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December 3, 2013

Saab Restarts Production of the 2014 9-3 Sedan in Sweden

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It's been over two years since the last Saab rolled off the line at its plant in Trollhattan, Sweden, but yesterday production of the Saab 9-3 sedan restarted. Saab's new owner Na National Electric Vehicle Sweden officially started series production of the 9-3 sedan.

Continue reading "Saab Restarts Production of the 2014 9-3 Sedan in Sweden" »

December 20, 2011

Saab Cancels Warranties, New Saabs to be Sold "As-Is"

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Yesterday Saab officially filed for bankruptcy, officially ending a two year struggle for the brand to stay alive after GM announced it was killing the brand. Now that Saab is officially being liquidated more details are coming out about what current Saab owners can expect for the future of their beloved Saabs.

According to Saab North America spokeswoman Michele Tinson, warranties have "been indefinitely suspended for new sales and claims stopped for current" warranties. This means that any Saabs still on dealer lots will be sold as-is and current owners will see their warranties voided.

Although Saab officially filed for bankruptcy yesterday, Saab CEO Victor Muller hasn't given up hope that a new buyer will be found. "Even if this may look like the end, it doesn't necessarily have to be. It could be a new beginning and Saab could rise from the ashes like a phoenix," he said.

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December 19, 2011

Saab Officially Files for Bankruptcy, The End is Here

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It's being reported this morning that Saab has officially filed for bankruptcy protection in a Swedish district court. Saab's bankruptcy comes two years after GM announced that it was going to wind down the brand as part of its reorganization.

The past two years have been filed with non-stop ups and downs for Saab, but after many failed funding attempts it looks like the end is finally here. Saab production has been stalled since earlier this year when the automaker ran out of money to pay its creditors. Investment attempts from Chinese companies Pang Da and Youngman gave us hope that Saab would survive, but vetos from GM prevented any of those deals from ever happening.

After 64 years it's time to say goodbye to Saab.

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September 8, 2011

Is it the End of the Line for Saab?

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Yesterday Saab filed an application for protection from its creditors, but this morning that application has been rejected by the Swedish court. Saab's application was meant for protection from its creditors, which would prevent the automaker from being pushed into bankruptcy.

If the plan government protection had been approved, Saab would have undergone a voluntary reorganization, but now that the court has denied the request, what's next? Saab plans to appeal the court's decision, but the court does not believe that a reorganization will work for Saab.

Currently Saab's workforce has not received their August wages and production remains at a standstill. This latest ruling by the Swedish government could lead to Saab's creditors forcing the automaker into bankruptcy.

Saab currently owes its suppliers $210 million.

Continue reading "Is it the End of the Line for Saab?" »

August 10, 2011

Saab May Drop the 9-3 Name from its Successor

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The next-generation Saab 9-3 is scheduled to debut in the first quarter of 2013, but there may be one big change. The replacement for the 9-3 may get a new name.

"There's a chance we might move away from that," said Tim Colbeck, president of Saab Cars North America.

The name for the 9-3's replacement may draw from the brand's heritage, although no final decisions have been made. Colbeck did state that the next model will be an "edgy" reinterpretation of Saab's past designs.

Saab has also reportedly restarted plans to build a modern day version of the Saab 9-2 that was produced in the 1940s and 1950s. Plans for the 9-2 were restarted after Saab received its latest round of funding.

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July 6, 2011

2011 Saab 9-4X Earns IIHS Top Safety Pick

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The 2011 Saab 9-4X crossover is now the latest model to earn the IIHS Top Safety Pick award.

The 2011 Saab 9-4X was rated as good, the highest rating possible in front, side and rollover safety tests. The 9-4X also received a good rating in protection in rear-end crashes.

It's not that surprising that the Saab 9-4X has received the Insurance Institute for Highway Safety's Top Safety Pick award since the Saab's structural twin, the Cadillac SRX also received the same award.

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July 4, 2011

Saab Announces New 9-1, 9-6X and 9-7 Models

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Even though Saab has had a lot of financial troubles the past few months, which have severely effected production, Saab has announced plans for three new models. Saab has finalized its deals with China's Youngman and Pang Da, which will help it produce the new models.

