terrible. Ford made an ass of Volvo, and it looks as though GM has done the same for Saab. Well built cars aren't part of the modern corporate philosophy. Garbage made from compressed tin foil with as much plastic trim as you'd like, electrics from Maplin, and everything in the engine managed by poorly made computer chips so that the owners can't effect repairs themselves - that's modern motors for you. My kingdom for a Swedish-built pre-Ford 940!

m.d. (not so proud owner of a disappointing VW)

[Volvo2002]

Originally Posted by Rowton

Very sad news.

This is just my opinion but I wonder if Saab was not allowed the freedom to stray too far from GM, which in turn drove buyers away?

I’ve always traditionally seen Saab in a similar vein to Volvo, solid European car which appealed to people who wanted a good, prestigious car but found the German brands a little too showy. Certainly up to the millennium Saab were very nice motors.

Just to me it seems the line-up over the past two years feel too much like re-badged posh Vauxhalls (why I didn’t go for a 93). At least with Volvo during the Ford ownership, the company was allowed to create its own brand identity and design.

My mother owns a 9-5 aero 250hp 55 lovely to drive and built like a tank. Such a shame to hear this news.

[Moosejaw]

A shame. There are parallels to be drawn with the final days of MG/Rover I fear. Someone has done very well out of this great company's demise.....

[grin factor]

Originally Posted by Moosejaw

A shame. There are parallels to be drawn with the final days of MG/Rover I fear. Someone has done very well out of this great company's demise.....

As always. I bought a Rover 75 1.8T conny months before they went tits up, lost a bundle, but the car was a beauty and I had 7 yrs with it without any problems

[volvorocks]

Originally Posted by Volvo2002

My mother owns a 9-5 aero 250hp 55

Is that the 50mph to 70mph in 1 second model as per Top Gear!!!