General Motors Holding Saab 9-5 & 9-4x Hostage Until Financing Comes From Swedish Government

Posted on 19. Feb, 2009 by in 2000-2009, 9-4x, 9-5 NG

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Photo Credits: Auto Bild

An internal satellite (IDL) video conference took place yesterday at Saab dealerships. In the video conference it was confirmed that the next generation Saab 9-5 and 9-4x vehicles that are 90% complete, will be shelved until financing comes.

It’s clear that General Motors are now positioning themselves to “hold future products hostage” from Saab Automobile AB unless Saab’s Board of Management and the Swedish Government meet the financial demands of GM.

Here was the original letter to dealerships below:

February 17, 2009

To: All Premium Channel Dealers

Tonight, GM will submit an updated viability plan to the U.S. Treasury as part of the long-term loan agreement. It discusses in detail a significantrestructuring of the company and demonstrates our detailed plan for long-term success as a global enterprise.

As you well know, we have been engaged throughout the last few months in a strategic review for both the HUMMER and Saab brands. While those reviewsare not yet complete, the viability plan covers a wide range of business decisions, including actions associated with HUMMER and Saab that will be of great interest to you.

To that end, I’d like to invite you to participate in an IDL on Wednesday, February 18 (EST). Steve Hill, Steve Shannon, Jim Taylor and I will discuss the highlights of the viability plan as it relates to the Premium Channel. Cadillac dealers are more than welcome to attend, but we will focus specifically on news regarding HUMMER and Saab. Please reference the details outlined below to view the broadcast:

Course Name: Premium February Update

I appreciate your support and participation as we work through this extraordinarily challenging time. You have my commitment that I will share information as soon it is available to do so; in the meantime, please do not hesitate to call me or any member of my team as we work together to serve our customers and get through this difficult period.

Mark McNabb

NA Vice President

Premium Channel

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No Responses to “General Motors Holding Saab 9-5 & 9-4x Hostage Until Financing Comes From Swedish Government”

  1. Phil

    22. Feb, 2009

    Some call this extortion. Sadly seen it before.

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