40 responses so far ↓

• 1 cj // Nov 29, 2008 at 12:04 am

  According to di.se, FT says that GM are looking at a sale leaseback for some properties, including their headquarter in detroit, the office in trollhattan and a few other buildings.

  My guess is that noone would be intersted unless their where long term plans for saab and not just a sale / closing.

  cj

• 2 Nevitz // Nov 29, 2008 at 12:07 am

  TROLLHATTAN, THE NEW MO-TOWN

  STOCKHOLM, Sweden (AP) – In a stunning turn of events, Saab AB acquires 100% of General Motors. The little quirky name-plate once thought to be on the chopping block has, for a sum of $5.5 kazillion, turned the tide on the whip-cracking General. The American automobile industry may never be the same. We have been plagued with headlines of GM’s near demise for the past six months with the slumping global economy, but Bob Lutz was determined to find an alternative to filing for Bankruptcy. In a press release this morning, Saab’s newly appointed CEO Steven Wade, was said that talks were in place to begin immediate restructuring of the former GM, citing that the Chevrolet brand would be re-mapped into more appropriate market segments and would absorb GMC models, Saturn would stop masquerading its Opel products, Pontiac would stop bastardizing from Holden (Monero/Commodore models), HUMMER has been given (at no cost) to Chrysler’s JEEP division, and Cadillac would now be only available in the Asian sectors re-badged as various Daewoo vehicles. During the press release, a reporter asked what would come of the Buick label, to which Mr. Wade replied, “Buick… who?”. Another press release is anticipated to officially announce the award winning concepts, the Aero-X and the 9-X Air, to be launched into production, as well as new versions of the 9-5 Saloon and SportCombi. The latter to be in the former Cadillac-turned-Saab showroom floors by the first of January 2009.

• 3 ctm // Nov 29, 2008 at 12:11 am

  Hehe…

• 4 Etienne Saabhuy // Nov 29, 2008 at 12:42 am

  hahaha

• 5 Kroum // Nov 29, 2008 at 1:47 am

  Hahaha! Nevitz – gold!

• 6 zippy // Nov 29, 2008 at 1:59 am

  LOL @ Nevitz. If only…….

• 7 Dippen // Nov 29, 2008 at 2:16 am

  lol!:)

• 8 max // Nov 29, 2008 at 2:25 am

  More likely “Saab to be Closed” along with Saturn, Pontiac and Hummer…

• 9 zippy // Nov 29, 2008 at 2:58 am

  Always the optomist hey Max?

• 10 SaabKen // Nov 29, 2008 at 3:21 am

  LMAO, Nevitz. Nice work.

  That means many of us here get to be appointed (by Swade) to be the new Board of Directors

  Let the power struggles begin

• 11 Kroum // Nov 29, 2008 at 3:41 am

  Come to think of it, Ken – you always step on my toes! Let the power play begin!

• 12 max // Nov 29, 2008 at 3:52 am

  zippy, I have been an exclusive Saab dealer for 20 years next week….from my point of view I don’t see 21 any where on the horizon….the leaders in detroit don’t and have never given 2 s–ts about Saab….

• 13 Ubermich // Nov 29, 2008 at 7:04 am

  Max, does that mean you don’t see any possibility of anyone else purchasing Saab?

  What would happen, tax-wise, if GM were to literally split the company in two? Chevy, Saturn, Pontiac, Buick on one side, Cadillac, Saab, Hummer, GMC on the other? Or Saturn, Pontiac, Buick, Saab, Hummer on one side, Chevy, Caddy, GMC on the other? And what would happen if one of those two companies assumed ALL of the GM debt? And what, then, would happen if that company with all the debt went bankrupt?
  Has anything like that ever happened?

• 14 ctm // Nov 29, 2008 at 7:11 am

  You forgot everything else within GM: Opel, Holden, Daewoo, Isuzu, Autovaz…

• 15 wilfried // Nov 29, 2008 at 7:16 am

  Brilliantevitz.

• 16 zippy // Nov 29, 2008 at 7:25 am

  max

  Kind of agree with you that GM doesnt really give a s**t about Saab. If the genuinely did we’d have had a new 9-5 three years ago!

  I guess we will just have to wait and see what happens. You’ll see a grown man cry if Saab dies.

• 17 Edonis // Nov 29, 2008 at 7:26 am

  Haha, hillarious, Nevitz!

