From GM...
General Motors announced today that the intended sale of Saab Automobile AB would not be concluded. After the withdrawal of Koenigsegg Group AB last month, GM had been in discussions with Spyker Cars about its interest in acquiring Saab. During the due diligence, certain issues arose that both parties believe could not be resolved. As a result, GM will start an orderly wind-down of Saab operations.
“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.”
Saab will continue to honor warranties, while providing service and spare parts to current Saab owners around the world.
As part of its efforts to become a leaner organization, GM began seeking a buyer for Saab’s operations in January. Last week, Saab Automobile AB announced that it had closed on the sale of certain Saab 9-3, current 9-5 and powertrain technology and tooling to Beijing Automotive Industry Holdings Co. Ltd. (BAIC). GM expects today’s announcement to have no impact on the earlier sale.
As the company continues to reinvent itself, GM has been faced with some very difficult but necessary business decisions. 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.
A media conference call with John Smith GM Vice President, Corporate Planning and Alliances will take place at 9:45 a.m. Eastern Time.
>>>For Sale? Clicky!<<<
-----The orginal Mr.Goodwrench on the JBO since 11/99-----
GM sure does suck a whole heap of ass.
[ o ][][][][][][][][ o ] coach built xj ( o \[][][][][][][]/ o ) hid wj
It's really too bad. Saab made some nice cars.
I loved their recent compact concept car.
They were pretty irrelevant in the marketplace anyway.
It's a shame to see all that tooling and expensive engineering go at what amounts to cents on the dollar. Chinese companies are getting a great deal on a lot of things.
Really a sad thing to see. I was really looking forward to see the new ownership of Saab.
Member of J-body of Michigan.
cant really blame GM , its more of our economy , and biggest is our failing government
it was our government that put the DEATH to pontiac not GM , government wants GREEN pontiac was a performance brand so the government axed um
^Actually GM was mumbling to do it for a while to end it, just like they did with Oldsmobile. The only difference GM used the crappy economy and bankrupcy slogan to execute their plan.
>>>For Sale? Clicky!<<<
-----The orginal Mr.Goodwrench on the JBO since 11/99-----
I am hugely disappointed in this decision. I can not believe nobody would want Saab...not even power hungry VW?
"Formerly known as Jammit - JBO member since 1998" JBOM | CSS.net
some how that isnt as believable
in either case , GM needs to fix themselves and quick , they are killing the best brands , and they need to go back old school and learn how to sell cars again , saturn was 1 of their best kept secrets(bad secret)
also 1 of the companies that has/had the ability to pull them out , since the trend to smaller green cars , though i consider a small car weighing under 2600lbs , and not weighing in at 33-3400lbs and powered by a 4 cyl motor , i could swap a LS motor into my 68 elco and weigh less than that and get better mileage and have all the power i need
And to think I eally liked the 9-7, err I mean envoy, err I mean trailblazer, errrrrrr I mean Rainier
It's hard to imagine that not one company in the whole world would think that there was enough in Saab to attempt to salvage it. Either GM was asking way more then Saab was worth or there's something wrong with it that scared away a lot of people.
NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
the only gm brand sedan i truly loved now!
Sucks that GM is killing off all their good brands and keeping all the crap. I would rather see Cadillac killed off than Saab.
"You can only feed them semen for so long before their legs fall off."
Senorguitar19 wrote:Sucks that GM is killing off all their good brands and keeping all the crap. I would rather see Cadillac killed off than Saab.
Please tell me you have mental issues.
Otherwise I'm not sure why you make such a statement...
You would rather have FWD quirky cars than RWD German/Japanese stomping cars??
RIP Saab.
M62, 42's, ZZP 3", ZZP S3 H/E
214whp 190wtq
deftonesfan817 wrote:Senorguitar19 wrote:Sucks that GM is killing off all their good brands and keeping all the crap. I would rather see Cadillac killed off than Saab.
Please tell me you have mental issues.
Otherwise I'm not sure why you make such a statement...
You would rather have FWD quirky cars than RWD German/Japanese stomping cars??
cadillac is by far and large the most profitable brand out there. They're still selling at decent numbers without big incentives.
DroptopPaul wrote:deftonesfan817 wrote:Senorguitar19 wrote:Sucks that GM is killing off all their good brands and keeping all the crap. I would rather see Cadillac killed off than Saab.
Please tell me you have mental issues.
Otherwise I'm not sure why you make such a statement...
You would rather have FWD quirky cars than RWD German/Japanese stomping cars??
cadillac is by far and large the most profitable brand out there. They're still selling at decent numbers without big incentives.
True, Cadillac makes huge money...i just hate them.
And are you saying that Saab is a quirky car and that cadillac is a german/japanese stomping car? Did you read what I wrote? Cadillacs are slow as hell. Sure theres the cts-v...but that car is utter junk.
"You can only feed them semen for so long before their legs fall off."
I'm pretty appalled at this announcement. All the technology SAAB has developed, and being one of the only unique car brands there was left, the gorgeous, brand new 9-5 will never be produced....
SAAB is so much more than quirky cars they used to be. Their cross-wheel drive system was really amazing for anyone who's never driven it.
I don't want to start ranting here, but I am very upset about this.
Zenith...All i have to say is that your sig is EPIC!
"You can only feed them semen for so long before their legs fall off."
Senorguitar19 wrote:DroptopPaul wrote:deftonesfan817 wrote:Senorguitar19 wrote:Sucks that GM is killing off all their good brands and keeping all the crap. I would rather see Cadillac killed off than Saab.
Please tell me you have mental issues.
Otherwise I'm not sure why you make such a statement...
You would rather have FWD quirky cars than RWD German/Japanese stomping cars??
cadillac is by far and large the most profitable brand out there. They're still selling at decent numbers without big incentives.
True, Cadillac makes huge money...i just hate them.
And are you saying that Saab is a quirky car and that cadillac is a german/japanese stomping car? Did you read what I wrote? Cadillacs are slow as hell. Sure theres the cts-v...but that car is utter junk.
Junk how exactly?
BTW the 3.6DI CTS does 60 in 6.2 seconds.
Not exactly what I'd call slow.
Zenith wrote:I'm pretty appalled at this announcement. All the technology SAAB has developed, and being one of the only unique car brands there was left, the gorgeous, brand new 9-5 will never be produced....
SAAB is so much more than quirky cars they used to be. Their cross-wheel drive system was really amazing for anyone who's never driven it.
I don't want to start ranting here, but I am very upset about this.
XWD was developed with Haldex also.
The system in the R8 is essentially the same, but uses a different name.
BTW GM would still own the right's to that and if IIRC the SRX uses it as well.
deftonesfan817 wrote:Zenith wrote:I'm pretty appalled at this announcement. All the technology SAAB has developed, and being one of the only unique car brands there was left, the gorgeous, brand new 9-5 will never be produced....
SAAB is so much more than quirky cars they used to be. Their cross-wheel drive system was really amazing for anyone who's never driven it.
I don't want to start ranting here, but I am very upset about this.
XWD was developed with Haldex also.
The system in the R8 is essentially the same, but uses a different name.
BTW GM would still own the right's to that and if IIRC the SRX uses it as well.
That's what I don't like. They develop the technology just to be shut down, yet GM still has the technology to use.
SAAB has always been overlooked and underrated and now they're gone.
