Automotive News, Media & Press - Former GM Subsidary SAAB Files Bankruptcy - Remaining New Inventory Being Firesaled

http://www.blogcdn.com/www.autoblog.com/media/2011/12/saab-victor-muller-mics.jpg

Zeewolde, The Netherlands, 19 December 2011 – Swedish Automobile N.V. (Swan) announces that Saab Automobile AB (Saab Automobile), Saab Automobile Tools AB and Saab Powertrain AB filed for bankruptcy with the District Court in Vänersborg, Sweden this morning.

After having received the recent position of GM on the contemplated transaction with Saab Automobile, Chinese company Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded. The Board of Saab Automobile subsequently decided that the company without further funding will be insolvent and that filing bankruptcy is in the best interests of its creditors. It is expected that the Court will approve of the filing and appoint receivers for Saab Automobile very shortly.

Swan does not expect to realize any value from its shares in Saab Automobile and will write off its interest in Saab Automobile completely.

http://newsroom.saab.com/news/news/saabautomobilefilesforbankruptcy.5.33e35a55134420c 33657ffe39.html

Sad :( But expected..

Not really a big loss, they never had one model that I lusted after.

Only car company I might care less about would be Volvo

What? What about everything french? Everything italian(except Ferrari etc)? VW?
I realize that this is very subjective, but come on....they're not generic cars.

Cars like the 9-3 Viggen:
http://www.saabwagon.com/wp-content/uploads/2011/04/9-3-viggen-jet-namesake.jpg

The SAAB 900 Turbo:
http://fstatic1.mtb-news.de/img/photos/3/8/7/9/8/_/large/Saab900Turbo.jpeg

The SAAB 9-3 XWD:
http://www.carmagazine.co.uk/upload/8034/images/2SaabR34.jpg

etc..

I'm sorry, the 900 Turbo makes my eyes bleed.

Some people are saabing a bit over this, I'm sure.

I'm sorry, the 900 Turbo makes my eyes bleed.

Same here. I don't know why, but all Saab's looked freaking horrible to me.

Wait, Saab was still making cars?

I did like the 9-3 in its last incarnation.

The entire SAAB Museum collection is being sold off in the liquidation. So many classics and every concept car.

http://www.delphi.se/filearchive/5/5935/Bilder_pictures%20Saab%20Car%20Museum%202012-01-15.pdf

The last SAAB vehicles assembled, test vehicles and first runs and still at the plant are being crushed.

Saabs on way to crusher

http://cdn.media.autocar.co.uk//NonCar/18129922941.jpg

12 January 2012

Unconfirmed, but local, reports from Saab’s Trollhattan HQ say that up to 100 cars will be crushed over the next 48 hours as part of the receivership process.
All the cars that had been completed before Saab folded will be cubed, say the sources, including pre-production examples of the Saab 9-5 estate as well as the handful of the Mexican-built 9-4x SUV that found their way to Sweden.

Reports suggest that a single 2012 9-5 estate will be preserved for the Saab museum, whose future is also uncertain. The museum is currently closed, but moves are being made in Trollhattan to preserve it and its contents once the receivership process is over.

Enthusiast website Saabs United are also reporting that a new company has been formed in the UK for the distribution of Saab parts. It will be headed up former Saab UK managing director, Charles Toosey, according to the sources. It is said that there are 190,000 Saabs still on UK roads and that there are also 200 new Saab models still being held in the dealer network by the administrators.

http://www.autocar.co.uk/News/NewsArticle/AllCars/260906/

Many SAAB dealers are starting to liquidate their inventories. If you want a new SAAB or a unique Euro luxury/premium vehicle at a Chevy, Ford, Honda, Toyota price now is the time to act.

http://pictures.dealer.com/m/m2motorssaab/0926/c7f6143d4046387200db14d481ba702f.png

http://www.saabnortholmsted.com

http://www.crsaab.com/user_files/image/WebAds/CRS_95_Jan.jpg

http://www.crsaab.com/

http://pictures.dealer.com/t/troysaab/0446/ce9951fa4046387200db14d40a63bf75.png

http://www.saaboftroy.com/

http://www.saaboflakeside.com/

http://pictures.dealer.com/k/kengarffsaltlakecitysaab/1122/d46816d84046387200db14d4b7564996.jpg

http://www.kengarffsaab.com/new-inventory/index.htm

http://pictures.dealer.com/a/automobileinternationalsaab/1092/d2c363414046387200db14d405115ffb.jpg

http://www.rutlandsaab.com/new-inventory/index.htm

Shaw SAAB liquidiation, many dealer loaner cars in here

http://www.shawsaab.com/new-inventory/index.htm

Pricing heavily slashed.