• 18 Tedjs // Nov 29, 2008 at 7:44 am

  It looks like it is a sale of Saab property. For now.

  http://www.autonews.com/article/20081128/COPY01/311289951/1193 or the ‘free’ version on CNBC is here at http://www.cnbc.com/id/27957732/for/cnbc/

  And it looks like some of the ‘Turkeys’ at GM are punching the clock for some overtime this weekend and not (literally) running over Wal-Mart employees – we should learn more about the real deal this Tuesday: http://www.cnbc.com/id/27954950

  Hopefully they don’t get sent home without some official ‘bail out’ gift cards in their holiday stocking – but you really have to wonder if it is too little, to late for the boys at camp GM.

• 19 Brooks B // Nov 29, 2008 at 7:59 am

  In my ideal world GM would see that what they have been doing is failing and would pour money into Saab because that is something that they have not tried. Oh, and keep the Oz stuff happening. Pontiac is interesting only due to that.

  Otherwise, sell Chevys in the heartland and Buicks in China. As far as Hummer… maybe they can export them to third world despots or something.

• 20 SaabKen // Nov 29, 2008 at 8:12 am

  Brooks (et al),

  This bit below from LeftLane News yesterday is about as close as what I would do if I were GM. And if it all comes down to such drastic measures, I’d much rather see SAAB sold to someone else (but not an Asian company) than see it die:

  http://www.leftlanenews.com/gm-considers-axing-saab-saturn-pontiac-as-part-of-bailout-proposal.html

  “Hummer has been up for sale since June, and we wouldn’t be surprised to see GM sell it for less than it’s worth in order to quickly raise cash.

  But the possible sale or closure of Saab, Saturn, and Pontiac could come as a shock to many in the industry. Saab would almost certainly be sold off, while Saturn or Pontiac are more likely be shuttered.
  
  The demise of Pontiac would be particularly unfortunate, considering the brand’s storied history over 82 years. Saturn, on the other hand, has only been making cars for 18 years, so its closure would come more naturally. Whether popular vehicles like the Pontiac G6 and Saturn Sky would be rebranded as Chevrolet models remains to be seen. A recent report indicates plans for a next-generation Pontiac G8 and Solstice were recently shelved.

  We’re surprised to hear GM isn’t considering shedding Buick, which in many ways overlaps with Cadillac. Moreover, some observers have suggested GM could sell Buick to China’s SAIC — a possible win-win for everyone involved. That said, it doesn’t look like this option is currently on the table.”

• 21 mike c // Nov 29, 2008 at 11:44 am

  @ max: Here in Westchester County NewYork, One of the last stand alone Saab dealers,
  Roberi Saab will close its doors today… (robertisaab.com) He started selling used Saabs out of his driveway. Opened up a Saab cpo dealership and through the years expanded and did well. Employed many Saab Tech’s and has a hell of a set up. He explains that when GM stopped the leasing they cut out 70% of his new car business. With the down turn in credit approval’s, the cpo thing was way off (like everyone else…) You are correct when you say GM never cared about Saab. I truly think they will close Saab. They just don’t have the market share. The other Saab dealer that I used to deal with has closed and the entire Staff moved to a state of the art new building, selling (take a guess) BMW… How can Saab truly make it? I would hate to go to BMW, I keep asking myself: One more dealer left in my area and they have loaded them up with Hummers, if they close, where will I go for service? You can’t let just any one work on a Saab as we all know. What really stinks: SAAB, YOU MAKE A GREAT CAR AND AN ASS KICKING CONVERTIBLE. GM CAN’T YOU SEE THAT? GM YOU ARE FORCING ME TO GO TO AUDI/ BMW. HOW SAD IS THAT.

• 22 2-don // Nov 29, 2008 at 1:15 pm

  Those really are the only other options for me too. It will more than likely be Audi though. I really don’t want to be that guy in a bmw! I’d much rather be that guy in a SAAB!

• 23 Kroum // Nov 29, 2008 at 2:20 pm

  Sadly, Audi is the only sensible option should Saab fold.

  I do however, hope we never get to this point.

• 24 SaabKen // Nov 29, 2008 at 3:06 pm

  I would also be an Audi guy (new cars only) if SAAB ceases to exist altogether.

• 25 ctm // Nov 29, 2008 at 7:09 pm

  I can’t sit in an Audi seat for more than 30 minutes at the time, so definitely not an option for me. Also, I don’t want to be seen in one here in Sweden.

