Saab is dead. No, wait Saab is saved! Oops, sorry the deal dell through – but another one is in the works! That constant back-and-forth has been a real automotive soap opera over the past few years. While we all watched the situation from afar off, we’re sure the experience wasn’t an enjoyable one for [...]
A few days ago we reported news about Saab’s warranty coverage being stopped. When you a buy a product from a company that is having major financial issues like Saab has been having, you run the risk of losing warranty coverage. Saab buyers who purchased under Spyker ownership are finding that to be the case [...]
Hats off to Saab Chief Executive Victor Mueller and Company – they tried their best. After months and months on end of back-and-forth drama, the Saab story is over. The company filed for bankruptcy protection yesterday, after a deal between Saab and Chinese automaker Youngman Automotive was scuttled by General Motors due to concerns over [...]
Last we heard from Saab, it had received $60 million in funding from North Street Capital. North Street is a private investment firm based in the United States, and has already made plans to purchase Spyker. Saab secured a loan with North Street because it hadn’t received full payment of the bridge money that was [...]
The endless Saab story continues. Just when we think the end is near, something happens and Saab is rescued. Then we think their future just might be secured and everything falls through. It truly is a drama if we’ve ever seen one. The latest twist in this story comes today with an announcement of new [...]
The other day we reported on news that Saab was on its last leg. After being overseen by a judge in the Swedish equivalent of bankruptcy (called “voluntary reorganization”), word was that Chinese investment partner Pang Da was no longer interested. Much-needed bridge money was being withheld. The Chinese were said to be no longer [...]
After a long, bumpy road to get where it is now, Autocar reports the end for Saab could happen as soon as today. The quirky Swedish automaker has been through a lot in its history, and its management has shown a remarkable determination to survive. This summer brought on again/off again deals with Chinese companies, [...]
Saab’s problems are truly endless. You know the story by now: countless near-death experiences, only for management to pull another trick out of their hat to save the company. The latest event in this made-for-TV drama unfolded when Saab filed for restructuring last month. Similar to our bankruptcy, Swedish law allows for companies to voluntarily [...]