Saab's new models in addition to the next 9-3, will be the Saab 9-1, Saab 9-6X and Saab 9-7. The Saab 9-1 will be a new entry level Saab, which may have been previewed by the 9-X Air BioHybrid Concept. The Saab 9-6X will be a new larger crossover that will go head to head with models like BMW's X5. Lastly the Saab 9-7 will be a new flagship sedan.

The new models will be based on Saab's Phoenix platform and will be built in China by Youngman.

Continue reading "Saab Announces New 9-1, 9-6X and 9-7 Models" »

June 8, 2011

Saab Production Stops Again due to Parts Shortage

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It looks like Saab is still having issues. Production resumed at the end of May after a six-week shutdown, but today production has stopped again. Saab spokeswoman Gunilla Gustavs told Automotive News Europe that production "ran for a short period this morning, but it stopped and will remain stopped for the rest of the day.''

According to Gustavs, a disruption in the flow of materials is to blame for the latest production issues.

Spyker CEO Victor Muller stated, "Many suppliers did not make parts during the shutdown, some for almost two months. If you run out of parts it can impact production."

Gustavs did not know when production will resume.

Continue reading "Saab Production Stops Again due to Parts Shortage" »

May 27, 2011

Saab to Restart Production After Six-Weeks Off

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It's been six weeks since Saab was forced to stop production of the 9-3 and 9-5 models in Sweden due to a lack of money to pay its suppliers. Now that Saab has signed a new deal with China's Pangda Automobile Trade Co., production can restart.

Today is officially the first day of production since April 6th and Saab hopes to build around 100 cars a day.

Watching the first car roll off the line, Victor Muller said: "This is a great day for our company and it is great to see the plant running again. We have gone through a rough patch in recent weeks, but Saab is back in action again. I would like to express my deep gratitude to our fantastic suppliers who have worked so hard with us to make this happen, and to our loyal employees who have constantly stood by our side."

"We will work hard in the coming period to regain confidence and show our ability to become a successful car maker. We are fortunate that we are in the middle of the largest-ever product offensive in the company´s history. Last year we launched the all-new Saab 9-5 Sedan, while the 9-3 Griffin range went on sale earlier this year. The new Saab 9-4X, our first crossover, has enjoyed raving reviews from motoring media and we already sold all 9-4X cars for model year 2011. After the summer, we start delivering the much-awaited Saab 9-5 SportCombi to customers."

May 22, 2011

Despite Saab's Troubles Back Home the 9-4X is Still being Produced

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Saab's financial troubles have stopped production in Trollhattan, Sweden, for the past six weeks, but there is still one place where a Saab is being produced. GM is still under contract to build Saab's crossover, the 9-4X, which shares its platform with the Cadillac SRX. Because of this, the Saab 9-4X is the only Saab that is currently being produced, in Ramos Arizpe, Mexico.

A Saab spokesperson stated that production of the 2012 Saab 9-4X recently kicked off at the GM plant in Mexico, despite Saab's financial problems that led suppliers to stop parts deliveries to Saab's plant in Sweden.

The 2012 9-4X starts at $33,380 and will be in showrooms sometime next month. The base 9-4X is powered by a GM sourced 265-hp 3.0L V6, while the top model is powered by a 300-hp turbocharged 2.8L V6 that was recently suspended from the Cadillac SRX and starts at $48,010.

Continue reading "Despite Saab's Troubles Back Home the 9-4X is Still being Produced" »

May 16, 2011

Spyker Reaches Deal with China's Pandga to Save Saab

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Just a few days after a proposed deal between Spyker (Saab's owner) and China's Hawtai Motor Group fell apart, Spyker has announced a new deal with China's Pangda Automobile Trade Co. Ltd. The new deal is worth as much as 100 million euros.

Under the new deal, Saab will reportedly receive 30 million euros from Pangda for vehicles destined for sale in China, which will help Saab pay its suppliers and restart production. Saab's Trollhatten plant has been idle for almost six weeks.

