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- 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...
- Saab Is Tottering On The Brink Of Collapse - Financing Falls Thru
Saab breathed a sigh of relief a few days ago when it announced a deal with a Chinese automaker that would have Hawtai Automotive Group gobble up 29.9% of Saab and loan it more money, funneling to Saab $216 million. With the money, Saab was set to pay...
- Saab Factory Shut Down Again By Suppliers Who Aren't Getting Paid For Deliveries
and they aren't happy. For the second time in barely a week the Saab headquarters plant in Sweden has had the assembly line shut down by suppliers who refuse to deliver critical parts because they claim they haven't been paid for deliveries. Saab...
- Saab Lives, Thanks To Spyker Auto
Well, perhaps the turmoil of the last year is over for at least one of GM's orphaned brands, Saab. For 20 years GM has had control of Saab but it now has reportedly struck a deal with Spyker Cars NV, a Dutch sports car builder, for sale of the trouble...
- Dutch Luxury Car Maker Bids For Saab
First it was reported that any Saab sale was kaput. Then it was reported that a China company was mulling it over and a sale looked likely. Now, they say the Dutch are back in the buying game, as luxury car maker Spyker Cars NV was reported to be the...
Law and Rights
Saab Sale Dies, and Saab With it
GM received word today that the only buyer for the Saab brand has backed out. It looks like the Saab sale will die and Saab with it.
GM had notified the Saab dealers that it would close Saab down if it didn't find a buyer and for months the only company interested, Sweden's supercar builder Koenigsegg AB, was working with GM to make a deal happen. That came to a screeching halt today.
Now, with Penske backing out of the Saturn sale, GM is left with two more brands to be shuttered, leaving hundreds of Saab dealers with empty stores and thousands of owners with no Saab store service department.
Just two weeks ago GM had warned the Saab dealers of the chance of Saab being shut down in a failed sale, but dealers kept a stiff upper lip, as Saab sales took a nose dive of 62% leading up to October. This is no time to be a Saab dealer, and no time to be a Saab owner.
If your Saab needs anything fixed, better get it in the shop while there still is a shop to get into.
Meanwhile, orphaned owners with evaporating warranties are left wondering what happens next. If you're one of those orphaned owners, now might be a good time to buy a Ford, or almost anything else. The trade in value of that Saab is not likely to be going anywhere but down.
Burdge Law Office
http://www.newcarlemonlaw.com/
http://www.newcarlemonlaw.com/
Because life's too short to be driving a lemon.
Subscribe in a reader- 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...
- Saab Is Tottering On The Brink Of Collapse - Financing Falls Thru
Saab breathed a sigh of relief a few days ago when it announced a deal with a Chinese automaker that would have Hawtai Automotive Group gobble up 29.9% of Saab and loan it more money, funneling to Saab $216 million. With the money, Saab was set to pay...
- Saab Factory Shut Down Again By Suppliers Who Aren't Getting Paid For Deliveries
and they aren't happy. For the second time in barely a week the Saab headquarters plant in Sweden has had the assembly line shut down by suppliers who refuse to deliver critical parts because they claim they haven't been paid for deliveries. Saab...
- Saab Lives, Thanks To Spyker Auto
Well, perhaps the turmoil of the last year is over for at least one of GM's orphaned brands, Saab. For 20 years GM has had control of Saab but it now has reportedly struck a deal with Spyker Cars NV, a Dutch sports car builder, for sale of the trouble...
- Dutch Luxury Car Maker Bids For Saab
First it was reported that any Saab sale was kaput. Then it was reported that a China company was mulling it over and a sale looked likely. Now, they say the Dutch are back in the buying game, as luxury car maker Spyker Cars NV was reported to be the...