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GM Statement Regarding Saab Negotiations
Tuesday, 01 December 2009 15:13

DETROIT – The GM Board of Directors has received expressions of interest in Saab since the conclusion of negotiations with Koenigsegg Group AB. The Board will evaluate potential bids between now and the end of December. At that time, we will determine whether a suitable arrangement for Saab exists. If not, we will begin an orderly wind down of the global Saab business at that time.

Due to non-disclosure agreements, we will not confirm or comment on any potential transactions or other matters unless, and until, we determine that disclosure is appropriate.

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Koenigsegg Group Backs Out
Tuesday, 24 November 2009 12:56

News outlets are reporting that the deal between the Koenigsegg Group and GM for the purchase of Saab has fallen through "at the discretion of the buyer." Koenigsegg Group AB informed GM yesterday that it would not be completing the purchase of Saab.

In GM's official press release, GM President and CEO, Fritz Henderson, noted, "We’re obviously very disappointed with the decision to pull out of the Saab purchase. Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week."

Although some online sources speculate that the issue was Koenigsegg's inability to secure complete financing for the purchase, Augie Fabela, the chairman of Koenigsegg Group, told Reuters that this was not so.

 

Unfortunately, we have come to the conclusion that based on the delay of closing the transaction, in our judgment we no longer felt we were able to deliver our new Saab plan. The company has been managed very tightly for cash, and at a certain point you have to start running the company as a growth engine, and we just weren't able to get there in time. -- Augie Febela, Chairman of Koenigsegg Group, 2009-11-24

 

The Swedish government has noted that it will not step in and save the company, and that a private buyer is the only option right now.

Swade over at SaabsUnited has some quotes that aren't being mentioned elsewhere.

 
SOC2010 Details Announced!
Friday, 20 November 2009 01:14

Preliminary details on the 2010 Saab Owners' Convention to be held in Aurora, Ohio have been posted to the SOC homepage at www.saabconvention.com. Please head over and check out all the news!

 
Saab Wallpapers from Roy Chui
Wednesday, 18 November 2009 13:15

Happy HolidaysRoy Chui, a graphic artist who specializes in woodcut prints of classic cars, recently wrote to the Saab Club of North America to show us some of the vintage Saab computer wallpaper he has designed. No matter the size of your computer desktop, he probably has a size there for you. There are wallpapers for the Sonett, 92, 93, 95, 96, 90, 99, 900 and 9000. Check them out here, and then send an saying thanks for the great wallpaper!

 
2010 Saab 9-5 Makes US Debut
Thursday, 29 October 2009 19:35

New Saab 9-5 Sedan makes its US premiere at the Miami Auto Show

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The All-New Saab 9-5 Sedan, making its U.S. premiere at the South Florida International Auto Show in Miami, takes center stage on the Saab stand as the Swedish premium brand celebrates the start of new era.

  • Progressive Scandinavian design inspired by Aero X and Saab heritage
  • Engineered with the driver in focus for segment leading sporty driving experience
  • High levels of responsible performance, both environmental and safety
  • Most technically advanced Saab with an array of 'high-tech' features

Making its North American public debut at the South Florida International Auto Show in Miami, the all-new Saab 9-5 sedan signals the start of a new era for the Saab brand. Sleek, sophisticated and unmistakably Saab, it combines fashion-forward Svenska design with advanced technologies and will bring a fresh alternative choice to the premium sedan segment when sales start later in 2010.

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