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It's Official! Saab sold to Koenigsegg!

7K views 62 replies 39 participants last post by  Saabotaged900T 
#1 ·
#41 ·
I meant more along the lines of a high powered x, a new viggen, the rebirth of the c900 performance days etc. we can hope, but I really think koenigsegg is in it for themselves and grabbing some tech and a sellable brand to make them some extra cash, like I said though, we can hope!
 
#45 ·
what they really need to do is make a car that can run at talladega again... or better yet have koeneggseg parade around lemans with a saab badge on a decent sports coupe. thats the type of marketing saab needs. they need to tell the world they are built like tanks with leather... the best part about a classic saab (to me) is that it will last forever. and the only way to tell the masses is beat the snot out of it for 24 hours and come out on top:p
 
#46 ·
There is no mention of price for the brand anywhere, which makes me wonder whether or not Koenigsegg is taking Saab off GM’s hands. I’m still so shocked though. Koenigsegg buying Saab! The company has around 50 employees! Obviously though it’s not Koenigsegg alone, that would never be possible. Christian von Koenigsegg is quick to stress in interviews with Swedish newspapers that it is not tiny Koenigsegg that is “taking over” Saab. He says a financially strong consortium is what is purchasing the brand, and that group is being led by Koenigsegg.Still pretty crazy though given Koenigsegg’s size that it would be leading anything. I wish them all the best. I’m looking forward to see how the new company manages Saab, as well as the launch of the new 9-5! Long live Saab.
 
#49 ·
Here's a good article today about the situation from the Financial Times:

Last week's signing was supposed to cement a provisional pact struck with GM in June but it quickly became clear that serious hurdles remain.
The agreement is subject to a €400m-€500m loan yet to be agreed with the European Union-backed European Investment Bank, guaranteed by the Swedish government. And Mr Koenigsegg appealed for further government support to plug an additional €300m shortfall.
This request was rejected by Sweden's centre-right government, which has been more reluctant than other countries to support its domestic car industry.
Fredrik Reinfeldt, prime minister, said the state would not act as "venture capitalist".
Mr Koenigsegg voiced confidence that financing would eventually be secured, perhaps calculating that Sweden would not allow the collapse of a deal to save one of its most cherished brands and thousands of jobs.
But doubts over funding have increased scrutiny of the consortium behind the bid.
While Mr Koenigsegg provides a Swedish public face for the deal, much of the backing is foreign.
Partners include Baard Eker, a Norwegian entrepreneur and former world speedboat champion, who owns about half of Koenigsegg, and Augie Fabela, co-founder of VimpelCom, the Russian telecommunications operator.
 
#52 ·
Interesting story looking at GM's orphaned brands from the Pittsburgh Post-Gazette.

Saab
Analysts agree Saab, whose July sales were down 71.7 percent from the same period last year with 570 sold, has one major problem: identity.
"Saab has a challenge: How do they distinguish themselves and create a unique buying proposition when there's 13 brands that they are competing with?" asked Detroit-based independent auto analyst Tom Libby. "They need to have something unique that's not shared by Volvo, Audi, Acura or anybody else."
The first step for Saab is ridding itself of its connections to GM, analysts say. When GM took over the brand years ago, Saab loyalists were livid. Even today they point to quality control woes, a dilution of the brand's identity and styling that was mediocre at best.
On the bright side, "we still see people shopping Saab and that's good," said Brian Gluckman, manager of media relations with Autotrader.com.
"The data seems to be showing that if they can re-establish themselves and put themselves out there, they'll do fine. I think the company is getting back to the Swedish sensibility that defines the brand," he said.
Still, it's make-or-break time for Saab, analysts say. The company has a mere sliver of the market, between 0.1 percent and 0.2 percent, said Mr. Libby. "Unless they can find unique buying proposition in the crowded luxury marketplace, they will not grow."
 
#53 ·
Huh, interesting...from Reuters via the New York Times:

- Swedish luxury car maker Koenigsegg Group could pull out of its planned purchase of Saab Automobile from General Motors <GM.UL> unless steps to secure loans are in place by Wednesday, a part owner told a newspaper on Saturday.
Norwegian businessman Bard Eker, who owns part of Koenigsegg through his holding company, told Dagens Industri that progress was needed on the billions of crowns of loans from the European Investment Bank (EIB) that Koenigsegg needs to finalise the Saab deal.
"If everything is not in place before Wednesday we are out. We give up," Eker was quoted as saying by the Swedish business daily.
 
#57 ·
Or maybe it's a game of bad cop-good cop. From Reuters via the Washington Post:

Koenigsegg's top executive said on Saturday the luxury sport scar maker still aimed to finalize a deal to buy Saab Automobile from General Motors <GM.UL> by the end of October. Koenigsegg Chief Executive and part owner Christian von Koenigsegg also told Reuters that good progress was being made in talks to secure Swedish state guarantees for billions of crowns of loans from the European Investment Bank (EIB).
"Our deadline for the deal still remains the end of October as we have previously said," he said.
 
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