• 26 TTAero // Nov 29, 2008 at 9:08 pm

  If saab folds…I’ll just buy myself a tranportation, and why not a japs? As long as it’s safe, and as it looks, Toyota has the safest cars in sweden right now….

  An audi feels right, but as ctm says, the seats are terreble. A passat is nice, but way to low on our roads here in sweden and i’ll rather beeing shot than be seen in a bimmer. By the way, no VW is good because the blue instruments, it take all your ability away to see in the dark!

  A merc has to flat seat and have had to much problems lately considering the price tags.

  Opels and volvos may have good viechels, but in my mind they are just so boring, and even if they were fun stuff, my mind still tells me that this brands are boring. I’ve grown up with boring opels and volvos and that is hard to compet with….

  So whats left than just get my self a good, every day transportation and just stop taking the long way home?…and that should be good for the evironment? Right?

• 27 MarkoA // Nov 29, 2008 at 9:42 pm

  TTAero, you are left with S*ba**, Legacy / Outback. You won´t be disappointed. Safe, good hadling, high quality, decent looks, quite rare still in Europe, excellent Diesel engine (your “Green” choise).

  You´ll loose some refinement (interior materials) and comfort (seats, lack of nightpanel etc.).

  But it´ll offer b€st bang for buck today, IMO.

• 28 ctm // Nov 29, 2008 at 9:57 pm

  So, maybe Toyota should by Saab? Looking at the lineup here in Sweden, they are focused on smaller lifestyle cars and trucks/SUVs. Corolla and Avensis compete somewhat with Saab, but I don’t think they appeal to the Saab buyers at all. Lexus is nothing in Sweden. They only sell about 1,000 cars per year, even less than Chrysler and far less than Mercedes. So Saab may slot in well as a “premium” car. Also, I don’t think Lexus is a brand people associate with right-sizing, environmentally friendly, and so on. I think they came in on the wrong foot and have some trouble with the image. They are just an Asian Cadillac.

• 29 Etienne Saabhuy // Nov 29, 2008 at 9:58 pm

  If GM sell Saab swedish plant in Sweden to another manufacturer, but keep the Saab brand name and badged cars made at Opel Chevy/Daewoo plants in germany or elsewhere…
  Did you prefer still buy a car made in Trollhättan cars, even if it’s Toyota or something..or did you still prefer buy a “Saab” just badged like that ?

• 30 Johnny // Nov 29, 2008 at 10:14 pm

  A really interesting interview with Jan-Åke Jonsson is published today on Dagens Industri site.

  Some excerpts (sorry for the quick and rough translation):

  [About delays and cancellations of new models:]
  “Our only change is that we have pushed 9-4X from 2009 to 2010. We have been successful in these discussions within GM”

  [About the decreasing sales volumes:]
  “We knew 2008 and 2009 was going to be difficult, because we are just about to launch new models. We already expected decreasing volumes and took measures last year to adjust the production.”

  [About sales volumes in the USA dropping by 30%:]
  “We have made a decision not to chase volumes at any cost. Instead we have raised the prices by 11 % between 2008 and 2009, we’ve added more standard equipment which is good for the margins, we’ve moved away from some sales networks [not really sure how to translate that one.. /J] and our US operations have actually gone from a negative contribution to a positive segment contribution [not sure about what JAJ means here /J] despite a sales drop by 8,500 cars.”

  This year Saab will sell just short of 100,000 cars, and next year it will be even less. But JAJ confirms that two new models will be launched during 2009: an all new 9-5 “to be launched second half of 2009″, and the 9-3X.
  “I think it [9-3X] has a much greater potential than we have imagined. It is a vehicle that is more passenger car-like than a cross-over. That segment has a potential to grow more than expected.”

  Whether the plans for a 9-1 is cancelled:
  “No. We have a need for a small car and we have lots of different ideas. If we work together within GM it could be engineered really quickly. But GM needs to get a clear view of the future finances, whether there will be financial support from the government. For now, the 9-5, 9-4X and the new 9-3 are prioritised.

  DI: sounds like the decision about a future Saab small car is way ahead?
  “I don’t think so.”

