This Saab thing just won't stop. We were so close back on Oct. 28 when Saab agreed to the purchase offer by Youngman and Pang Da. Trouble is, nobody bothered to ask GM.
What's GM got to do with it? Well, they have licensing agreements with Saab and provide Saab with the 9-4X.
For obvious reasons, GM doesn't want their technology or platforms being sold to a Chinese company that they have no ties with. GM spokesman Jim Cain provided the official stance, "Although General Motors is open to the continued supply of powertrains and other components to Saab under appropriate terms and conditions, GM will not agree to the continuation of the existing technology licenses or the continued supply of 9-4X vehicles to Saab following the proposed change in ownership as it would not be in the best interest of GM shareholders."
Saab responded to this by saying "Swan and Saab automobile acknowledge the position taken by General Motors and will now discuss the Pang Da and Youngman to see whether a structure can be agreed which is acceptable to all parties concerned."
So now Saab is going back to the negotiating table with Pang Da and Youngman, but without any GM assets. If you thought $142 million was a low offer, be prepared.
boobylortez says:
02:45 PM, 11/ 7/11
I know this is getting old and a lot of you are saying "Kick the bucket, already", but I really hope Saab survives. I've never owned a Saab but I can appreciate their history and their place in the market. They're cool in a way the other luxury makers never can be.
That, and the 9-5 is one of the prettiest cars on the road.
mind_ride says:
03:19 PM, 11/ 7/11
+1 @ boobylortez.
brn says:
03:47 PM, 11/ 7/11
boobylortez, I can appreciate Saab too, but they've always been overpriced. Surviving is one thing, but with the road they're taking, we're all better off if they're dead. Find another road for them and I'll change my tune.
firstwagon says:
06:30 PM, 11/ 7/11
"Surviving is one thing, but with the road they're taking, we're all better off if they're dead."
What road are you referring too?
billt9 says:
03:05 AM, 11/ 8/11
$142 million is enough money for 1 rich man, not a company.
What can that build, after spending the cost of development and manufracturing infrastructure? 2 cars?
They'll need to borrow money again in 1 week.
greenpony says:
08:41 AM, 11/ 8/11
Perhaps dismantling the company and selling its assets individually would net more money.
stovt001 says:
08:55 AM, 11/ 8/11
Saab wins the Rasputin award for being ridiculously hard to kill. I'm rooting for it to survive out of sheer defiance.
justinlink says:
11:21 AM, 11/ 8/11
Good lord, let it die already. They haven't made a car a car in months, and with 194 9-4X's sold in October (according to Car and Driver), they may as well not exist already, even with GM produced automobiles.
I get the niche-brand, cult-following thing, but even Lotus makes more cars than Saab does.
brn says:
05:43 PM, 11/ 8/11
fw, taking a pittance to give their name and tech to a Chinese company, so they can undercut the rest of the world with crap. If that's how Saab survives, I don't want it.