Saab off to Koenigsegg’s Garage

The tale of Saab may come to a close with a three way agreement through a letter of intent between General Motors, Koenigsegg, and a group of investors from Norway.

GM disclosed that it will no longer call the shots for Saab and the Swedish car manufacturer will be an independent entity by January 2010.

The announcement of the sale may come before the end of the month, considering the plans of the car maker to write off some debt and be on the positive side of the scale by 2011. Final negotiations might be taking place but final details are still being ironed out according to insiders.

According to the Saab spokesperson, there were three firms that are still showing interest for the company and the sale will push through despite of the filing of Chapter 11. Those remaining on the negotiating table are Swedish car maker Koenigsegg, Wyoming investor group Merbanco, and the Renco Group of Ira Rennert. The bidders’ number was trimmed down from a list of 20.

Read the rest of this entry »

Saab’s Most Popular Car Models

The proud owners of SAAB cars are a famous lot. They are renowned all over the world for their passion for Swedish cars that have been manufactured by an organization that basically was an Aeroplane manufacturing company. Though people might now know about this fact, they do know that the cars manufactured by SAAB are famous all over the world for their safety and also for their build. There are certain innovative features that have been introduced to the car industry by SAAB and this makes them even more famous. Those who have checked out this history of this Swedish car manufacturing organization and are interested in purchasing one for themselves often ask about the different models that are manufactured by this Swedish company.

They should know that there are quite a number of models that they can go in for and here are a few of the most popular ones. Saab 9-3 2.0t Linear, Saab 9-3 2.0t BioPower Linear, Saab 9-3 2.0t Linear Sport, Saab 9-3 1.9TiD Linear, Saab 9-3 2.0t Linear Sentronic, Saab 9-3 2.0t BioPower Linear Sport, Saab 9-3 2.0t BioPower Linear Sentronic, Saab 9-3 2.0t Vector, Saab 9-3 1.9TiD Linear Sport, Saab 9-3 2.0t Linear Sport Sentronic, Saab 9-3 1.9TiD Linear Sentronic, Saab 9-3 2.0T BioPower Vector, Saab 9-3 2.0t BioPower Linear Sport Sentronic, Saab 9-3 2.0t Vector Sentronic, Saab 9-3 1.9TiD Vector, Saab 9-3 1.9TiD Linear Sport Sentronic, Saab 9-3 2.0T BioPower Vector Sentronic, Saab 9-3 2.0T Vector, Saab 9-3 1.9TiD Vector Sentronic and Saab 9-3 2.0T Vector Sentronic

SAAB in search for 5 potential bidders; Chinese company renounce interest

Swedish car manufacturer Saab is still on the search to find a new owner for their brand within two months.

According to Jan-Ake Jonsson, Managing director of the car company said that they have five potential bidders that they want to negotiate with. They already have some serious talks regarding the offer but Saab didn’t specify which bidder is in much interest on buying Saab.

Geely Automobile and Dongfeng Motor Group of China renounce their interest in SAAB, after some sources reported to Reuters that the mentioned Chinese companies are included in the list of the potential bidders. An executive of Geely said that the company did not hold any talks regarding buying the Saab car brand and Geely is not interested in taking or buying foreign brands. Meanwhile, reports are circulating that Geely is in preliminary negotiations with Ford Motor Co. about the sale of Ford’s Volvo vehicle unit, though reports again stated that Geely has no plans of buying the Volvo.

Read the rest of this entry »

Saab Still Under Strategic Review, Potential Buyers Show No Interest

General Motors admits that they are having a hard time selling the Swedish brand Saab. The brand is now under “strategic review” when the car manufacturer submitted a report to the U.S. Congress in search for a long term plan to save its future.

GM has not really disclosed that they are selling the Saab brand but has quietly looked for potential buyers. The term strategic review pertains to the act of the corporation to scan the market for potential interested parties.

The market’s lack of interest on Saab makes it the second brand that GM fails to shed as it goes through mergers and acquisitions. GM also failed to sell Hummer which was under review since the first half of 2007.

The administration of President George W. Bush promised a $13.4 billion package for the car manufacturer. As part of its plan to save majority of its business, GM is looking at trimming the Pontiac brand and explore what the future holds for Saturn.

Read the rest of this entry »