"This is a good first step if it can lead to Saab talking to its suppliers about paying its bills," said Svenake Berglie, chief executive of the suppliers organisation, FKG.

Although Spyker has managed to find a new deal to hopefully save Saab, the deal could face the same problems as the earlier deal with Hawtai. Since Pandga is a distributor and not a manufacturer like Hawtai, hopefully there will be less hurdles to overcome.

Continue reading "Spyker Reaches Deal with China's Pandga to Save Saab" »

May 12, 2011

Saab Deal with Hawtai Motors Falls Apart

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Last week Saab announced a new partnership with China's Hawtai Motor Group Company Limited. The deal included a 29.9 stake in Saab for 150 million euros ($216 million), but it looks like that deal has collapsed. It's being reported that Hawtai was unable to obtain the stakeholder support that it needed, which is means that the deal is off.

Saab and Hawtai are still trying to work on a deal, but Saab is also now talking to other potential partners.

Continue reading "Saab Deal with Hawtai Motors Falls Apart" »

May 3, 2011

Saab Saved Again...Sells 30 Percent Stake to China's Hawtai

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It looks like Saab has been saved yet again. Saab has sold up to a maximum of a 29.9 percent equity stake to Chinese automaker Hawtai Motor Group Company Limited. The deal includes a €120 million subscription deal for 24.6 million shares of Saab, as well as a €30 million convertible loan. Of course the deal needs the final approval from the Chinese governmental agencies, the European Investment Bank and the Swedish National Debt Office.

Victor Muller, CEO of Spyker and Chairman of Saab Automobile, said: "The partnership with Hawtai allows Saab Automobile on the one hand to continue executing its business plan since we secured the required mid-term financing subject to meeting certain conditions, whilst on the other hand it allows Saab Automobile to enter the Chinese car market and establish a technology partnership with a strong Chinese manufacturer."

So who is Hawtai? Hawtai is a China-based automaker that was founded 10 years ago. Hawtai currently produces 350,000 vehicles, 300,000 clean diesel engines and 450,000 automatic transmissions. By 2015, Hawtai aims to have raised this capacity to 1 million vehicles, 1 million engines and 1 million automatic transmissions.

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April 14, 2011

Saab Wants to Use the Mini Platform for the Saab 9-1

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According to sources Saab is currently trying to bid to buy the rights to the outgoing Mini platform. Saab is trying to secure the rights to a small car platform that it can use to compete in the premium compact segment.

Saab has already secured a deal to buy Mini's 1.6L turbocharged engine, but now Saab bosses want the old Mini platform. BMW is set to begin phasing out the current Mini platform at the end of 2012 when an all-new Mini, codenamed F56, launches. The next Mini is said to use a new front-wheel-drive platform that is being developed by BMW. The new platform will be the basis for the next Mini and a new small BMW that will go head to head with the Audi A1.

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March 29, 2011

Saab Confirms Next-Gen Saab 9-3 Will Launch in Fall 2012

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The 9-3 is currently the oldest model in Saab's lineup, but a new one is on the way. According to a blog post from Saab's recently resigned CEO, the next 9-3 will launch on or before October 2012.
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Saab showed off the phoeniX concept in Geneva earlier this month, which the 9-3 is supposedly based off of. The phoeniX concept was powered by a 1.6L turbocharged engine with 200 horsepower. It was mated to a 34 horsepower electric motor and an all-wheel-drive system.

Before the new 9-3 hits dealers, the 9-4X crossover will go on sale, in May.

Continue reading "Saab Confirms Next-Gen Saab 9-3 Will Launch in Fall 2012" »

March 1, 2011

Geneva 11': Saab PhoeniX Concept Previews the Future of Saab

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Saab is celebrating its first year since its departure from under the umbrella of GM. It even released the special edition Independence Edition 9-3 Convertible to celebrate the past year. Saab has also just unveiled the new PhoeniX concept in Geneva, which is supposed to preview of what we can expect from future Saab models.

The PhoeniX concept is based on the next-generation 9-3 and introduces a new "aeromotional design" theme, which Saab describes as a visual evocation of the aerodynamic design principles and passion for innovation that inspired the creators of Saab's first car, the iconic Ursaab. The sleek exterior has a low drag co-efficient of 0.25.

