Tag Archives: Reuters

Saab's Distribution Network Is Key To Future Success

Posted on 18. Feb, 2010 by .

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Saab Automobile’s distribution network is key to the future success of the new company, according to Reuters.

The Saab dealerships in the United States need a financial package now to be saved, and I hope that this becomes available as soon as possible.

Here’s an excerpt from the Reuters piece below:

DISTRIBUTION KEY

Apart from ramping up production, Saab will also have to distribute, sell, service and offer parts and warranties to customers, especially in the United States where an estimated two-fifths of sales are generated.

“Brands that have not paid enough attention to distribution have failed,” said Jim Richter, an operations consultant for the U.S. automotive industry at Net Profit Inc.

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GM CEO Says "Nobody's Showing Money For Saab"

Posted on 06. Jan, 2010 by .

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GM CEO, Whitacre Says “Nobody’s Showing Money For Saab” according to a recent report by Reuters and other news sources.

Just show up with the money, that’s it? It appears that Spyker Cars are showing up with the money and are about to submit their revised by tomorrow with the “money” most certainly outlined there for them.

This was a premature statement as the revised bid has not yet come in to them. This is it, GM best take the message and to the right thing once the bid arrives and seal the deal.

Whitacre is pessimistic about finding a buyer for the Saab brand.

“It’s real easy,” he said today in a meeting with reporters. “Just show up with the money and you can have it, and nobody’s showing up with the money.”

Whitacre said he didn’t see how GM could have tried any harder to sell the brand.

The automaker said earlier that it will continue to wind down the brand as it entertains bids for Saab.

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New Deadline For Saab Bid Is Pushed To January 7th

Posted on 30. Dec, 2009 by .

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TTELA reports that a new deadline for the Saab bid is January 7th. It’s also worth noting that Saab Automobile’s factory is set to restart on January 11th, so let’s use this as our final deadline if the 7th is delayed by a few days.

New deadline for Saab bid

Stockholm, General Motors, Saab Spykers deadline for bids has been pushed back to January 7, states Spykers CEO Victor Muller of Reuters.
Mullen will now be more potential buyers than Spyker.

– This is something we have not heard of it yet, “said Anette Hellgren, union president of the Union at Saab’s Trollhattan factory, if the new deadline.

– I understand that the 31st was something that we thrust in the GM’s side in connection with the settlement announcement. Contrary, I have taken it so that it will hold on until it is finished.

Anette Hellgren says GM for a discussion with Spyker and it not strange that it set a deadline.

But timing is not important, as Koenigsegg, referring to when they pulled out?

– That’s it. There is a business plan that we so much want to follow.

– And the longer it drags on, the tougher it becomes, “says Anette Hellgren.

She does not believe there is a big gap between the end of December and January 7 from that aspect.
[…]

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Beijing Auto to immediately start integrating Saab designs

Posted on 18. Dec, 2009 by .

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Reuters reports that Beijing Auto Industrial Company (BAIC) will immediately start integrating Saab designs.

This is very upsetting to say the least that there is someone benefiting from all of this.

Beijing Auto to immediately start integrating Saab designs

December 18, 2009 11:46 CET

BEIJING (Reuters) — Beijing Automotive Industry Holding Co. said on Friday it will immediately start integrating its newly acquired technology from General Motors Co.’s Saab unit into its vehicles.

BAIC, China’s fifth-largest automaker, plans to start production of its Saab-based own brand of cars as soon as 2011.

BAIC recently acquired the rights to vehicle platforms from Saab for an undisclosed sum. One newspaper report said that BAIC paid $197 million for the assets, which include the intellectual property and tooling for the current-generation Saab 9-5 and some IP from the 9-3.

The purchase was put together in just two weeks, after a larger deal unravelled that would have seen a group led by Sweden’s Koenigsegg Group AB buy all of Saab. BAIC had been a part of Koenigsegg’s bid.

“We will start integrating right away,” Gu Lei, president of BAIC’s technology center, told reporters at a news conference. He added that commercial production for vehicles with the newly acquired technology could start as soon as mid-2011.
[…]

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The Global Media Responds To GM’s Closure Of Saab

Posted on 18. Dec, 2009 by .

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The Global Media respond to GM’s Closure of Saab.

“GM lets Saab die”CNN Money

“GM to ‘wind down’ Saab business “BBC

“G.M. Plans to Close Saab After Talks Collapse”New York Times.

