NEWS

SAAB has announced it’s secured a 25m euro loan for short-term funding and to pay its workers. The marque’s owners  Swedish Automobile – SWAN – said in a statement: ‘A EUR 25m convertible bridge loan agreement with Gemini with a six months maturity. The interest rate of the loan is 10 per cent per annum and [...]

SAAB has announced it is offering its customers free membership to a loyalty scheme called the Saab Service Club. The club provides a host of exclusive benefits including free visual health checks and discounts on parts, servicing and Saab accessories. Drivers who own a Saab of three years or older automatically qualify for free membership [...]

SPYKER has announced Saab has sold shares to Chinese motor group Hawtai to secure its long-term future. The Chinese motor group will invest €150m in the Swedish brand in return for shares. The deal will see the re-commencing of production and will allow Saab to pay of outstanding debts. Of the €150m, Hawtai will pay €120m [...]

THE first Saab 9-4X crossover to be  produced has now rolled off the assembly line at the Ramos Arizpe plant in Mexico. Saab automobile president & CEO Jan Åke Jonsson was on hand to see regular production begin, just three months after the 9-4X was unveiled last November at the 2010 Los Angeles Auto Show. [...]

AN Inverness business is the latest dealership to join the Saab network it has been announced. Ness Motors Ltd of Inverness will offer the full range of Saab vehicles as well as providing full servicing facilities, MOT testing and an extensive after sales department supplying parts and accessories. The existing County Saab dealership will close its [...]

MANHEIM has signed an exclusive three-year contract with Saab GB to provide remarketing services. In conjunction with its partners C Walton Ltd at Bruntingthorpe, Manheim has signed the deal with Saab’s UK arm to provide an ‘end-to-end service to manage the remarketing of its ex rental, press, demo and management cars to its franchised dealer [...]

SAAB has announced the appointment of Matthias Seidl as their new executive director sales. Seidl was most recently president and CEO of Detroit-based automotive consultancy API, and prior to this had spent 20 years in the Volkswagen Group both in Audi and VW itself. He was COO for Volkswagen in the USA, and held executive roles [...]

FORMER General Motors-owned Saab has moved to brand new head offices in Milton Keynes. The UK arm of the Swedish company will now be based at Cranfield’s Technology Park adjoining Cranfield University in Milton Keynes. The move ‘fits perfectly’ with Saab’s aerospace heritage, says the firm, as the University is acknowledged as being a leading [...]

Saab is alive! We’ve reported about the on/off saga seemingly non-stop over the past few months here at Car Dealer Magazine. The final instalment, though, saw the revival of the firm, under supercar maker Spyker. Not only is it saved, but there’s also a brand-new model to mark the rebirth. Enter the BMW 5 Series-rivaling [...]

NORTH City Volvo has taken over a former Saab showroom and continued the Swedish form in Chigwell. It marks an expansion for the car dealer, which will continue to service Saab, as well as retail Triumph motorcycles. The High Road dealer has 25 years’ main dealer experience, and is a family business set up by [...]

SPYKER Cars is the new owner of Saab Great Britain after completing a deal with General Motors UK. The new company will take over distribution of Saab cars in the UK. Work is now under way to set up operations independent of GM UK – culminating in a move to new premises, expected to take [...]

SAAB has finally been sold to supercar maker Spyker following an extremely drawn out sales process by GM. The transfer of ownership was signed this afternoon – meaning Car Dealer Magazine can finally say what we’ve been trying to for months: Saab is sold! What’s more, the introduction of the new 9-5 is BACK ON, [...]

SAAB has been saved at the 11th hour by Swedish supercar maker Spyker after a long tangled sale process. The on-off-on-off sale by GM finally came after Saab had been given the last rites by the American giant. A deal is expected to now be concluded by the end of February, which will create an [...]

SAAB sales are continuing to hold up well at one car dealer despite the expected demise of the brand. Motorpoint says mode than 50 Saabs were sold at its car dealers in December – little different to the totals it has recorded in other months. Massive price savings are planning a big part here, says [...]

F1 supremo Bernie Ecclestone has reportedly made a shock move to buy Swedish car maker Saab! GM had said a deal to sell Saab is unlikely – but last ditch attempts by several parties are being prepared. The deadline for offers was 10pm yesterday. GM chief exec Ed Whitacre initially said no bidders have come [...]

SAAB could be saved at the 11th hour after supercar firm Spyker tabled a last minute offer to owners GM. The Dutch supercar maker says the new proposal overcomes all the hurdles GM found in the previous rejected offer. Previous due diligence raised a number of issues, said Spyker chief Victor Muller. The new 11 [...]

SAAB is to CLOSE, General Motors has just announced, after the US firm failed to sell the Swedish brand. A statement said GM is beginning ‘orderly wind-down of Saab operations’. ‘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 [...]

GM boss Fritz Henderson has resigned, it was announced at this month’s GM board of directors meeting. Board chairman Ed Whitacre will now take the hot seat, until a replacement can be found. Henderson had been in the role just 8 months, and it unclear what led to the decision. GM had recently, however, announced [...]

SUPERCAR maker Koenigsegg has pulled out of a deal to save Saab, leaving the brand’s future in doubt. The Swedish maker of high-performance motors agreed to buy Saab from GM in August. Things were delayed when the European Investment Bank didn’t immediately offer to guarantee at €400 million loan. This did gain approval a month [...]

SAAB has today officially revealed its most important car in decades: the all-new BMW 5 Series-rivalling 9-5. Debuting at next month’s Frankfurt Motor Show, it will go on sale in 2010. Striking looks give the new model an almost concept car look, but Koenigsegg-owned Saab also promises plenty of technology below the surface, and a [...]