Butterfly doors provide access to a 2+2 seating arrangement. Under the hood the PhoeniX concept is powered by a 1.6L turbocharged engine mated to an electric motor. The 1.6L puts out 200 horsepower and features start/stop technology, while the electric motor puts out an additional 34 horsepower. The hybrid system is mated to Saab's all-wheel-drive system and a six-speed manual transmission.

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February 24, 2011

Geneva 11' Preview: 2012 Saab 9-5 SportCombi is a Stylish Wagon

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Saab has released more photos of the 9-5 SportCombi ahead of its debut in Geneva next week.

The 9-5 SportCombi is pretty much the same as the 9-5 sedan with a more versatile rear. This means it will likely have the same four and six-cylinder turbo engines. Saab's XWD all-wheel-drive system will also be available. Sales are expected to kick off later this year.

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Saab 9-3 Convertible Independence Edition Celebrates Saab's 1st Anniversary of Leaving GM

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Saab has a refreshed 9-3 for the 2012 model year that will be unveiled next week in Geneva. In addition to the new 9-3, Saab has also announced the limited edition Saab 9-3 Convertible Independence Edition.

The Saab 9-3 Convertible Independence Edition celebrates the first anniversary of Saab's independence from GM and the 25th anniversary of Saab's first convertible. The limited edition convertible is based on the Aero trim model and is only available with the 180-hp 1.9L turbo diesel mated to a six-speed automatic transmission. It's further distinguished on the outside by an amber orange metallic paint and five-spoke 18-inch wheels. Inside there are parchment sport leather seats, a carbon fiber look leather finish on the instrument panel and an orange stitched leather steering wheel.

Only 366 units will be produced.

Continue reading "Saab 9-3 Convertible Independence Edition Celebrates Saab's 1st Anniversary of Leaving GM" »

February 23, 2011

2012 Saab 9-3 Gets a Facelift

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Saab is giving the 9-3 a facelift for the 2012 model year and here are the first two official photos of the new 9-3.

The 2012 Saab 9-3 gets a refreshed exterior with new headlights that adopt the "ice block" headlight effect introduced on the 9-5. The grille and front bumper have also been restyled and outback the SAAB wordmark replaces badging on the chrome trim. Inside the cabin gets a makeover with a new titanium metallic-effect trim.

Under the hood more efficient gas engines deliver an average combined cycle improvement of 4% in fuel consumption. The 2.0L gasoline engine puts out 163 horsepower or 220 horsepower (10 HP increase) depending on which model you choose. Saab continues to offer the 1.9L diesel in Europe that puts out either 130, 160, or 180 horsepower.

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January 19, 2011

Geneva 2011 Preview: 2012 Saab 9-5 SportCombi Teased

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Saab is going to be unveiling the wagon version of the 9-5 at the Geneva Motor Show in March. In the meantime we have our first glimpse of the 9-5 SportWagon aka 9-5 SportCombi.

The 9-5 SportCombi will be powered by the same powertrains as the sedan.

"The launch of the 9-5 SportWagon is a much-awaited next step in the roll-out of our new product offensive," says Saab Automobile CEO Jan Åke Jonsson. "It will take Saab back into the large estate segment where we have established a strong presence in many key markets with our previous offering."

The 9-5 SportCombi will be available this fall.

Continue reading "Geneva 2011 Preview: 2012 Saab 9-5 SportCombi Teased" »

October 18, 2010

2012 Saab 9-4X Officially Unveiled before LA Debut

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Now that Saab is no longer one-foot in the grave, the new models that were being worked on when the company was still under GM control, are being released. First it was the Saab 9-5 and now the long-awaited 9-4X has finally been unveiled.

The 2012 9-4X bears resemblance to the Aero X concept, but it is still based on the same platform as the Cadilac SRX. The base engine is a 265-hp 3.0L V6, while the top engine is a 300-hp turbocharged 2.8L V6. Both engines are mated to a six-speed automatic transmission.

