Law and Rights
Once upon a time, Saab was a shining star in the sea of vehicles GM built or had a hand in building. Now, with Swedish creditors pounding on the doors and Swedish employees unpaid, the factory shuttered in Sweden (although the one in Mexico has its doors open), and the Chinese government saying the Chinese "white knight" money is doubtful - the "administrator" put in charge of the Swedish company appears to be fed up, according to news reports.
Saab dodged the bankruptcy bullet last month but without money to get by from day to day, it may be only a matter of time. That's a shame in many ways, not the least of which is the fact that reviewers like what they saw when Saab unveiled it new 9-4X model only weeks ago.
Orphaned by GM during the GM bankruptcy, and shuttled back and forth among suitors ever since while it struggled for cash flow, it likely now faces the end of the fight soon. Perhaps very soon.
As we have been saying for months, maybe you need to think hard before you buy a new or used Saab unless, of course, you can get a bunch of spare parts as part of the sale. You may not be able to find a dealer who has any when your Saab's parts wear out or break down.
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- Saab Kicked Out Of Court; Preparing For The Worst As Bankruptcy Nears
Saab's effort appears to have failed to get it non-bankruptcy court protection from the millions of dollars it owes to creditors and almost two weeks of employee salaries, according to Automotive News and The Detroit Bureau industry insiders. While...
- Saab Troubles Continue As Asset Seizure Nears
It's a sad story for Saab owners around the world. The only vehicle actually being built right now is reportedly just the 9-4X Suv model with the rest of the Saab model line on hold while every day is undoubtedly causing heartburn in the board room....
- Chinese Buy Control Of Saab - Well, They Own Everything Else Already Anyway, Right?
Swedish car maker Saab has been struggling for months to survive - in fact, ever since GM dumped them after the GM bankruptcy - and things are still shaky, but now there's a white knight investor to the rescue. Well, actually a Chinese knight, sort...
- Saab Opens Manufacturing Plant - And Gets Shut Down Again - It Just Never Ends
Saab just can't seem to get it up and running as the money continues to run out. Last month it made a deal with China's largest dealer network that promised to refuel the Swedish automaker with badly needed funds to reopen its plant, according...
- For Saab, What's Behind Door #2? Or Is It #3? Survival?
Cash-shy Swedish carmaker Saab is still out panhandling it seems, but maybe things are looking more hopeful. After the Russian banker (Vladimit Antonov) fell through, after the Chinese company (Hawtai) didn't happen, now they're on to "door #3"...
Law and Rights
Is Saab about to disappear? Bankruptcy "just hours away" Swedish press says
Once upon a time, Saab was a shining star in the sea of vehicles GM built or had a hand in building. Now, with Swedish creditors pounding on the doors and Swedish employees unpaid, the factory shuttered in Sweden (although the one in Mexico has its doors open), and the Chinese government saying the Chinese "white knight" money is doubtful - the "administrator" put in charge of the Swedish company appears to be fed up, according to news reports.
Saab dodged the bankruptcy bullet last month but without money to get by from day to day, it may be only a matter of time. That's a shame in many ways, not the least of which is the fact that reviewers like what they saw when Saab unveiled it new 9-4X model only weeks ago.
Orphaned by GM during the GM bankruptcy, and shuttled back and forth among suitors ever since while it struggled for cash flow, it likely now faces the end of the fight soon. Perhaps very soon.
As we have been saying for months, maybe you need to think hard before you buy a new or used Saab unless, of course, you can get a bunch of spare parts as part of the sale. You may not be able to find a dealer who has any when your Saab's parts wear out or break down.
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Subscribe in a reader- Saab Kicked Out Of Court; Preparing For The Worst As Bankruptcy Nears
Saab's effort appears to have failed to get it non-bankruptcy court protection from the millions of dollars it owes to creditors and almost two weeks of employee salaries, according to Automotive News and The Detroit Bureau industry insiders. While...
- Saab Troubles Continue As Asset Seizure Nears
It's a sad story for Saab owners around the world. The only vehicle actually being built right now is reportedly just the 9-4X Suv model with the rest of the Saab model line on hold while every day is undoubtedly causing heartburn in the board room....
- Chinese Buy Control Of Saab - Well, They Own Everything Else Already Anyway, Right?
Swedish car maker Saab has been struggling for months to survive - in fact, ever since GM dumped them after the GM bankruptcy - and things are still shaky, but now there's a white knight investor to the rescue. Well, actually a Chinese knight, sort...
- Saab Opens Manufacturing Plant - And Gets Shut Down Again - It Just Never Ends
Saab just can't seem to get it up and running as the money continues to run out. Last month it made a deal with China's largest dealer network that promised to refuel the Swedish automaker with badly needed funds to reopen its plant, according...
- For Saab, What's Behind Door #2? Or Is It #3? Survival?
Cash-shy Swedish carmaker Saab is still out panhandling it seems, but maybe things are looking more hopeful. After the Russian banker (Vladimit Antonov) fell through, after the Chinese company (Hawtai) didn't happen, now they're on to "door #3"...