SAAB-Spyker Press Release

  1. Welcome to GM Inside News Forum – General discussion forum for GM

    Welcome to GM Inside News Forum - a website dedicated to all things GM.

    You are currently viewing our forum as a guest, which gives you limited access to view most discussions and access our other features. By joining our community, at no cost, you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is free, fast and simple, Join GM Inside News Forum today!
     
Page 1 of 2 12 LastLast
Results 1 to 15 of 23

Thread: SAAB-Spyker Press Release

  1. #1
    6.0 Liter L76 V8 Andonis's Avatar
    Join Date
    Dec 2003
    Location
    Outatime
    Posts
    2,080
    Thanks
    0
    Thanked 0 Times in 0 Posts

    SAAB-Spyker Press Release

    Spyker Press Release

    SAAB AUTOMOBILE CONTINUES TO WORK ON SECURING ITS SHORT AND MEDIUM TERM FUNDING
    Zeewolde, The Netherlands, 12 April 2011 – Spyker Cars N.V. (Spyker) announces that Saab Automobile AB (Saab Automobile) continues to work on its short and medium term funding.
    Spyker and Saab Automobile are currently in discussion with several parties to secure additional short and medium term funding for Saab Automobile. The Swedish National Debt Office (NDO) has been requested to release its pledge in the shares of Saab Automobile Property AB in order to enable Saab Automobile to use this property to secure further funding. This is one of the funding scenario’s Saab Automobile is currently working on. The outcome of the discussions is still not certain and subject to the release of the NDO. Spyker expects to be able to come with more details before Thursday 14 April 2011.
    The additional liquidity that Spyker and Saab Automobile expect to secure is required to start up production, realise Saab Automobile’s business plan during 2011 which includes launches of the new 9-4X cross-over and the all new 9-5 SportCombi in the coming months.
    Saab Automobile has temporarily halted its production. With additional funding in place to resolve outstanding payment issues with its suppliers Saab Automobile expects it will be able to resume normal production within a week from the receipt of funds.

  2. Remove Advertisements
    GM Inside News
    Advertisements
     

  3. #2
    4.6 Liter Northstar V8 patrickbec's Avatar
    Join Date
    May 2003
    Location
    Houston & Johannesburg, South Africa
    Posts
    1,522
    Thanks
    1,384
    Thanked 687 Times in 398 Posts
    My Ride
    RHD:09 CTS,07 SRX/ LHD:13 ATS

    Re: SAAB-Spyker Press Release

    Rip saab

  4. #3
    7.0 Liter LS7 V8 Caddyguy57's Avatar
    Join Date
    Apr 2004
    Location
    Trumbull,Ct
    Posts
    4,241
    Thanks
    99
    Thanked 66 Times in 37 Posts
    My Ride
    1988 Buick Reatta

    Re: SAAB-Spyker Press Release

    I just saw my 1st new 9-5 on the road yesterday. Will it be the last one I see? I really hope not.

  5. Remove Advertisements
    GM Inside News
    Advertisements
     

  6. #4
    3.0 Liter SIDI V6
    Join Date
    Jan 2003
    Posts
    579
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Re: SAAB-Spyker Press Release

    Did anyone seriously think they would last?

    Watch for the Chinese bargain hunters

  7. #5
    R2-D2 Astromech Droid Premium Member paul8488's Avatar
    Join Date
    Jul 2003
    Location
    Shanghai, China
    Posts
    23,621
    Thanks
    4,145
    Thanked 4,186 Times in 2,403 Posts
    My Ride
    1983 Opel Corsa TR coupe

    Re: SAAB-Spyker Press Release

    So they didn't have proper funding in place more than a year out (from when they made the deal last year)? How did all parties agree to such a hail-mary plan? I hope for the best, but it doesn't seem like this Spyker crew has things figured out.
    Automotive stories and pictures for the rest of us:

    Hidden Content

  8. #6
    6.2 Liter LS9 Supercharged V8 CaptainDan's Avatar
    Join Date
    Mar 2007
    Location
    Michigan
    Posts
    5,737
    Thanks
    14
    Thanked 1,389 Times in 743 Posts

    Re: SAAB-Spyker Press Release

    Quote Originally Posted by SimonDavid View Post
    Did anyone seriously think they would last?

