Saab gone?

[The Hypno-Toad]

News coming out of Sweden tonight would seem to suggest that the production line in Trollhatten has been shut down. The Swedish government are saying that they haven't recieved any customs duties for months and want the money and are not letting any parts deliveries out of the docks.
Saab are saying that that the government has not asked them for the money and that if they do officially ask they will get paid. (This is what is becoming to be known as "the football club defence". Make sure you don't pay any taxes or VAT because if the C&E take you to court it looks like the government are trying to close your beloved football team/car company?). They are also saying that the real reason for the shutting down of the line is that GM have raised the prices of the parts against contractual agreed prices.

Saab filed for the Swedish equivlent of Chapter 11 last week (Kept that quiet.)

The Swedish government said that there is no money for a bailout last week.

Their advertising agency has not been paid since December. (which could explain the lack of anything about the 9-5 estate.)

Victor Mueller seen jumping on a flight to Switzerland with a large bag of euros.....

Gone?

Edited by The Hypno-Toad on Tuesday 29th March 22:05

[kprm77]

Hope not Makes sense that there have been no ads for the new 9-5 Estate. Nowt in the motoring press that I have seen either..

[Lord Flathead]

What a shame I thought they had pulled through it.

[Pothole]

kinda makes me glad I never got that job with them

[Baryonyx]

I thought Spyker were in charge now?

[Horns]

Saab died in the early 90's. About time the corpse stopped twitching.

[Steve in Stoke]

Not paying their bills - http://www.businessweek.com/ap/financialnews/D9M92...

[The Hypno-Toad]

Actually don't worry its all ok. One of the Saab fan sites is reporting that nice Uncle Victor says its just a glitch in the accounts computer and everyone will be paid shortly.

So that's alright then.

I've heard very strong rumours that there are large dealerships in the UK who have delivered less than 30 new retail cars in the first three months of this year. How is that sustainable?

[The Hypno-Toad]

Seemingly the most up to date and informative article about the current issues.

http://blogs.wsj.com/source/2011/03/30/saab-autos-...

Oh dear.

Also the advertising agency were not unpaid, they were sacked according to whoever is running Saab at this moment & they are now claiming they weren't paid as part of an ongoing dispute.

Some Saab fans are now claiming that because Richard Branson was once seen driving an ethanol powered 9-5 and this Antonov gangster geezer once met him at a party, Virgin are about to invest. Talk about clutching at straws.

[HellDiver]

What, no more expensive, rehashed Vectras? Damn, what are we going to do?

[Ozzie Osmond]

Vehicle sales haven't exactly been "buoyant" in the first quarter of 2011. Saab have no small car product and no footballer specials either, so caught between the devil and the deep blue sea.

As for Syker, there's always been a risk that whoever bought Saab would end up going down with it. Let's hope it's all just a temprorary hiccup with the authorities...

[jake15919]

How to run a business. (A guide for the modern tt.)

1 Run up bills and buy stock. Do not pay taxes etc.
2 Put company into bankruptcy/receivership.
3 Wipe out all debts.
4 Get rid of staff with no redundancy costs.
5 Buy back company assets for peanuts.
6 Rehire desperate former employees on a fraction of what you used to pay them.
7 Laugh your cock off.

Not that I'm suggesting for one minute that this is the case with Saab.

[Petemate]

So is this why my Saab 2006 9-3 is in my dealer waiting for a hub bearing assembly, which they told me on Friday last week is on BACK ORDER? Chroist, this is a part which is fitted to all 2003-on 9-3 cars, and Vectras of the same era (without some sort of stability gizmos) and it is not available? (I thought car makers were obliged to keep parts available for cars up to 10 years old? And this is a part fitted to CURRENT PRODUCTION CARS!!) despite the large aftermarket parts emporiums selling hubs with bearings made by the same manufacturers supplying Saab in Saab boxes? And I am in a bleddy hire car at cost to me since Monday with no end in sight? A disgrace. Even though it is being covered by warranty, I am already out of pocket because the hire car has cost me more that a pattern hub would. I just hope the garage have not partly dismantled it because if it is still in one piece I will be collecting it Sat and doing the job myself if they have not sorted it by Friday (can't get it sooner as I am at work until Fri night)
www.peed-offanddisillusioned.com

ETA
Ooops - by entereing the dubbelews, I have created an imaginary website. Sorry guys 'n' gals - I have neither the money nor the IT competency to create a website. Please do not try to access it - it does not exist......