http://www.tracybankssaab.com/new-inventory/index.htm

Joe Van Horn Chevrolet in WI has a bunch of 9-4X SUVs

http://www.vanhornchev.com/used-vehicles?make=Saab

Many dealers that were part of huge groups opted to register their Saab inventory and spread them out among as customer loaner cars or just sell them as used instead of liquidate. I'm guessing that's what happened here.

thats a shame, just when their cars were really looking nice and generally being good cars.

thats a shame, just when their cars were really looking nice and generally being good cars.

You can't touch anything like the 9-5 for the prices they are selling for now. If you need an awesome daily driver and you can afford new it is a buyer's market.

You can't touch anything like the 9-5 for the prices they are selling for now. If you need an awesome daily driver and you can afford new it is a buyer's market.

True, but I would be worried about parts availability for repairs down the road. Plus, I would suspect that there is pretty much no warranty on any of these cars either.

True, but I would be worried about parts availability for repairs down the road. Plus, I would suspect that there is pretty much no warranty on any of these cars either.

Parts will become harder to source for any unique car down the road, including ones we deal with here like LSX GTOs and G8s. But like the Holden sourced cars Saabs are pretty much all common GM parts throughout with the interior and exteriors being unique to them. There are as many enthusiast sites and independent parts distributors out there for Saab vehicles as there are for any other car with a big following.

As for warranty, the cars are sold as-is but they are new. I think that worry would be more valid if you were dealing with a car that was a few years old and had a lot of miles or was beat to Hell. Plus, consumers can purchase coverage though reputable companies for a few thousand dollars, USAA and Ally come to mind. Some dealers are even offering this on their Saab inventory now like Saab of Troy, Saab of Lakeside and Suburban Saab.

It isn't likely you will have a repair on a new car that would total anywhere near that amount of money a warranty costs to purchase, which is why so many big companies including GM are in the extended warranty business now. They like to send me letters in the mail offering coverage to 100k miles on my G8 for a few thousand dollars.

I have had numerous new cars in the past few years and the only one that needed real work after I bought it was my 2006 GTO due to a manufacturer defect in the struts. It was covered under warranty of course. That car cruised with no further issues for a few years and 25k miles after that until I sold it.

Good....SAAB is :thumbsdow

You can't touch anything like the 9-5 for the prices they are selling for now. If you need an awesome daily driver and you can afford new it is a buyer's market.

I agree. If I had the coin, I'd pick up a 9-4X in a second (AWD/4WD helps when commuting through Indiana winters).

Good....SAAB is :thumbsdow

Good? Considering thousands are losing their jobs now? :huh:

Don't turn it political or personal in nature. Somebody will hire the workers :D I'm just glad I don't have to look at those ugly cars being made/sold anymore.

Good to see an end to those heaps. Every GM dealer has a long line waiting for major service

If that drives down the price of the used 97x Aero market, I'd buy one after graduation. They're based off the Trailblazer SS and come with an LS2. I've driven them both and the Saab is a much nicer vehicle inside. Since it's essentially a Trailblazer parts wouldn't be an issue either. To diss them all would be a shame because these things are bad ass.

http://i265.photobucket.com/albums/ii207/gwapo23_2008/97x_aero_bg.jpg

If that drives down the price of the used 97x Aero market, I'd buy one after graduation. They're based off the Trailblazer SS and come with an LS2. I've driven them both and the Saab is a much nicer vehicle inside. Since it's essentially a Trailblazer parts wouldn't be an issue either. To diss them all would be a shame because these things are bad ass.


The Aeros are hard to find - I've been looking. They look damn nice, but the gas mileage scares me off. I'm still considering a 9-7X with the 5.3 though.

I'd definitely roll in a 5.3. Give it some stance, wheels, tint and exhaust then enjoy the cruise. I think Saab did a much better job on the interior, especially the dash, than Chevy.

Probably because the Saab is more upscale while the Chevy is more utilitarian. At least that's how it strikes me anyway.