Saab: 1946 - 2009
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The US-based manufacturer preferred to sell a number of assets to Chinese BAIC DESPITE Spyker's warning that it would stop negotiations in case this really happens. Unfortunately, the aforementioned scenario became reality leaving GM with only one option: kill Saab and its global operations. Money indeed talks...
“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,” said GM Europe President Nick Reilly.
“We regret that we were not able to complete this transaction with Spyker Cars. We will work closely with the Saab organization to wind down the business in an orderly and responsible manner. 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.”
We won't get into why General Motors preferred to discontinue the brand rather than fight to keep it alive. Rumors emerging just after the company sold Saab's assets to BAIC proved to be true, once again supporting the idea that the US-based manufacturer was planning to get rid of the Swedish unit from the very beginning. Still, we can't help but wonder what happened with the 27 bidders once interested in taking over Saab...
GM's reply? "The focus will remain on the four core brands – Buick, Cadillac, Chevrolet and GMC – and several regional brands, including Opel / Vauxhall in Europe. This will enable the company to devote more engineering and marketing resources to each brand and model."
It seems the road ends here for the company that started out in 1946 when Saab commenced work on the first running prototype known as Saab 92.001. Sad day for the Swedish guys...
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comments written so far
On 18 December 2009 at 17:50 UTC, silver_black_ss said:
I don't understand why the reborn ex-bankrupt GM still owns SAAB and don't let it as an independent company. That tells me that the Americans are interested to sell as much as possible from this company and don't have any interest in saving this company. I bet that SAAB would handle the crisis and get some profit pretty soon if the management would be let on the Swedish hands. Americans are the worst managers in crisis times and they simply don't know to build a good car.
On 18 December 2009 at 21:55 UTC, Marian said:
Typical GM ignorant and arrogant.In fact I do not believe GM wanted to sell Saab.They used the technology, design from Saab and Basta!There are at list 2 serious bidders( USA and Sweden) which were not allowed to compete.GM will pay the price for the arrogance in this business,unfortunately a good brand is put to sleep,people believe we are the bad guys .... and GM will do exactly what they did before.But who cares,there is CHINA,and BUICK.Used to be Chevy The Heart beat of America,Now is Buick the heart beat of China When we are going to have a General Tsao Hybrid?The SAAB is dead GOD SAVE THE SAAB!
On 18 December 2009 at 22:38 UTC, streetcarver said:
RIP Saab... You will be missed and more than GM when they fold next year!
On 19 December 2009 at 08:40 UTC, marian said:
Hello Guys I just found on my desk a piece of paper with the falowing:GM would not let a competitor have current Saab technology wich was world leading. Saab in hands of others was too much threat.Also what if new company werw to flourish? It would have shown that GM management abd bussines practices were/are a disgrace. Who would ever back them again with loans etc. Saab had to die for GM to save face." Seems right or not? My bnest regards.
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