Reuters are reporting that Saab are to seek the protection of Swedish courts to allow it to get finance in place. Another day, another Saab story. But the reports that Saab are to seek the protection of the courts in Sweden from the actions of creditors does ring true. And it does add up. It […]
Saab increase pay for Board members as Swedish Debt Office circles
It’s reported that Saab has increased the pay of Board members as Sweden’s Debt Office begins proceedings against Saab. It never rains, but it pours. And for Saab and Victor Muller it has been a year or more of almost unbroken storms, punctuated with just the odd ray of financial sunshine as Victor Muller combs […]
The Saab Saga – now it’s a share sale to raise cash
Swedish Automobile – best known as Saab – has announced it is to sell shares to GEM Global Yield Fund Ltd in an effort to raise more cash. We’re not really sure we see how on earth the announcement from Saab that they are selling shares to raise funds is going to work. But we’ll report it […]
Saab production delayed until at least end August
Saab (Swedish Automobiles) has announced that production at Trollhatten will not now resume on 9th August. They hope to restart on 29th August. We’ve kept the faith with Saab so far, and we’ve been happy to report every time they tell us that Victor Muller has managed to charm another injection of cash for Swedish […]
Saab drags in another €41 million – but it’s still not enough
The Saab financial problems continue, despite €28 million from a sale and lease back deal and €13 million for car sales to China in the last few days. It’s a tough call, knowing how often to report on the financial woes still engulfing Saab. Do we rush to run a story every time we get a bit of information in […]
Saab: On the edge of oblivion
It now appears that not only are Saab unable to pay their suppliers – and thereby guarantee a reliable flow of components – they now can’t pay wages either. We’ve had a statement in from Saab this morning telling us that they are now unable to pay their staff until they manage to get a bit of funding […]
‘Old Pang’ spends another €15 million at Saab
China’s Pang Da has bought a further 650 cars from Saab with an upfront payment of €15 million. They paid €30 million for 1300 Saabs last week. The ‘Old Pang’ bit isn’t our derogatory name for the head of China’s Pang Da – who are busy getting in to bed with Saab – but is how the […]
Saab production restarts – again.
Production has restarted at Saab’s Trollhättan factory after the troubled Swedish car maker finally got its hands on some much-needed Chinese cash from Pang Da. Of course, we nearly got here before when Saab went courting China’s Hawtai Motor Group, but that deal fell apart when the Chinese government refused to sanction the deal. Or Hawtai pulled out. Depending on […]
New Saab 9-3 to get ZF Chassis
Saab are to tie-up with component-maker ZF to produce chassis for the Saab PhoeniX – the next Saab 9-3 Last week the interweb was rife with rumours that Saab were about to hit the skids. A story fuelled by (alright, entirely as a result of) comments attributed to putative investor Vladimir Antonov. Who was clearly mischief making. Amazingly, […]
Saab 9-4X: First 9-4X rolls out
The first production Saab 9-4X has rolled off the line in Mexico, destined for a US media event. First customer 9-4X in May in US and August in UK. I seem to remember we did a similar headline to ‘Saab 9-4X Rolls Out’ almost exactly a year ago. But that headline – when Saab built […]