Discussion
Fittster said:
Do car dealers operate client accounts? Even if I wanted a new Saab, I'd be reluctant to give a deposit to a dealer with the manufactures future in so much doubt.
If the manufacture goes, it's bound to hit the dealer and I'd be worried that any customer deposits they have may disappear.
Quid(s) pro Quo…worry worry worry Live life man, go for it slap it all on a 9-5 turbo aero with big wheels and ..and….burn rubberIf the manufacture goes, it's bound to hit the dealer and I'd be worried that any customer deposits they have may disappear.
Autocar have now picked up the story.
http://www.autocar.co.uk/News/NewsArticle/AllCars/...
Seems the production line has been stopped now for over a week and won't be able to be restarted for a week after they recieve any extra funding, whenever that might be. They must be losing a fortune not being able to fulfill orders. The Swedish Finance Minister has basicaly said on TV last night, no more money from them until Spyker produce a sound, thought out business plan.
http://www.autocar.co.uk/News/NewsArticle/AllCars/...
Seems the production line has been stopped now for over a week and won't be able to be restarted for a week after they recieve any extra funding, whenever that might be. They must be losing a fortune not being able to fulfill orders. The Swedish Finance Minister has basicaly said on TV last night, no more money from them until Spyker produce a sound, thought out business plan.
The Hypno-Toad said:
DonkeyApple said:
The global downturn must have hit architects and people with beards harder than we thought.
All the architects and lawyers started buying Audis a looonnnngggg time ago. That's one of the many problems.As you say, most are now driving Audi, BMW, MB, Lexus Hybrid etc.
The Hypno-Toad said:
All the architects and lawyers started buying Audis a looonnnngggg time ago. That's one of the many problems.
Maybe it's down to bad marketing then. I seem to recall that they used to be very proud of the fact that the cars were specifically designed to withstand collisions with large bovinesque creatures? Surely, this would make them the the ultimate car for anyone needing to drive through an English town centre at night?
DonkeyApple said:
The Hypno-Toad said:
All the architects and lawyers started buying Audis a looonnnngggg time ago. That's one of the many problems.
Surely, this would make them the the ultimate car for anyone needing to drive through an English town centre at night?http://www.pistonheads.com/gassing/topic.asp?h=0&a... that time of year again - fat Scouse women at Aintree..
The Hypno-Toad said:
Autocar have now picked up the story.
http://www.autocar.co.uk/News/NewsArticle/AllCars/...
Seems the production line has been stopped now for over a week and won't be able to be restarted for a week after they recieve any extra funding, whenever that might be. They must be losing a fortune not being able to fulfill orders. The Swedish Finance Minister has basicaly said on TV last night, no more money from them until Spyker produce a sound, thought out business plan.
Right back on the important stuff.http://www.autocar.co.uk/News/NewsArticle/AllCars/...
Seems the production line has been stopped now for over a week and won't be able to be restarted for a week after they recieve any extra funding, whenever that might be. They must be losing a fortune not being able to fulfill orders. The Swedish Finance Minister has basicaly said on TV last night, no more money from them until Spyker produce a sound, thought out business plan.
Spyker sent the Swedish government their business plan today, which would suggest that cashflow is very, very low. It would appear that the loan will be backed up by the sale of both the factory and the parts business to a foreign investor and then Saab will rent these facilities back. The Swedish Government will need to approve both the loan and the foreign investor, who I would guess is Antonov.(The same person that GM insisted had nothing to do with the original Saab buy-out.)
From the sound of things Saabs future is in the hands of the Swedish Government & will be decided in the next 48hrs.
I am not that bothered, sure its a shame but what I cannot be doing with is that in being a Saab owner, people who know I own one and are aware of their predicament point it out to me like I should be more concerned or take it as evidence of personal failure, like my purchase some four years ago was the catalyst for Saabs problems and somehow justifies their own purchase of another brand.
I bought a Saab, ok, my second one but I am not going to commit suicide if they go under, I wasn't going to buy another anyway !
I bought a Saab, ok, my second one but I am not going to commit suicide if they go under, I wasn't going to buy another anyway !
The Hypno-Toad said:
Autocar have now picked up the story.
http://www.autocar.co.uk/News/NewsArticle/AllCars/...
Seems the production line has been stopped now for over a week and won't be able to be restarted for a week after they recieve any extra funding, whenever that might be. They must be losing a fortune not being able to fulfill orders. The Swedish Finance Minister has basicaly said on TV last night, no more money from them until Spyker produce a sound, thought out business plan.
For some reason the Swedish Government don't want it to succeed it seems, but I don't see the difference between China buying Volvo and an Russian guy wanting to buy into SAAB. Politicians don't make good businessmen but acting like they know how to run a car company…hhmmm Good Brand worth preserving as an independent car maker as the big guns have swallowed up most small companieshttp://www.autocar.co.uk/News/NewsArticle/AllCars/...