"The 9-4X significantly broadens the appeal of the Saab brand," says Saab Automobile CEO Jan Åke Jonsson, "It gives us entry to the fast-growing crossover segment with a vehicle that reflects our brand values in key areas, such as progressive Scandinavian design and sporty, responsible driving performance. The 9-4X is an exciting package and we're confident it will appeal to many existing Saab owners, as well as win new customers for the brand."

The 2012 9-4X goes on sale in May of 2011.

Continue reading "2012 Saab 9-4X Officially Unveiled before LA Debut" »

September 29, 2010

Saab and BMW Reach Agreement to Supply BMW Engines to Saab

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Saab and BMW have announced a new agreement for the supply of BMW engines that will be used in next-gen Saab models. Under the new agreement, BMW is going to supply Saab with 4-cyl 1.6L turbocharged engines from 2012 on.

BMW currently uses 1.6L turbo engines in its Mini models. No details were released about which Saab models will use the BMW engine.

Saab Automobile CEO Jan Åke Jonsson said: "It gives me great pleasure to confirm this exciting new relationship. BMW's engines and their fuel savings innovations are widely regarded as a benchmark in the premium segment. We look forward to integrating this technology into our next-generation vehicles in a true Saab way."

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Spy Shots: Saab 9-4X Shows up Before Debut in LA

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The Saab 9-4X crossover is slated to debut at the LA Auto Show in November, but thanks to Saabs United we have the first shots of a pre-production 9-4X. The Saab 9-4X was originally developed when Saab was still under GM's ownership, which explains why it is based on the same platform as the Chevy Equinox and Cadillac SRX.

Expect more details from the show.

Continue reading "Spy Shots: Saab 9-4X Shows up Before Debut in LA" »

August 18, 2010

2012 Saab 9-4X to Debut at LA Auto Show in November

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According to the LA Auto Show's Twitter page, Saab has confirmed that the 2012 Saab 9-4X crossover will debut at this year's show in November.

The Saab 9-4X shares its Theta platform with the Cadillac SRX. It's expected to be released sometime in the spring of 2011 as a 2012 model.

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June 21, 2010

Next Saab 9-3 to Debut in 2012

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Saab is said to be hard at work on a replacement for the aged 9-3. According to Autocar the next 9-3 will launch in 2012 as the Saab 93 and will mark the reintroduction of a hatchback version like the original 900.

The next Saab 93 is expected to rival the Audi A3 and will come in sedan, hatchback, convertible and wagon variants. The 93 will borrow some styling cues from the new 9-5 as well. It's not known what will power the new 93, but it's likely that they will not be GM sourced engines. According to sources Saab may have already signed a contract with BMW to supply diesel and gas engines that are going to also be used in the upcoming Mini Countryman.

Continue reading "Next Saab 9-3 to Debut in 2012" »

January 27, 2010

Saab 9-5 Coming Next Quarter

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Now that Saab has been officially saved we can look forward to the introduction of the all-new 9-5 and 9-4X crossover.

"I'm happy for Saab employees and Saab customers all over the world," said John Smith, GM vice president, global planning and alliances.

The 9-5 is going to enter production in April with US sales starting shortly after that. According to Smith the 9-4X, which is based on the same platform as the Cadillac SRX will also enter production soon.

The deal that was announced yesterday netted GM $74 million in cash from new parent Spyker and about $326 million worth of preferred stock. The preferred shares are not redeemable until after 2013. Part of the deal also involves GM producing powertrains and other support for the Saab vehicles.

Continue reading "Saab 9-5 Coming Next Quarter" »

January 26, 2010

Saab Saved! GM Reaches a Deal to Sell the Brand to Spyker

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After so much back and forth, GM has officially announced that the automaker has reached an agreement with Spyker concerning the sale of Saab Automobile AB.

"Today's announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM," said John Smith, GM vice president for corporate planning and alliances. "General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we're all happy for the positive outcome."

Part of the new agreement is that Spyker will form a new company, Saab Spyker Automobiles. GM hasn't announced all the details of the agreement, but its been released that GM will get $74 million in cash while the European Investment Bank will provide a 400 million euro loan ($566 million). GM will retain preferred shares worth about $326 million in Saab.

