Goodbye to SAAB?!

**leopaul** · December 19th, 2009 04:06 PM

I found some bad news, I heard that General Motors will getting rid of the SAAB brand since Pontiac & Saturn. What will exactly happened to the new 9-5?!

Here's an article found at Carscoop:

Just moments ago, General Motors announced that it will be closing down its money-losing SAAB unit after concluding that the sale of the Swedish brand to tiny Dutch supercar maker, Spyker Cars, could not be completed in the time frame that had been set.

"Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time. In order to maintain operations, Saab needed a quick resolution. We regret that we were not able to complete this transaction with Spyker Cars," said GM Europe President Nick Reilly.

General Motors had turned to Spyker Cars after a failed effort to sell the Swedish brand to a consortium led by the Koenigsegg Group AB.

The Detroit automaker said that Saab will continue to honor warranties, while providing service and spare parts to current owners around the world.

"We will work closely with the Saab organization to wind down the business in an orderly and responsible manner," Reilly said. "This is not a bankruptcy or forced liquidation process. Consequently, we expect Saab to satisfy debts including supplier payments, and to wind down production and the distribution channel in an orderly manner while looking after our customers."

What GM did not say, is what's going to happen with the Swedish firm's upcoming models such as the all-new 9-5 sedan and the Cadillac SRX-based, 9-4x.

Earlier this week, the Detroit automaker revealed that it had come to an agreement with China's BAIC for the sale of the intellectual rights of the current-generation Saab 9-5 (not the 2010 model shown in Frankfurt) and certain 9-3 models.

Saab follows the same fate as several other GM-owned brands such as Pontiac and Saturn which were also axed.

**marg** · December 19th, 2009 07:08 PM

Its hard to survive these days with just a small customer base. R I P, Saab.

**ianmitsulancer** · December 19th, 2009 07:25 PM

yikes!!!

what will happen to current Saab owners? one of them happens to be my aunt in the US driving a 2001 Saab 9-3 Turbo. I do hope they can still provide support despite the shut down.

im quite sure resale values will drop big time. i feel sorry for this Swedish Meatball.

**jick.cejoco** · December 19th, 2009 07:41 PM

maybe saab is going back to what they do best; make aircraft

**renzo_d10** · December 19th, 2009 07:53 PM

Originally Posted by ianmitsulancer

yikes!!!

what will happen to current Saab owners? one of them happens to be my aunt in the US driving a 2001 Saab 9-3 Turbo. I do hope they can still provide support despite the shut down.

im quite sure resale values will drop big time. i feel sorry for this Swedish Meatball.

Yes they will.

The Detroit [COLOR=blue ! important][COLOR=blue ! important]automaker[/COLOR][/COLOR] said that Saab will continue to honor warranties, while providing service and spare parts to current owners around the world.

**eggman** · December 19th, 2009 08:03 PM

Spyker o BAIC ng China(owner ng Foton) ang buyers ng Saab..

Honestly its time to let this brand die or sell it to other companies..Look at Volvo..

**ianmitsulancer** · December 19th, 2009 08:08 PM

*renzo, thanks for the info...

*eggman, this reminds me of what the koreans did in the past when Hyundai bought Kia and are now more successful than anyone can imagine. what is different though this time is that Volvo isn't on its two feet like Hyundai which is self sufficient to this date.

Volvo could have saved Saab if it had the resources... haiz...

**weisshorn** · December 21st, 2009 11:49 AM

Originally Posted by ianmitsulancer

*renzo, thanks for the info...

*eggman, this reminds me of what the koreans did in the past when Hyundai bought Kia and are now more successful than anyone can imagine. what is different though this time is that Volvo isn't on its two feet like Hyundai which is self sufficient to this date.

Volvo could have saved Saab if it had the resources... haiz...

Yes, korek.. hyundai is self sufficient. Eh syempre naman napakalaki ng hyundai compared to volvo. Car manufacturing is only one in their long list.

**renzo_d10** · December 21st, 2009 11:57 AM

Originally Posted by ianmitsulancer

*renzo, thanks for the info...

No prob. sir ian.

But I have a feeling that Saab owners will start to panic upon hearing this news.

And ... they'll start to sell their vehicles at a bargain price

Kasi ... who would want to own a vehicle from a bankrupted company. Even if they say that they'll shoulder warranties and stuff, even me would get scared and sell the vehicle ASAP.