GM to shut down Saab after deal talks collapseMSNBC

“GM will shutter Saab after talks collapse”The Detroit News

“GM to Close Saab After Ending Sale Talks With Spyker “
Bloomberg

” U.S. carmaker General Motors will wind down Saab operations”Reuters

“GM to shut down Saab”The Guardian UK

“Saab Officially Børked”
Jalopnik

“Deal for Saab is dead on the table” Autoblog

“No sale: GM to close Saab ” Consumer Reports

“GM to discontinue Saab after deal talks collapse”Yahoo

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GM’s Ed Whitacre Confirms Spyker Is Sole Saab Bidder

Posted on 15. Dec, 2009 by .

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TTELA & Detroit News report that GM’s new Chairman, Ed Whitacre has confirmed that Spyker is the remaining sole Saab bidder. When asked about his thoughts about the Saab sale, he said “We’ve got our fingers crossed,”.

Here’s the article below loosely translated by Google.

Spyker Saab alone buyer

Dutch Spyker is the only remaining speculator at Saab, said General Motors Chairman Ed Whitacre on Tuesday.

He also believes that it is possible to effect the sale of Saab Spyker prior to the deadline in late December to January, which GM has set up, according Reuters.Whitacre also found in a roundtable with reporters at GM’s headquarters in Detroit that if sales to Spyker put option is that Saab is down.

From Spykers side had on Tuesday night, absolutely no new information about a possible purchase of Saab.

– I can not say anything. We have no comment, said spokesman Mike Spykers of Stainton PR told TT.

Whatever the case, if there were new developments in the negotiations, the schedule or the future direction of Saab, so the response was the same.
– No comment.

Stainton did not go beyond what the company said December 2 when it admitted that it had held talks with General Motors on the Saab. Otherwise, it was also the time “no comment”.

– We can not comment on the task until we have received information from the company, “said union chairman of the Union Anette Hellgren.

– We know of course that the process is complete and we are waiting for a reply, and hope that it will be before Christmas.

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Saab Sells Old 9-5 To BAIC According To Reports

Posted on 04. Dec, 2009 by .

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Reuters reports that Saab Automobile has now officially sold the old Saab 9-5 to Beijing Automotive Industrial Company (BAIC).

We heard about this back in September, but did not realize that the process would be done before the end of the year.

The question I have now though is that while the old Saab 9-5 sedan is now out of production, what will happen to the old Saab 9-5 wagon as it is supposed to continue production in Sweden until early March. […]

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Saab Automobile AB Management & Swedish Government Delegates Arrive In Detroit Prior to GM Board Meeting

Posted on 30. Nov, 2009 by .

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The Saab Automobile management board along with delegates from the Swedish Government will be in Detroit Monday, a day prior to the GM board meeting on Tuesday, December 1st where the fate of Saab will be determined.

It will be at GM’s HQ where Jan-Ã…ke Jonsson and others from Saab Automobile will be giving a presentation on the future of the company.

Here’s the article from Sweden’s The Local

Swedish officials in last ditch Saab rescue plea

A Swedish government representative is due to land shortly in Detroit to provide input to the General Motors (GM) board ahead of a Tuesday meeting where it is expected to decide the fate of Saab Automobile.

State secretary Jöran Hägglund of the Ministry of Enterprise, Energy and Communications (Näringsdepartamentet) is set to meet the GM top brass on Monday in what is viewed as a last ditch effort to convince the US automaker to pick a solution other than shuttering Saab for good.

Hägglund traveled to Detroit on short notice as part of a delegation from both his ministry and the Swedish Ministry of Finance.

When the GM board meets on Tuesday to formulate its decision, it will hold the future of roughly 4,000 residents of Trollhättan in western Sweden in its hands, as well as the fates of an additional 4,000 workers throughout Västra Götaland.

Saab CEO Jan Ã…ke Jonsson criticized the government last week for not doing enough to save Saab, which unions also charged in even more pointed language.

Hägglund’s meeting with the GM leadership is an effort to sort out any remaining questions and give the Detroit bosses insights into the facts following the drawn out and now collapsed process with Koeningsegg.

“Another important mission to also to try to determine what sort of financial muscle the prospective buyers have,” Hägglund told Svergies Televsion (SVT) in a pre-taped segment which broadcast on Sunday night.

Hägglund has previously confirmed that there is interest in taking over Saab from several potential suitors, but he refused to divulge any names.

In the meantime, one name has emerged – that of the American investment group Merbanco.

But the interest remains only if it’s possible to avoid a new, six-month long process, Merbanco CEO Christopher Johnston told the Reuters news agency.

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