A report in a Swedish business journal, Dagens Industri, picked up by Automotive News, claims Beijing Automotive (BAIC) paid $197 million (1.4 billion Swedish krona) to acquire current-generation 9-5 (and select 9-3) technology and tooling.
This sum is enough to pull Saab back from the edge of financial collapse, and allow it to keep operating for 3 more months while an additional purchase deal, or deals, are made, the report indicates. The Dutch automaker Spyker is still thought to be a prospective buyer.
Saab, you'll recall, still has the rights, technology and tooling to the redesigned 9-5, at least a portion of the current 9-3 line and, we assume, the 9-4X.
Dagens Industri (in Swedish) via Automotive News
billt9 says:
09:22 AM, 12/15/09
Does anybody make money from selling cars these days, or just "Stay alive" from borrowed money...
Sounds like carmakers should charge $10,000 more per car to make a sound business plan.
They're not ripping you off at the dealership; that's how much it costs, and more, to make a car.