Tag Archives: car sales

Stockholm News reports Saab Deal Settled

Posted on 17. Aug, 2009 by .

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The Stockholm news reports that the Saab Automobile sales agreement with General Motors has been settled.

SAAB deal settled

General Motors and Koenigsegg Group have settled the deal over SAAB Automobile, according to public broadcaster SVT. The agreement will be presented tomorrow Tuesday, but still one obstacle remains, namely funding.

An agreement about assigning of shares is signed where Koenigsegg Group, for an unrevealed amount of money, will be handed General Motor’s interest of shares in SAAB. The deal also covers a large number of very complicated agreements about transfer of technology and service between SAAB and General Motors.

The management at SAAB hopes the deal will be the start of a turnaround for the company and that the end of the cram down will come at the end of the week.

Being under a reorganization plan has been devastating for car sales and therefore the management has worked hard for getting the company above the water again. It is important for getting the trust from consumers before the important launching of the new SAAB 9-5 model that will be shown at the car show in Frankfurt next month.

Unclear about funding

But still is one important piece missing in the puzzle for the survival of the SAAB car brand, the vital matter of funding. SAAB has sent an application to the European Investment Bank (EIB) for a SEK 4.4 billion ($600mn) loan. But SAAB must have guarantees from the Swedish state in order to get the loan and negotiations still last with the Swedish National Debt Office, the managing agency of the treasury for the Swedish state. And the Government has the final decision. Since the board of the EIB shall discuss the case 22 September, the decision by the Swedish government must be made by then.

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Saab Hopes For Increased Sales With 9-3x Addition

Posted on 02. Jul, 2009 by .

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TTELA, Trollhattan, Sweden’s own local newspaper reports that Saab Automobile hopes for increased sales with the 9-3x addition coming this fall, says Annicka Troedsson.

The sales as we know during Saab’s reconstruction period were quite dismal, but they have picked up globally as well, particularly since the recent news about Koenigsegg’s memorandum of understanding with Saab Automobile.

However, it’s going to take some serious funding to be secured so that the production will grow and sales will significantly increase.

Here’s their article below.

ROLL IN … Saab hopes much of its 9-3X, which will be available after the summer. According to information manager Annicka Troedsson Saab’s total orders increased slightly in June.

Lousy sales for Saab has lost half of the Swedish market during the reconstruction

TROLLHÄTTAN Worst development of all.

New sales in Sweden the first half of 2009 shows extremely poor figures for Saab. Compared with the same period in 2008, sales have fallen by 63 percent.

Saab percentage pin is the largest for any brand except for a couple of Luxury Vehicles which only sells a few copies each year. The market share halved, from eight percent the first half of 2008 to four percent. It shows the figures provided by trade association Bil Sweden published yesterday.

– It reflects the situation we find ourselves 
 in the recession and recovery, “said Troedsson Annicka, Communications Manager for Saab Sweden.

New owner important

She points out that it is urgently vital to get everything ready with a new owner. But the question is still uncertain, with new speculation about Fiat as a possible Saab Owner, which started again on Tuesday.

– We are in negotiation with Koenigsegg. The speculation is in the media, I do not want to comment, saying Annicka Troedsson.
[…]

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Maud Olofsson Reiterates Swedish Government Will Not Own Saab

Posted on 18. Feb, 2009 by .

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Photo: Anders Wiklund / Scanpix

According to TTELA, Maud Olofsson says again, that since GM is not interested in any continued ownership of GM as stated last night at the Press Conference by Rick Wagoner, the Swedish Government is also not interested in owning Saab. We already knew that though back in December. So, the question really remains, how long will the Swedish Government be able to sustain Saab Automobile AB until it finds a new company.

I think that the reason that the Swedish Government is firm in their delivery and response to the GM press conference, is that they are frankly angry and disappointed at General Motors. They aren’t happy that GM has basically just thrown Saab on their lap giving up on the brand, saying..now you deal with them. I can understand the Swedish Government’s position at this time, and hope that the heat will lessen and they will be able to think more strategically in continuing Saab and providing it the financial support that it needs with both of the loans.

As I said before and I will say again, Swedish Government, please give Saab Automobile AB the financial support at this time. Yes it is tax payer money, but remember Saab has lost money due to GM’s inability to invest in them, their association with GM.

Maud Olofsson, close the door for state ownership of Saab. She did well during a press conference in Stockholm this morning.

STOCKHOLM – We close the door to take ownership of Saab. It announced Industry Minister Maud Olofsson just at the press conference in Stockholm.

The industry Minister eyes Saab Automobile lost. The statements she made recently at Rosenbad can not be interpreted otherwise.
– It is difficult to see GM take ownership of Saab now. It is difficult to see any other owners to enter. And we close the door to take ownership.
[…]

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Saab Automobile’s Global Sales Figures Jan 08 – Jan 09

Posted on 03. Feb, 2009 by .

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Patrik Riese, the Managing Director of GM Sweden, who I guess works directly with Jan-Ã…ke Jonsson Managing Director of Saab Automobile Sweden, is reporting that Saab sales are down primarily due to two reasons to be specific. These two reasons involve the obvious financial crisis, but secondly the speculation about Saab Automobile’s future has made people hold off until the news comes on February 17th.

It will be interesting to see if the sales spike from February 17th until March 31st, if the business plan from General Motors about the future of Saab being independent from the company is positive.

Here is his piece loosely translated from TROLLHÄTTAN’s TTELA

TROLLHÄTTAN sold 659 cars or a reduction of almost two-thirds. So, it looked for Saab in January in the important domestic market.

January figures from Bil Sweden for sales in Sweden looks, not surprisingly given the financial crisis, gloomy out. Car sales fell in January by one third compared with the previous year. But Saab saw the pitch-black out: both the Saab 9-3 and 9-5 raged and represents a decrease of 64 percent or nearly two-thirds.

The market share of Saab fell from 10.7 percent a year ago to 5.8 percent in January this year. If you look at the second crisis, the Swedish brand, Volvo, their market share fell from nearly 22 percent to barely 21. Saab in January was marginally higher than the premium Audi brand in its home market.

– You should remember that there is a single month and that last year’s January sales were strong. I am convinced that speculation about Saab’s future is an important factor that sales are down so much, “said Patrik Riese, head of GM Sweden.

– I think that when we receive a notice of Saab and the uncertainty disappears, we can see a clear rise in sales.
Needless to add, in this context is that of course assumes that the news from GM will be the positive kind.

In particular to 9-5 as the model has quite a few years old now wants Patrik Riese not stress as an explanation of sales Täppet. 9-5 is the 11th place among car models sold in Sweden, with 220 registrations in January.
– We have seen the green version has sold well in domestic market, so people are still interested in it.
– But it is clear that the renewal of the model program is something we look forward, “he adds.

Bil Sweden also echo the proposal of measures that also support Saab to stimulate the Swedish market: green stimuli, scrapping and a time-limited exemption from paying vehicle tax.

……………………..Jan 2009…………..Jan 2008…………..% Change
All Vehicles…………..955…………..1,772…………..-48.2%

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