another great car name going

[Rob 5059]

pretty sad news really.

 

 

http://news.bbc.co.uk/1/hi/business/8421007.stm

[arbocop]

pretty sad news really.

 

 

http://news.bbc.co.uk/1/hi/business/8421007.stm

 

Very sad indeed, and a sad indictment on the state of International Corporate growth.

 

A poorly managed businesses supported by US Government money, buys out European Companies to prop up their own business. They eventually reach crisis point and dump everything else in order to slim down and form a functional business following a further massive cash injection intended to support US jobs. Foreign companies don't form part of this deal. Saab go down the pan, followed in all likelihod by Opel, and possibly Vauxhall.

 

It stinks.

[Newt]

They have plenty of company over the years.

 

http://en.wikipedia.org/wiki/List_of_defun...e_manufacturers

[jeepster]

Saabs have been awful for years though, rebodied Vauxhalls for the most part, a far cry from the 900 and 9000 which were amazing cars.

[chesters1]

saab nor volvo haven't been "great" for years,

my son hated my golf but he found his saab was one but in a different suite

Edited December 19, 2009 by chesters1

[Rob 5059]

Ya as Newt says they have lots of Companies to keep them company. For me in recent times the sadest demize was MG I had a 1996 MGF which I absolutly loved (and before anyone else says it NO the headgasket never went on mine anyway ) Sold it March last year really missing it, never used it a lot only Sundays but boy that car got more polish on it than both of the other two cars in the Drive. Thinking very hard if to invest in another one

 

Rob

[Elton]

Modern day Saabs have never done it for me. I often wondered who their target market actually was.

[jeepster]

People who considered themselves not enough of a prick to drive an Audi

[Elton]

GM Reaches Agreement to Sell Saab to Spyker

 

2010-01-26

 

General Motors and Spyker Cars NV today confirmed that they have reached a binding agreement on the purchase of Saab Automobile AB.

 

"Today’s announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM,” said John Smith, GM vice president for corporate planning and alliances.

 

“General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we're all happy for the positive outcome,” Smith said.

 

As part of the agreement, Spyker intends to form a new company, Saab Spyker Automobiles, which will carry the Saab brand forward. The sale will be subject to customary closing conditions, including receipt of applicable regulatory, governmental and court approvals. Other terms and conditions specific to the sale will be disclosed in due time.

 

The Swedish government is at present reviewing the transaction and the related request for guarantees of a Saab Automobile loan that has been requested from the European Investment Bank. Assuming quick action, the transaction is expected to close in mid-February, and previously announced wind down activities at Saab will be immediately suspended, pending the close of the transaction.

 

“Throughout the negotiations, GM has always had the hope to find a solution for Saab that would avoid a wind down of the brand,” added Nick Reilly, president, GM Europe. “We’ve worked with many parties over the past year, including governments and investors, and I’m very pleased that we could come to such a good conclusion, one that preserves jobs in Sweden and elsewhere. GM will continue to support Saab and Spyker on their way forward.”

 

###

 

About General Motors: General Motors, one of the world’s largest automakers, traces its roots back to 1908. With its global headquarters in Detroit, GM employs 204,000 people in every major region of the world and does business in some 140 countries. GM and its strategic partners produce cars and trucks in 34 countries, and sell and service these vehicles through the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel, Vauxhall and Wuling. GM’s largest national market is the United States, followed by China, Brazil, Germany, the United Kingdom, Canada, and Italy. GM’s OnStar subsidiary is the industry leader in vehicle safety, security and information services. General Motors acquired operations from General Motors Corporation on July 10, 2009, and references to prior periods in this and other press materials refer to operations of the old General Motors Corporation. More information on the new General Motors can be found at www.gm.com.

 

Saab background: Saab entered the auto business in 1949 with the first model 92. Its aerodynamic shape and advanced technology drew from the company’s roots as an aircraft maker, and helped create what was to become a loyal and passionate customer base. GM acquired a 50 percent stake in Saab in 1990, and acquired the balance of Saab in 2000. As part of its strategy to focus on its four strongest brands in the U.S., GM began seeking a buyer for Saab in January 2009, a concerted effort that led to today’s announcement.

[chesters1]

People who considered themselves not enough of a prick to drive an Audi

its been a VW for years