Spyker's chairman, Vladimir Antonov, has also agreed to step down as part of the agreement.

Continue reading "Saab Saved! GM Reaches a Deal to Sell the Brand to Spyker" »

January 4, 2010

Saab Aero X Could be Produced if Spyker Buys Saab

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As we all wait for GM to finally decide if there is going to be a deal with Spyker concerning the fate of Saab, Spyker has revealed some of its plans for the brand if it does indeed acquire it.

Spyker's boss, Victor Muller recently revealed to AOL that if Spyker does acquire Saab it plans to rebuild the brand around the new 9-5, the 9-4X crossover and the 9-3. The new 9-5 would be released first, in the next few months followed by the introduction of the 9-4X crossover later this year or in 2011.

Regarding the Aero X concept car, Muller stated, "I love that car, and it deserves to be built. It's got true 'Saabishness' in it. It's one of the best designs of the past five years."

We'll have to wait and see what happens. GM has officially extended the deadline for a deal for Saab to January 7th.

Continue reading "Saab Aero X Could be Produced if Spyker Buys Saab" »

December 30, 2009

GM Extends Saab Bid Deadline and Production Expected to Restart

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GM originally had a deadline of December 31st to find a buyer for Saab, but on December 18th GM announced that talks with Dutch luxury carmaker Spyker Cars had failed and the brand would be killed. Two days later Spyker submitted a new offer to buy Saab, which has yet to be decided upon. Spyker Cars Chief Executive Victor Muller has now stated that GM has extended the deadline until January 7th.

Saab spokesman Eric Geers said "We have the orders and we have to deliver them as usual. We also have the orders for the 9-3 and others. The factory has to continue again." He also stated "We are preparing the wind-down process. At the same time we are open to options, to bids that come in. Therefore the deadline has also been dropped."

If Saab does eventually die 3,400 workers in Sweden will lose their jobs.

Continue reading "GM Extends Saab Bid Deadline and Production Expected to Restart" »

December 21, 2009

Spyker Extends its Offer for Saab "Until Further Notice"

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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...

Continue reading "Spyker Extends its Offer for Saab "Until Further Notice"" »

December 20, 2009

Saab May Not Be Dead Yet, Spyker Submits a New 11th-hour Proposal

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On Friday GM announced that it would be winding down the Saab brand in January after talks with both Spyker and Swedish carmaker Koenigsegg failed. Now Spyker has announced today that the car maker has submitted another bid for Saab.

Spyker Chief Executive Victor Muller stated that the company submitted a new proposal to GM that addressed the issues that were holding up the deal. "Despite our collective 11th-hour set-back, we are returning to the table with a renewed offer, that addresses every known issue brought to light during the initial negotiations and that has the full backing of the Saab management," Muller said in a statement.

If the Saab brand does die approximately 3,400 jobs will be lost. After Friday's announcement it was also reported that the Swedish government was holding emergency meetings to address the issue.

The new proposal from Spyker has an expiration date of Monday at 5pm ET.

Continue reading "Saab May Not Be Dead Yet, Spyker Submits a New 11th-hour Proposal" »

December 18, 2009

Breaking News: Saab Sell Falls Through, Brand to Wind Down

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GM has officially announced the death of the Saab brand. In what is going to be a sad day for all the Saab lovers out there, GM has announced that the talks with Spyker to acquire the brand have ended, leaving no other suitors. Last month Koenigsegg unexpectedly withdrew its bid for the brand.

"Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time. In order to maintain operations, Saab needed a quick resolution," said GM Europe President Nick Reilly. "We regret that we were not able to complete this transaction with Spyker Cars. We will work closely with the Saab organization to wind down the business in an orderly and responsible manner. This is not a bankruptcy or forced liquidation process. Consequently, we expect Saab to satisfy debts including supplier payments, and to wind down production and the distribution channel in an orderly manner while looking after our customers."

Continue reading "Breaking News: Saab Sell Falls Through, Brand to Wind Down" »

November 24, 2009

Koenigsegg Backs out of the Saab Purchase!

