Beijing Auto to start selling first model based on Saab platform in 4Q 2012
China-based Beijing Auto will begin selling its first vehicle model based on the former Saab 9-5 platform in the fourth quarter in 2012. The automobile is based on the old Saab 9-5... Read more
Saab bids are currently evaluated by bankruptcy administrators
The bids for Saab are currently being evaluated by its bankruptcy administrators. A decision will come before summer arrives. The administrators declined to reveal the identities of the... Read more
Final bids for Saab will be submitted until April 10
Companies that want to register their final bids for Saab have until April 10. So far, Chinese automaker Youngman is the lone company to publicly register its interest to buy the estate... Read more
Saab dealers rushing to reinvent themselves
The 900 dealerships of Saab throughout the world are working to reinvent themselves as they’re forced to do so due to the automaker’s bankruptcy. Tom Backes, the general manager at... Read more
Dealers press General Motors to honor Saab warranties beyond 2009
Saab Cars North America held a meeting Monday with around 25 dealers to discuss the creation of a parts distribution company and the disposal of approximately 2,200 new vehicles left in... Read more
Youngman Lotus Automobile has made a new bid for Saab
Sources told Swedish public radio that a new bid for Saab was made by Chinese group Zhejiang Youngman Lotus Automobile. According to the public broadcaster last Thursday, Youngman is... Read more
Saab dealers will meet at NADA convention, probably for the last time
Saab dealers will have a meeting on February 6 in Las Vegas at the National Automobile Dealers Association convention for what would probably be their last make meeting. Tim Colbeck, the... Read more
Group of U.S. dealers wants Saab placed into Chapter 11 bankruptcy protection
A group composed of 41 Saab U.S. dealers wants Saab Cars North America to be placed into Chapter 11 bankruptcy protection. The involuntary Chapter 11 petition is now pending in the U.S.... Read more
Sweden repays Saab loan granted by the European Investment Bank
Sweden is now the biggest creditor of Saab after the country’s Debt Office paid back a loan granted by the European Investment Bank (EIB) to the bankrupt company. The Debt Office was the... Read more
Saab is still attracting buyers despite its financial problems
Talks with several potential bidders on the sale of Saab are ongoing, according to its receivers. However, no formal bids have been made yet. Reuters cited a source who said that it’s... Read more
Turkey-based Brightwell Holdings will make bid for bankrupt Saab
Turkish private-equity firm Brightwell Holdings intends to bid for bankrupt Saab Automobile "very shortly", according to Zamier Ahmed, a board member at the group. Specifically, the firm... Read more
Youngman will submit a new bid for Saab next week, sources say
It’s likely that Chinese group Zhejiang Youngman Lotus Automobile will submit a new bid for Saab next week, according to sources. A Swedish court has declared Saab to be bankrupt after... Read more
Swedish Automobile’s board members quit over funding dispute with CEO
Board members of Saab’s parent, Swedish Automobile, had resigned due to funding disagreements. Resigned from Swan’s supervisory board are Hans Hugenholtz, Maurizio La Noce and Alex... Read more
Over 100 cars from the Saab Heritage Museum listed in bankruptcy sale
Delphi, a Sweden-based company, has announced the details for the liquidation of the over 100 cars in the Saab Heritage Museum. The deadline is on January 20 for attorneys to take bids on... Read more
Saab to crush 100 cars as part of receivership
Saab will crush up to 100 cars in the next 48 hours as part of its receivership process, according to unnamed sources privy to the company’s base in Sweden. The report added that the... Read more
Dealers urge Saab to meet demands or face liquidation
Saab's U.S. dealers threatened to file for a Chapter 7 involuntary bankruptcy petition against Saab Cars North America if the carmaker fails to make them preferential creditors. The... Read more
GM sold 2.55 million units in China amidst waning industry demand
General Motors Co. posted an 8.3% increase in sales in China in 2011 to 2.55 million units, pushed by high demand for its Buick and Chevrolet vehicles. The company’s venture with SAIC... Read more
Saab sees a murky future without GM support
The future is murky for bankrupt Saab, according to several industry analysts. Saab’s lawyers said that there are several potential buyers and they discussed the possibility that its... Read more
Youngman and Brightwell Holdings race to buy Saab
China Youngman and Turkey’s Brightwell Holdings have come out to be the main players in the race to acquire Saab Automobile, with Brightwell seen to have the edge. Youngman is currently... Read more
Dongfeng Motor plans to acquire remaining Saab assets in April 2012
China-owned Dongfeng Motor Corp. intends to purchase the remaining assets of Saab after the Swedish vehicle manufacturer is liquidated in April, according to a report by the Beijing... Read more
Mahindra interested in Saab
Mahindra & Mahindra Ltd. hasn’t met with Saab Automobile’s administrators yet about its intention to buy the company or at least some parts of it, according to two insiders. Mahindra,... Read more
Saab in discussions with Turkish government as possible investor
Saab and the Turkish government are in discussions as the bankrupt Swedish automaker seeks an investor to help it recover, German magazine auto motor und sport reported, citing sources... Read more
US dealerships face inventory problems as Saab suspends warranty coverage
Detroit-based Saab of Troy, the largest Saab dealership in the U.S., has around 60 Saab units as of last week and at least another 50 in his loaner fleet, according to Tony Malouf, the... Read more
Youngman bought the Saab Phoenix vehicle architecture
Youngman, the Chinese investor that had intended to invest in the Saab (which has since gone bankrupt), has bought Phoenix vehicle architecture -- the brand’s most valuable intellectual... Read more
Saab appointed an outside administrator to oversee its business in North America
An outside administrator was appointed by Saab to supervise its operations in North America and the possible wind-down or sale of the company if its parent operations are unable to emerge... Read more
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