How Does Fiat’s Interest In GM Europe, Affect Saab?

Posted on 04. May, 2009 by in 2000-2009

The news about Fiat’s interest in GM Europe is now getting some responses from people, including a Saab Automobile union representative in Sweden.

According to the local, Annette Hellgren, a union representative at Saab Automobile, said on Monday that a merger with Fiat would signal a change of direction for the Trollhättan-based firm. Current policy is for Saab to be able to stand on its own, independent of the the GM concern.

“This line of reasoning is new to us. We have not heard this before, I have to say. We have however heard that Fiat is interested in Opel,” Hellgren said implying that there may have been some misunderstanding in the media, or at Fiat.

I wonder if this possible change with Fiat & Saab Automobile, will be affect the existing reconstruction efforts underway? I have sent an e-mail into Saab Automobile to ask for more details.

I leave you with a brief snippet of the article on the local.

Swedish car maker Saab could become part of a new European car giant after Fiat CEO Sergio Marchionne expressed an interest in General Motors’ European brands.

Fiat has recently signed a cooperation agreement with US firm Chrysler and now plans to turn its sights to General Motors’ stable of brands in Europe, according to details emerging from an interview with Marchionne in the Financial Times.

This would mean that Sweden’s Saab could join Vauxhall, Opel, Alfa Romeo and Fiat models within the new firm.

“I can not comment these details,” Fiat spokesperson Eric Geers told news agency TT.

Annette Hellgren, union representative at Saab Automobile, said on Monday that a merger with Fiat would signal a change of direction for the Trollhättan-based firm. Current policy is for Saab to be able to stand on its own, independent of the the GM concern.

“This line of reasoning is new to us. We have not heard this before, I have to say. We have however heard that Fiat is interested in Opel,” Hellgren said implying that there may have been some misunderstanding in the media, or at Fiat.

The ambitious plans for a transatlantic car empire received the approval of stock markets with Fiat stock up six percent in Milan on the first day of trading after the reports emerged.

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No Responses to “How Does Fiat’s Interest In GM Europe, Affect Saab?”

  1. Peter Gilbert

    04. May, 2009

    This could be the best way to go, as to be totally independent, would not work, with cost of development. Interesting, that Fiat also has made aircraft for decades. I even have their models, going back to WWII.

    As usual, the Neanderthal attitude of of the Vauxhall union workers, better change, or they will all be out of work. This would be a European powerhouse.

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  2. Steve G

    04. May, 2009

    Interesting. From today’s AP

    Saab declined to comment on whether Fiat was one of the roughly 10 bidders who have expressed serious interest in the Swedish brand.

    Saab spokeswoman Gunilla Gustavs said the sales process is continuing according to plan and that a deal is expected to be signed before the end of June.

    “We are now entering a process where we are narrowing down the number of interested bidders. There are around 10 who are more serious, with whom we have held deeper talks and shared more information,” she said.

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  3. Ryan

    05. May, 2009

    Steve,

    Thank you very much! I have just hear more about their response.

    I really wonder if this is just a distraction from their reconstruction process at this point.

    R

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  4. Ryan

    05. May, 2009

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