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GM has announced today that Koenigsegg has terminated the agreement to buy Saab.

GM released a very short press release about the termination and president and CEO Fritz Henderson stated "We're obviously very disappointed with the decision to pull out of the Saab purchase."

This announcement obviously puts Saab's future in jeopardy. GM stated, "we will take the next several days to assess the situation and will advise on the next steps next week."

Continue reading "Koenigsegg Backs out of the Saab Purchase!" »

August 18, 2009

GM and Koenigsegg Come to an Agreement Over Saab Sale

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GM and Koenigsegg have announced that a deal has been finalized between the two over the sale of Saab. The deal involves a 100 percent sale of Saab to Koenigsegg by the end of the year. The final piece of the deal involves funding from the European Investment Bank in the amount of 4.3 billion kronor, which is dependent on the Swedish government.

The exact price that Koenigsegg is paying for Saab has not been disclosed, but according to sources it is very low.

Continue reading "GM and Koenigsegg Come to an Agreement Over Saab Sale" »

July 22, 2009

2010 Saab 9-5 Images Leaked

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Thanks to Autobild we now have our first look at the 2010 Saab 9-5.

Stay tuned as more info comes in.

Continue reading "2010 Saab 9-5 Images Leaked" »

June 11, 2009

Koenigsegg and Norwegian Investors to Buy Saab According to Swedish Television

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Luxury car maker Koenigsegg and a group of Norwegian investors have signed a letter of intent with GM to take over Saab according to Swedish television.

Final details of the deal have not been finalized.

Continue reading "Koenigsegg and Norwegian Investors to Buy Saab According to Swedish Television" »

February 20, 2009

Saab Files for Bankruptcy and Asks for $1 Billion

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GM has announced that Saab has filed bankruptcy in Swedish courts in an effort to reorganize the company and to become independent from GM.

The reorganization of Saab will lead to the design, engineering and manufacturing being concentrated back in Sweden. But in order for this to happen GM needs to secure financing, which is the main issue. The Swedish government already rejected GM's request for cash. According to the Automotive News Saab may need as much as $1 billion to remain sustainable on its own.

Currently Saab plans on launching three new vehicles of the next year and a half, the 9-3X, 9-5 and 9-4X...well that's if Saab can raise the money to sustain itself.

Continue reading "Saab Files for Bankruptcy and Asks for $1 Billion" »

December 23, 2008

Detroit 09' Preview: 2009 Saab 9-5 Griffin Edition

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Saab loves its special edition models and although the current 9-5 is close to the end of its life cycle, Saab is releasing a 9-5 Griffin Edition.

The 9-5 Griffin Edition is powered by a 2.3L 260 horsepower 4-cylinder engine that can be mated to either a manual or automatic transmission.

The exterior of the 9-5 Griffin features a matte chrome grill, Xenon headlights, rear spoiler, unique five-spoke 17-inch alloy wheels and Griffin badges. Inside there is a high gloss interior trim and Aero-inspired leather seats.

The 9-5 Griffin starts at $42,775 for the Sedan and $ 44,045 for the SportCombi model.

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November 12, 2008

LA Preview: Saab Celebrates 25 Years with a Special Edition 9-3 Convertible

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Yesterday it was reported that GM has canceled all of its press events and major intros at the LA Auto Show, which leaves the automaker with very little to show off. Since there isn't much to show, Saab is going to quietly debut its 25th anniversary edition of the 9-3 convertible.

The 2nd limited edition 9-3 convertible is available in three colors, Jet Black, Carbon Grey, and Bright Champagne. It's powered by a 210 horsepower 2.0L engine that can be mated to either a six-speed manual or five-speed automatic transmission.

The anniversary 9-3 convertible will be in showrooms in January 2009 with a starting price of $46,725.

Continue reading "LA Preview: Saab Celebrates 25 Years with a Special Edition 9-3 Convertible" »

September 18, 2008

Saab 9-X Air BioHybrid Concept Unveiled Ahead of Paris Show

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Saab has unveiled the 9-X Air BioHybrid Concept ahead of the Paris Motor Show next month.

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