SAAB still struggling
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  1. #1
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    Default SAAB still struggling

    probably no surprises here..

    -----------------------------------
    New Saab owner halts production over cash-flow problems
    2014-05-20 15:47:25.148 GMT


    Stockholm (DPA) -- The Chinese-backed consortium that owns Saab,
    the Swedish carmaker that went bankrupt three years ago, said
    Tuesday it would halt production for four weeks citing cash flow
    problems.
    "We need to cut costs since we at present have difficulties
    paying suppliers," spokesman Mikael Ostlund told Swedish Radio.
    The consortium, National Electric Vehicle Sweden (NEVS), took
    over the ailing carmaker in 2012.
    NEVS said that shareholder Qingbo Investment, which has a
    22-per-cent stake, "has not fulfilled their contractual
    obligation to finance the operations."
    The production rate, which stood at six cars a day, will be
    stopped and NEVS was to also shed some consultants.
    NEVS said it was in talks with two foreign carmakers. One of them
    was interested in part ownership of NEVS, while the other was
    considering cooperation on developing the future platform.
    Until the beginning of 2010, Saab belonged to US car giant
    General Motors. It was subsequently taken over by Dutch boutique
    sports carmaker Spyker.
    The company was declared bankrupt in December 2011 after a
    failure to reorganize the business and find new investors.

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  2. #2
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    Hi :-)
    The only surprise to me is that they are still going !! I thought they died after Spyker left ! What a waste.
    cheers jaahn

  3. #3
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    as i read it, in 2010, industry analysts were plainly of the view that Saab, as a standalone, wasnt even close to the scale required to be in the mainstream car market. even as part of GM it lost money, so what exactly the subsequent disparate group of bit players hoped to achieve, is somewhat of a mystery.

    amazing how long it is taking to drown this kitten!

  4. #4
    1000+ Posts gerry freed's Avatar
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    The Chinese had some success with Volvo both in acquiring a viable niche player and in improving their access to current technology. This group hoped that they had obtained some brand value and a base to build on electric car technoloogy. IMHO, GM killed what brand value was left in SAAB.
    Think Global - Ride on Spheres

  5. #5
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    Quote Originally Posted by gerry freed View Post
    IMHO, GM killed what brand value was left in SAAB.
    plus 1

  6. #6
    1000+ Posts REN TIN TIN's Avatar
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    6 cars a day! For this many cars you'd be lucky to have enough workers in the factory to field a cricket team.
    Makes our Australian car manufacturing (until it disappears in a year or two) look decidedly gigantic.

    Cheers
    Ren
    "I cannot help but notice that there is no problem between us that cannot be solved by your departure. Mark Twain"

  7. #7
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    should add to the rarity value of these late model Saabs

  8. #8
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    Just because they are rare doesn't guaranty that they will be collectable.
    If you've got too much traction, you haven't got enough horse power ...




    .2010 Holden Commodore Ute
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    1973 Alpine Renault A310/4 1600 VE

  9. #9
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    it was a joke!

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