Edited by Petemate on Wednesday 30th March 15:14

Edited by Petemate on Wednesday 30th March 15:16

[Pablo16v]

Ozzie Osmond said:

Vehicle sales haven't exactly been "buoyant" in the first quarter of 2011. Saab have no small car product and no footballer specials either, so caught between the devil and the deep blue sea.

As for Syker, there's always been a risk that whoever bought Saab would end up going down with it. Let's hope it's all just a temprorary hiccup with the authorities...

Going by the amount of 59 and 10 plate Saabs I've seen recently (Aberdeen area), I though that perhaps Spyker had managed to turn the company around. Hell, I've even seen a couple of new 9-5's.

[Petemate]

Pablo16v said:

Going by the amount of 59 and 10 plate Saabs I've seen recently (Aberdeen area), I though that perhaps Spyker had managed to turn the company around. Hell, I've even seen a couple of new 9-5's.

Yeah, while waiting for the OH to pick me up after dropping the 9-3 in for the road test, I saw a new 9-5 go out & return after a demo drive. Looked lovely, much better than the pics.

[blearyeyedboy]

Looks like Saab stopped for a few hours but disputes with suppliers, distributors and other debtors might halt it again. The Wall Street Journal is fairly measured in its approach.

http://online.wsj.com/article/BT-CO-20110330-70736...

I loved Saabs and I'd be in the market for a new 9-3 when it emerges. (I've driven a current shape 9-3 and a Vectra, and the 9-3 is significantly nicer to live with.) But I'm not handing over my money if I'm worried the company will fold the week afterwards. I'll probably take my money elsewhere unless things stabilise. Who'd risk 25k on a company that might go bust next week?

Sadly thousands like me are likely to hold onto their money, meaning that things won't stabilise and Saab is likely to fold. I really want to be wrong.

[blearyeyedboy]

hora said:

But it also means that in the clearing smoke of the collapse 93/95's will be mega cheap before firming up slightly later on a la Rover.

Point taken, hora. I benefited from a similar kerfuffle surrounding the Cadillac BLS I bought. (Effectively a rebodied Saab 9-3, which was a proper bargain when I bought one.) But the 9-5 is too big for my needs and the 9-3 is getting dated now- good for its time, but rivals have moved on. I want a next shape Saab 9-3 and I'd feel sad if one never emerged.

(Edited for clarity- I might want a next shape Saab 9-3 if it's not a bag of bolts! I've no interest in buying rubbish just because of a Saab badge.)

Edited by blearyeyedboy on Thursday 31st March 01:28

Edited by blearyeyedboy on Thursday 31st March 01:30

[rovermorris999]

They're simply too small to survive as a major brand and the brand has been pretty much devalued for years now. In a few years, if it hasn't happened already, there'll be a few huge car companies with several brands each offering the same couple of platforms with different bodies and trims, and niche companies making a few thousand cars for 'enthusiasts'. Even the niche companies will use other people's drive trains. I doubt any other business model is viable in the long term.

[The Hypno-Toad]

jake15919 said:

How to run a business. (A guide for the modern tt.)

1 Run up bills and buy stock. Do not pay taxes etc.
2 Put company into bankruptcy/receivership.
3 Wipe out all debts.
4 Get rid of staff with no redundancy costs.
5 Buy back company assets for peanuts.
6 Rehire desperate former employees on a fraction of what you used to pay them.
7 Laugh your cock off.

Not that I'm suggesting for one minute that this is the case with Saab.

Not that I would like to suggest that they might be running it under this model either.

Running a car company the ROVER way.

1.) Claim to be able to turn around failing carmaker.
2.) Recieve huge amounts of EU/government money to help.
3.) Pay yourself a very tidy wage out of said funds making sure that your mates get nice big consultants fees.
4.) Promise the world with regard to new models.
5.) Facelift all the old ones.
6.) Make sure that you don't pay any taxes so that when it all goes wrong and the government want their money you can claim they are the bad guys & are trying to close you down.
7.) Go bust owing large sums to various suppliers who then go bust with you.
8.) Walk away, washing your hands, saying not my fault: Under investment by previous owners, changing market place, hidden debts, no help from government.
9.) Fly away somewhere sunny.
10.) Relax.

Not that's whats happening to Saab of course.

Did anyone else spot that the company in the UK who Spyker sold the sportscar arm of their company to is actually owned by one of the directors of Saab/Spyker...

[Fittster]

So that's the taxpayer ripped off as predicted. Saab should have been allowed to die.


You do have to wonder that goes on at the European Investment Bank