Over the weekend Spyker submitted a new proposal that addressed 11 of the issues that made the earlier discussions fail, ultimately leading to GM's announcement to kill Saab. It's new proposal had an expiration date of today at 5 pm ET, but Spyker has released a short press release stating that the offer has been extended until further notice.
GM has been in discussions with Spyker, but no details have been released.
Saab lovers there might still be hope...
Related Stories:
Saab May Not Be Dead Yet, Spyker Submits a New 11th-hour Proposal
PRESS RELEASE:
SPYKER CARS EXTENDS ITS OFFER FOR SAAB.
ZEEWOLDE, The Netherlands (21 December, 2009) - Spyker has been in contact with GM today, and continues to develop its proposal for the purchase of Saab. Spyker has extended the validity of its proposal therefore until further notice.
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Comments (6)
Let's see here...
GM can simply let Saab die out and spend lots of cash closing down the brand, or sell it to the only group that has clearly expressed interest in purchasing the company.
Hmmmmm. Such a tough decision....
SELL THE FREAKIN' BRAND YOU ASSHOLES! EVEN IF IT'S 10 MILLION BUCKS, IT'S BETTER THAN NOTHING!!!! QUIT JERKING OFF SPYKER, PLUS THE SAAB OWNER AND FAN BASE!!!
/rant
Posted by Trooper Bri | December 21, 2009 4:57 PM
Posted on December 21, 2009 16:57
Remember, it's not just what you get for the brand and/or what it costs to shut them down you're also talking about a competitor. The 9/3 and coming 9/5 are GM product and as such compete with other GM brands. So, it's not as cut and dried as you imaging.
Posted by FrankO | December 21, 2009 6:20 PM
Posted on December 21, 2009 18:20
Remember, it's not just what you get for the brand and/or what it costs to shut them down you're also talking about a competitor. The 9/3 and coming 9/5 are GM product and as such compete with other GM brands. So, it's not as cut and dried as you imagine.
Posted by FrankO | December 21, 2009 6:20 PM
Posted on December 21, 2009 18:20
Yeah, I think FrankO has a point, otherwise, why NOT sell the company for a small sum and just be done with it? I hope they ( GM ) make a final decision one way or the other soon as the suspense is killing me!
Posted by remyj | December 22, 2009 8:24 AM
Posted on December 22, 2009 08:24
The other major problem is that GM owns everything that goes into the 9-3 and 9-5. Saab doesn't have their own platforms or engines anymore. Its all global platforms and engines now. The only thing that is Saab only is the Haldex AWD system. So I am sure IP has something to do with it. Coupled with the fact that whoever GM sells the brand to, they will have to make vehicles/parts for them for a while before they can spin off GM's tech.
Posted by Avatar | December 22, 2009 8:39 AM
Posted on December 22, 2009 08:39
Yeah, I know Frank. I was in the business for a long time.
But honestly, this sounds like something some old fart trying to sell a boat or car would do. "If I can't get X amount for it, I'll just let it sit and rot forever!"
We're talking about a company that would be a memory right now if they hadn't come to Capitol Hill seeking a bailout. If there was a line at the door behind Spyker, I'd understand a little more. But that's not the case. GM is trying to sell 3 brands, and none have been completed yet (AFAIK, the Hummer deal is still floating).
Besides. GM bought plenty of competitors cars over the years, re-badged them, and sold them as their own. They helped Toyota to kick their own ass.
Saab was never a threat to any carmaker in the States, before or after GM bought them. People bought them for their unique European look and feel. Unless Spyker has some serious talent, I don't see that ever changing. Selling or tooling product to Spyker until they get on their feet is just a way to make more money out of the deal.
I do hope they sell Saab. Being neglected like a stray pet is no way to die.
Posted by Trooper Bri | December 22, 2009 3:56 PM
Posted on December 22, 2009 15:56