Tag Archives: car show

Sweden’s SVT Covers Completed Saab Sale By GM

Posted on 17. Aug, 2009 by .

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Sweden’s SVT covers the completed Saab Automobile sale by General Motors.

The deal will be presented on Tuesday, but the financial situation has still not been resolved until the European Investment Bank funds have been granted.

Here is the loose translation via Google translate:

Now, GM and Koenigsegg Group made up of Saab, as sources of reference. The deal will be presented on Tuesday, but still remains an obstacle and it is funding.
Video

A share transfer agreement is signed where Koenigsegg Group for an undisclosed sum taking over the American automotive company General Motors shares in Saab Automobile. The deal also includes a host of agreements on transfer of technology and services between Saab and GM and is described as very complicated.

Hope pretext
The agreement hopes Saab management on a turnaround for the company and that it was already the end of the week to come out of the reconstruction which it finds itself in.

It has been devastating for the sale of Saab Cars and Saab’s management has therefore worked hard to get the company back on its feet. It is important to bring back customer confidence for the important launch of the new Saab 9:5 used to show up on car show in Frankfurt in the middle of next month.

Funding is not clear
Still, however, the most important piece of Saab’s survival and it is funding. Saab has submitted the application to the European Investment Bank EIB for a loan of 600 million dollars or 4.4 billion kronor. But to get the loan must Saab have government guarantees, and there are still ongoing negotiations with riksgälden. Ultimately, it is government that must make the crucial decision.

September 22 must all be ready for then, the Governing Board of the EIB deal with the matter.

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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 History Visits “Saabs @ Carlisle” – 5.16.2009

Posted on 18. May, 2009 by .

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This past Saturday, May 16th, 2009, I managed to get down to the annual Saab show in Carlisle, Pennsylvania “The State of Independence” with a colleague of mine’s new 2008 9-3 2.0T SportCombi.

The Saab show, launched by the Central Pennsylvania Saab Club 10 years ago was apparently suggested by the local Opel club 10 years ago this weekend. This suggestion to have Saabs placed in the show adjacent to the Opels would make some good sense, since professionally speaking, Saab have partnered with Opel in development for the past 15 years or so. Having Opels & Saabs at a car show, alongside each other made logical sense. Since then, the incremental growth of the Saab show at the event over the past 10 years has been outstanding. It was to be expected that this year, over 200 vehicles turned out, making it another record attendance.

While the weather was variable, the rain held up throughout the day during my visit and as a result, I had quite the time getting to take more of an in-depth experience since my first visit, a whole two years ago when the Saab USA Heritage Collection was present.

As I circumnavigated the Highways, Streets, Roads, Avenues, Vistas and other developed marque designations for Saab models, I got to see a nice variety including just about every production Saab production model. I also explored other manufacturer’s camps this year including Saab’s Swedish sister, Volvo. In speaking with them, they said, they continue to be surprised by just how many Saabs show up year after year without fail. I told them, that these people are devoted so much that they may break another record this year of attendance, even when the future direction of Saab Automobile has been uncertain for the past year.

There were also many dealerships involved this year, three this time including an independent and Saab History sponsor, Swedish Motor Cars of Washington, D.C.!

I have said it before and I will say it again, it is clear that the the “SAAB” presence far outweighed all other marques on the lawn that day the sheer square footage that was designated as “Saabs @ Carlisle”.

Unlike my previous visit two years ago, I managed to visit the vendor spaces that included those specifically selling a plethora of SAAB parts, accessories, product literature & toys. One of the vendors showed up for the first time this year, where I managed to acquire an incredible amount of never before seen videos and other television advertisements, stay tuned!

Throughout the event, the photography, conversing with colleagues, and all other activities were great, however the memorable experience this year was the tribute to Bob Sinclair during the lunch hour where we gave a moment of silence.

I hope that this summary and photographs best captures some of the major Saab highlights as well as the other key aspects of the Saabs @ Carlisle event this past Saturday, May 16th, 2009.

This second visit was very good and I am glad that I had the opportunity to attend it.

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Saab Car Show in Frankfurt, Germany – Photos

Posted on 16. Sep, 2008 by .

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Photo Credits: Saab Automobile Germany

The folks from Saab Automobile Germany and the local dealership in Frankfurt that hosted the classic Saab car show this past weekend, have provided Saab History photos of the event.

As you can see with the photos, there were a number of vehicles present, by local Saab Enthusiasts in Germany as well as Switzerland. On hand, was Peter Backstrom, curator of the Saab Car Museum in Sweden as well as Andrew Dyson, Saab designer at GM Europe.

During the event there was live music provided by Swedish singer Pia Fridhill, and even a live demonstration of a Saab 99 restoration by a master technician at the Saab Zentrum Frankfurt.

Evidently, there was even a parts market, books on hand in addition to model cars and tv clips showing vintage Saabs in action.

Overall, it looks like it was a great time had by all that were in attendance.

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Production Concept