Is it the End of the Line for Saab?

[Sabre]

Torque Report

Yesterday Saab filed an application for protection from its creditors, but this morning that application has been rejected by the Swedish court. Saab's application was meant for protection from its creditors, which would prevent the automaker from being pushed into bankruptcy.

If the plan government protection had been approved, Saab would have undergone a voluntary reorganization, but now that the court has denied the request, what's next? Saab plans to appeal the court's decision, but the court does not believe that a reorganization will work for Saab.

Currently Saab's workforce has not received their August wages and production remains at a standstill. This latest ruling by the Swedish government could lead to Saab's creditors forcing the automaker into bankruptcy.

Saab currently owes its suppliers $210 million.

That sucks, I would hate to see this company go down.

[complacent]

that stinks.

[Sabre]

Saab Officially Files for Bankruptcy, The End is Here

It's being reported this morning that Saab has officially filed for bankruptcy protection in a Swedish district court. Saab's bankruptcy comes two years after GM announced that it was going to wind down the brand as part of its reorganization.

The past two years have been filed with non-stop ups and downs for Saab, but after many failed funding attempts it looks like the end is finally here. Saab production has been stalled since earlier this year when the automaker ran out of money to pay its creditors. Investment attempts from Chinese companies Pang Da and Youngman gave us hope that Saab would survive, but vetos from GM prevented any of those deals from ever happening.

After 64 years it's time to say goodbye to Saab.

very sad to see them go

[Raven]

They brought turbocharging as we know it to regular road cars.

[Mr Kleen]

I'm glad they introduced turbos. Too bad they didn't introduce good looking cars.
#saabtroll

[zaxrex]

They brought turbocharging as we know it to regular road cars.

And water injection!
And ignition key sockets placed in horizontal surfaces so that they get gummed up with animal crackers/gummie bears.

[captainslow]

Interesting read - a business school research paper on the causes of Saab's demise.
http://www.business-school.ed.ac.uk/__d ... 9-2011.pdf

[Raven]

Wow, Saab has been screwed for decades. They've been in the red since GM took over and GM kept them for 20 years.

[PGT]

"Born From Jets" was when they truly jumped the shark

[Sabre]

Saab Cancels Warranties, New Saabs to be Sold "As-Is"

Yesterday Saab officially filed for bankruptcy, officially ending a two year struggle for the brand to stay alive after GM announced it was killing the brand. Now that Saab is officially being liquidated more details are coming out about what current Saab owners can expect for the future of their beloved Saabs.

According to Saab North America spokeswoman Michele Tinson, warranties have "been indefinitely suspended for new sales and claims stopped for current" warranties. This means that any Saabs still on dealer lots will be sold as-is and current owners will see their warranties voided.

Although Saab officially filed for bankruptcy yesterday, Saab CEO Victor Muller hasn't given up hope that a new buyer will be found. "Even if this may look like the end, it doesn't necessarily have to be. It could be a new beginning and Saab could rise from the ashes like a phoenix," he said.

Ouch

[Raven]

I really like Muller's never say die attitude.

[captainslow]

GM said it'll honor the warranties of Saabs sold during its ownership (until 2010). I know two people who bought the new 9-5 bc they wanted to support Muller. $50k for a car with no warranty and limited parts supply. Yikes.

Edit - the car shares its platform, engine and turbo with Buicks, so maybe parts won't be that difficult to find.

[PGT]

at half, might be worth a gamble.

[captainslow]

at half, might be worth a gamble.

Yeah, might be. I just read on Saabsunited:

SAAB Parts continue to operate as a stand alone entity, it has not been affected by the bankruptcy. For Swedish car makers delivery parts for discontinued cars are guaranteed by law up to 10 years after the model went out of production. Since Saab Parts is a profitable company, parts should not be an issue for Saab’s cars for a long time.

[Raven]

WOOOOT!!! I'm getting my 2001 9-5 Aero back from my parents in a few weeks. I was worried I might not be able to source DI cassettes and CPSs any more.

[zaxrex]

Where new Saabs are left to die

[Sabre]

[zaxrex]

Get in line for the last production Saab

[zaxrex]

Ally Financial started auctioning off the last New Saabs today.
Dealers get to bid on a first cache of 45, they are listed as below;

9-3
(1) 9-3 convertible, Manual, Laser Red, Premium Audio, Black roof, Comfort package
MSRP of $43,455

(10) 9-3, 2.0T, Automatic, Glacier Silver, Diamond Silver, Nocturne Blue (3), Jet Black (3), all with Comfort package, all with MSRP of $34,670 except $34,120 for one Black car, $35,420 for one Black car with 17" 5 spoke wheels

(2) 9-3, 2.0T, Manual, Jet Black (no moonroof or Comfort package) and MSRP of $29,725, Nocturne Blue (Comfort package, MSRP of $32,570)

(12) 9-3, XWD, Automatic, Arctic White, Black (2), Carbon Gray (2), Java, Diamond Silver (2), Nocturne Blue, all with Comfort Package, all MSRP of $36,815 except $36,265 for Arctic White and one Black car, $37,360 for Black car with Bose radio

(1) 9-3, XWD, Manual, Carbon Gray, MSRP of $36,815
(1) 9-3 Aero, Automatic, Jet Black, MSRP of $38,860
(1) 9-3 Aero XWD, Manual, Glacier Silver, MSRP of $40,285

(1) 9-3 SportCombi, Automatic, Carbon Gray, MSRP of $35,350
(1) 9-3X, Automatic, Laser Red, MSRP of $40,095
MSRP of 9-3 cars: one $29,725, others are $32,570-40,095

9-4X
(1) 9-4X Premium, Automatic, Birch White (with panoramic moonroof)
MSRP of $41,920

9-5
(2) 9-5, Manual, Jet Black, Fjord Blue (neither with moonroof), MSRP of $39,350 to 39,600

(5) 9-5, Automatic, Arctic White (2), Carbon Gray, Diamond Silver, Fjord Blue, MSRP of $46,655 (Fjord Blue and Diamond Silver with no Technology Package) or $49,145 (Arctic White and Carbon Gray, with Technology Package)

(4) 9-5 V6, Automatic, Carbon Gray, Granite Gray, Oak, Black, MSRP of $48,855 (Granite Gray and Oak, both with no Technnology Package) or $53,780 with Technology Package

(3) 9-5 Aero, Automatic, Diamond Silver (2) MSRP of $51,385, Black and MSRP of $53,780
MSRP: two for 39k, others are $46,655-53,780