July 31, 2014

Saab bid deadline dropped – production to re-start

The deadline for the sale of Saab has been dropped

The deadline for the sale of Saab has been dropped

Saab is to re-start production lines and the deadline for bids for Saab has been dropped, according to Saab and Spyker’s Victor Muller.

I’m not sure whether to call the sale or not of Saab by GM as a debacle or a soap opera. But it certainly seems to be a huge mess and it is not clear if one hand knows what the other is doing.

We’ve had the sale to Koenigsegg blown out of the water, the first bid by Spyker dismissed and the second bid by Spyker for Saab met with indifference and a statement by GM that “…GM has no plans for any further announcements regarding Saab”. That was followed by a report from Sweden that GM are planning on re-badging the new 2010 Saab 9-5 as a Buick. What a saga.

Now comes news that GM are dropping the end of year (i.e. tomorrow) deadline for the sale of Saab. But that doesn’t come from GM but from Spyker CEO Victor Muller. GM Europe said they didn’t know the deadline had been dropped and couldn’t comment.

Saab however has confirmed the deadline has been dropped and production will re-start in January. Saab spokesman Eric Geers said:

“We have the orders and we have to deliver them as usual. We also have the orders for the 9-3 and others. The factory has to continue again.

We are preparing the wind-down process. At the same time we are open to options, to bids that come in. Therefore the deadline has also been dropped”

And the beat goes on.

Source: Reuters

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