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Poor old SAAB

pierre_pierre
Grafter
Posts: 19,757
Registered: 30-07-2007

Poor old SAAB

http://cars.uk.msn.com/news/articles.aspx?cp-documentid=160094424
Updated: 19/12/2011 18:53 | By motoringresearch.com
Saab owner files for bankruptcy
8 REPLIES
Community Veteran
Posts: 5,345
Thanks: 609
Registered: 23-09-2010

Re: Poor old SAAB

Haven't they been there before? On the brink that is.
http://www.bbc.co.uk/news/magazine-16252503
pierre_pierre
Grafter
Posts: 19,757
Registered: 30-07-2007

Re: Poor old SAAB

if you had read my link, that came from the BBC picture show you would have got this
Parent firm Swedish Automotive N.V. has made the filing for bankruptcy with the District Court in Vanersborg, Sweden this morning (Monday 19 December).
The firm said it does not expect to get back any value from its shares in Saab Automobile, and is thus completely writing off its interest in the car brand.
The development has come despite Chinese firm Youngman committing funds to the Swedish premium car brand. Former owner General Motors refused to approve these plans, though, arguing that the proposals involved the transfer of control “in a manner that would be detrimental to GM and its shareholders.”
Because of this, Youngman withdrew its offer of funding to continue and compete the reorganisation of Saab Automobile.
Community Veteran
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Registered: 01-08-2007

Re: Poor old SAAB

Weird stuff that, the swedes make the most reliable cars in the world and yet they struggle to stay afloat. I really don't understand how the companies that make cheap annoying cars stay in business so easily. Years ago people used to appreciate stuff that was reliable and lasted a good many years. Now everyone seems to want something they can dispose of as fast as possible.
I need a new signature... i'm bored of the old one!
Community Veteran
Posts: 5,345
Thanks: 609
Registered: 23-09-2010

Re: Poor old SAAB

Read it?
"Saab Bankruptcy: What Does It Really Mean?"
http://blogs.wsj.com/drivers-seat/2011/12/19/saab-bankruptcy-what-does-it-really-mean/
No link really gives any answer as to what will happen to the Saab brand or the car itself which is what the proverbial man in the street thinks when they hear of Saab bankruptcy.
"I really don't understand how the companies that make cheap annoying cars stay in business so easily."
It's the "cheap" bit that keeps them in business. Saab always struck me as overpriced with delusions of up market grandeur. I preferred their cars when they had a certain beetley style to them.
‎Reliability wise What Car seems to think differently not rating it highly at all (more like pretty low down). Mind you it can't be good working somewhere wondering if you will still have a job tomorrow.
Community Veteran
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Registered: 02-08-2007

Re: Poor old SAAB

Best car I ever had was a Volvo 144 GL. Built like a tank and designed to last.
I Think they were taken over by some other company.
Sad to hear about SAAB, never owned one but a mate of mine did and was well pleased with it.
pierre_pierre
Grafter
Posts: 19,757
Registered: 30-07-2007

Re: Poor old SAAB

Quote
When Volvo AB was introduced on the Swedish stock exchange in 1935, SKF sold most of the shares in the company. Volvo Cars was owned by AB Volvo until 1999, when it was acquired by the Ford Motor Company as part of its Premier Automotive Group. Geely Holding Group then acquired Volvo from Ford in 2010

Ford had a lot of goodies in the premier group
Jaguar
Aston Martin
Volvo
AC Cars
Community Veteran
Posts: 7,924
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Registered: 02-08-2007

Re: Poor old SAAB

Not sure which four letter words are banned on this forum but FORD should be one of them !
Community Veteran
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Registered: 21-03-2011

Re: Poor old SAAB

The trouble is that SAAB stopped making cars and turned to assembling kits from General Motors. One version of a tale I heard about GM (from a senior Honda exec) was that BMW managers visiting a GM plant saw car seats being delivered and happened to mention that their suppliers charged $300 to make a BMW car seat. The GM managers boasted that they were charged only $150 per seat. The BMW managers took a closer look at the GM car seats in front of them and declared "You are being robbed by your supplier!"
Now Zen, but a +Net residue.