    Watch for the Chinese bargain hunters
    Russian!
    '16 Chevy SS
    a 4 door Camaro

  9. #7
    6.2 Liter LS9 Supercharged V8 neshapop's Avatar
    Join Date
    Sep 2005
    Location
    Toronto, ON
    Posts
    5,546
    Thanks
    338
    Thanked 175 Times in 110 Posts
    My Ride
    2019 Honda Civic Touring

    Re: SAAB-Spyker Press Release

    When I saw the new 9-5 and the sticker price I knew this day would come.

  10. #8
    R2-D2 Astromech Droid Bravada's Avatar
    Join Date
    Nov 2004
    Location
    Warsaw, Poland
    Posts
    17,579
    Thanks
    1
    Thanked 7 Times in 4 Posts

    Re: SAAB-Spyker Press Release

    Quote Originally Posted by paul8488 View Post
    So they didn't have proper funding in place more than a year out (from when they made the deal last year)? How did all parties agree to such a hail-mary plan? I hope for the best, but it doesn't seem like this Spyker crew has things figured out.
    They do, it's a rather dangerous ploy they have devised to forcibly let Vladimir Antonov in. It was rather clear he was financing the whole deal all along, it was only a smoke-and-mirrors game with the wary people on the GM and Swedish guvmint side to somehow placate their fears about letting a Russian investor in.

    It was fairly obvious it would end that way, I am very much surprised GM, the Swedish government, EIB et al. agreed to that rather than the straightforward way.

  11. #9
    2.4 Liter SIDI ECOTEC Orbit's Avatar
    Join Date
    Oct 2008
    Location
    Canada
    Posts
    286
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Re: SAAB-Spyker Press Release

    I wonder whether Saab will take Spyker down with it, or if Sypker can insulate its core business enough so that it could withstand the folding of Saab.

  12. #10
    7.0 Liter LS7 V8 prowlerjc's Avatar
    Join Date
    Jan 2003
    Posts
    4,181
    Thanks
    10
    Thanked 60 Times in 35 Posts

    Re: SAAB-Spyker Press Release

    I figured this would happen...

  13. #11
    Guest
    Join Date
    Feb 2010
    Posts
    239
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Re: SAAB-Spyker Press Release

    It's a shame - I would hate to see Saab go. But, I would rather see Saab fail than to see all of GM's technology (ie 9-5, 9-4) fall into the hands of the Russians. Ultimately, what I would want to see is GM ride to the rescue and bring Saab back into the fold. I know, not going to happen - but a guy can dream.

  14. #12
    2.8 Liter Turbocharged V6
    Join Date
    May 2009
    Location
    SE MI
    Posts
    785
    Thanks
    511
    Thanked 361 Times in 204 Posts
    My Ride
    2008 HHR SS

    Re: SAAB-Spyker Press Release

    There's been some 94X sightings around here in the past 2 weeks, but I think they will eventually pull out of the US, and retreat to Europe - and Russian ownership. This should be no surprise to anyone who has been paying attention. Selling 500-700 cars a month here won't even come close to covering their US overhead.

  15. #13
    News Contributor Premium Member Perian's Avatar
    Join Date
    Nov 2004
    Location
    New York
    Posts
    8,412
    Thanks
    80
    Thanked 3,186 Times in 1,150 Posts
    My Ride
    2017 Jaguar F-Type (Manual)

    Re: SAAB-Spyker Press Release

    Quote Originally Posted by Caddyguy57 View Post
    I just saw my 1st new 9-5 on the road yesterday. Will it be the last one I see? I really hope not.
    I'll do my best this weekend driving from New York to Annapolis and back for the 2011 Army-Navy lacrosse game.

    Go Navy. Beat Army!

  16. #14
    6.2 Liter LS3 V8
    Join Date
    Feb 2005
    Posts
    3,407
    Thanks
    2
    Thanked 9 Times in 5 Posts

    Re: SAAB-Spyker Press Release

    Sounds like Spyker may have to write this one off as a bad investment.

  17. #15
    6.2 Liter LS3 V8 ByTheLake's Avatar
    Join Date
    Jun 2004
    Location
    Traverse City, MI
    Posts
    3,994
    Thanks
    23
    Thanked 151 Times in 68 Posts

    Re: SAAB-Spyker Press Release

    Hard to imagine how Saab could be viable in the long term, given the level of global competition that exists today. Hard for any independent niche brands to compete. Saab's best chance would be to get acquired by a a large global auto giant looking for a boutique brand. Does Saab's brand have the cachet to make it worth saving? Hard to make that case.

  18. Remove Advertisements
    GM Inside News
    Advertisements
     

Page 1 of 2 12 LastLast

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Powered by vBadvanced CMPS v4.1.2