• 31 Bernard // Nov 29, 2008 at 11:07 pm

  Forget this Audi or Subaru stuff. If GM were to announce that they are closing-down Saab, I would go to my local dealership, get myself a 9-5, and have a car that will last me 20 years easilly, and 40 years if I build-up a cache of spares.
  I don’t plan on getting a new car for quite a few years (my 9-3 hatch is doing just fine for now), but I definitely would if this was my last chance to get a new Saab.

• 32 eggsngrits // Nov 29, 2008 at 11:40 pm

  My money is still on GM keeping Saab and Pontiac. Saturn is really the most expendable of the domestic brands simply because the dealer network is much smaller. The Saturn/Opel automobiles could easily be sold as Pontiacs if that’s what it takes.

  Sale/lease back make perfect sense to raise cash. Out right sale makes even more sense, and it will get there….

• 33 max // Nov 30, 2008 at 12:21 am

  mikec
  Try country Saab in Florida NY. Relatively new dealer, a real good guy that you can trust. Roberti did a good job, but in the Saab world they moved up too fast. Almost every new Saab dealer who built these new “RED” (retail enviroment design, I believe Roberti built one) buildings have had troubles. Way too much overhead for a brand with no new products since forever in car world terms. Then the dealer council (Roberti was on it) pushed to close Saab National HQ in Atlanta and consolidate to Detroit….I knew that was the beginning of the end…. I have had at least 3 reps from GM per year since. Sometimes they would change and not even tell us. We were literally the “fruit fly” buzzing around GM’s head and occasionally we would get a swat at us to keep us away. The guys they put in charge of Saab in the US were nice guys but had no “horsepower”. They couldn’t order a roll of toilet paper for the public restroom, without asking…… GM is the worst communicator that one could imagine. They called us their business partners but every time something changed or happened we could only find out via rumors in the press or sometimes even on this blog. (I’m not kidding) I may not the sharpest tool in the shed but I know if I had “partners” they would know what was going on in “our business”. Programs would change and we would find out days later…..Our costs of dealing with GM have just kept escalating. They kept promising different things and then never follow through. I could go on for hours…..
  Unfortunately I think our Saab world is doomed. The main cause will be GM’s greed and lack of future planning. They have starved Saab, taken all good items and gave them to other GM sacred cows. They thought in their arrogant ways that nobody saw what they were doing and that in their arrogant ways the could do what they wanted…and they have but now the vulture is home and circling GM and Saab’s carcass. I only hope that if the end comes for Saab at GM’s arrogant hand that those who are responsible for the demise of Saab and GM in general go down with it….Wagoner, LaNeve, Lutz..etc. They deserve the first blow of the machete.

• 34 mike c // Nov 30, 2008 at 4:43 am

  @ max: Thank you for taking the time to answer my question. Informative and to the point. Unfortunately still sad though. The good guy’s always get screwed.

• 35 ctm // Nov 30, 2008 at 8:15 am

  If GM sell Saab swedish plant in Sweden to another manufacturer, but keep the Saab brand name and badged cars made at Opel Chevy/Daewoo plants in germany or elsewhere…
  Did you prefer still buy a car made in Trollhättan cars, even if it’s Toyota or something..or did you still prefer buy a “Saab” just badged like that ?

  As a Swede, I would not buy something called Saab just because it’s “Made in Sweden.” If Saab were sold to some Chinese outfit, I would be very skeptic to buy a new model from them and probably go for something else. If a company like Toyota would buy Saab, then I would be more interested.

  Every morning now when I wake up, I walk to my Mac, wake it from sleep, and reload the TS page hoping not to find the bad news… I wonder if I’m all normal…

• 36 Etienne Saabhuy // Nov 30, 2008 at 8:19 am

  Every morning now when I wake up, I walk to my Mac, wake it from sleep, and reload the TS page hoping not to find the bad news… I wonder if I’m all normal…

  don’t worry ..i do the same..with my PC

• 37 swade // Nov 30, 2008 at 8:28 am

  Funny,

  Every morning I wake up and wonder if ctm’s sent me anything big during the night translated from the Swedish news. It happened this morning

• 38 ctm // Nov 30, 2008 at 8:49 am

  Swade, I’m pretty sure you will beat me to the news – good or bad.

• 39 wilfried // Nov 30, 2008 at 9:01 am

  I must admit checking the TS and other sites more than regularly became a habit last days/hours, just curious to get to know THE news.

• 40 Tompa // Nov 30, 2008 at 10:05 pm

  Nevitz.. Great stuff