Seems the production line has been stopped now for over a week and won't be able to be restarted for a week after they recieve any extra funding, whenever that might be. They must be losing a fortune not being able to fulfill orders. The Swedish Finance Minister has basicaly said on TV last night, no more money from them until Spyker produce a sound, thought out business plan.
Latest update:
The Swedish Government are going to let Saab sell their factories and parts business to a new company calledSaab Ocean Finance Saab Automobile AB Properties. The boss of this new company is, as suspected Mr Antonov. The Swedish Government are still investigating him but if given the all clear will allow him to buy 30% of Saab as well. But there are two major road blocks still to be crossed.
1.) Antonov's money must be transfered from a bank that isn't owned by him.
2.) And as large proportion of the freed up funds will have to go to the European Investment Bank to pay off existing debt, they have to approve the deal too.
However the Government have been nice to Saab and allowed them a small payment of 30 million euros in order to pay off some short term debts (like the dashboard manufacturers) to allow them to get the production restarted on the 24th and I'm guessing to help them make payroll at the end of the month.
Will it pay for enough publicity to launch the 9-5 Estate properly? No.
Will let them buy the tooling for the old Mini to make the new 9-2? No.
Will this deal get them through til the end of the year (if it goes ahead?) Maybe.
Are they out of the woods and into the gingerbread house? No. Not by a long chalk.
The Swedish Government are going to let Saab sell their factories and parts business to a new company called
1.) Antonov's money must be transfered from a bank that isn't owned by him.
2.) And as large proportion of the freed up funds will have to go to the European Investment Bank to pay off existing debt, they have to approve the deal too.
However the Government have been nice to Saab and allowed them a small payment of 30 million euros in order to pay off some short term debts (like the dashboard manufacturers) to allow them to get the production restarted on the 24th and I'm guessing to help them make payroll at the end of the month.
Will it pay for enough publicity to launch the 9-5 Estate properly? No.
Will let them buy the tooling for the old Mini to make the new 9-2? No.
Will this deal get them through til the end of the year (if it goes ahead?) Maybe.
Are they out of the woods and into the gingerbread house? No. Not by a long chalk.
Latest update.....
& if I have read the Google translation right the news is bad; very,very,bad.
The EIB have said fine you can sell the factories to Antonov, no worries but by the way we want the money we have previously lent you back.....
all 400 million euros......
within 90 days.....
Otherwise known as they have to sell the factories to Antonov for more than 400 million euros (or find 400 millon euros from someone else) or you're bankrupt.
Even if they do sell the factories to Antonov for that amount all that will mean is that they will have got the EIB off their back. How are they going to pay wages? Or the suppliers that are still owed millions? Or the taxman? If they had managed to keep the EIB line of credit going they might have made it. Now?
Its looking like they're long gone, buddy.
& if I have read the Google translation right the news is bad; very,very,bad.
The EIB have said fine you can sell the factories to Antonov, no worries but by the way we want the money we have previously lent you back.....
all 400 million euros......
within 90 days.....
Otherwise known as they have to sell the factories to Antonov for more than 400 million euros (or find 400 millon euros from someone else) or you're bankrupt.
Even if they do sell the factories to Antonov for that amount all that will mean is that they will have got the EIB off their back. How are they going to pay wages? Or the suppliers that are still owed millions? Or the taxman? If they had managed to keep the EIB line of credit going they might have made it. Now?
Its looking like they're long gone, buddy.
The Hypno-Toad said:
Latest update.....
& if I have read the Google translation right the news is bad; very,very,bad.
The EIB have said fine you can sell the factories to Antonov, no worries but by the way we want the money we have previously lent you back.....
all 400 million euros......
within 90 days.....
Otherwise known as they have to sell the factories to Antonov for more than 400 million euros (or find 400 millon euros from someone else) or you're bankrupt.
Even if they do sell the factories to Antonov for that amount all that will mean is that they will have got the EIB off their back. How are they going to pay wages? Or the suppliers that are still owed millions? Or the taxman? If they had managed to keep the EIB line of credit going they might have made it. Now?
Its looking like they're long gone, buddy.
Yup..... looks like the end of the road to me.& if I have read the Google translation right the news is bad; very,very,bad.
The EIB have said fine you can sell the factories to Antonov, no worries but by the way we want the money we have previously lent you back.....
all 400 million euros......
within 90 days.....
Otherwise known as they have to sell the factories to Antonov for more than 400 million euros (or find 400 millon euros from someone else) or you're bankrupt.
Even if they do sell the factories to Antonov for that amount all that will mean is that they will have got the EIB off their back. How are they going to pay wages? Or the suppliers that are still owed millions? Or the taxman? If they had managed to keep the EIB line of credit going they might have made it. Now?
Its looking like they're long gone, buddy.
Not what I wanted to hear, the week before I put my car up for sale
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