Poor Saab can’t catch a break. Last week Saab’s European supplier were putting pressure on the Swedish automaker to declare bankruptcy, and this week the car company has pulled out of next months Frankfurt auto show, due to a lack of finances. A Saab spokesperson explained that the car-maker will concentrate its resources on restarting production at...
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Somehow, Saab is still alive, clinging to financial solvency with a tenacious refusal to go gentle into that good night. Some good news in its struggle has emerged, however: the troubled company has raised $5.8 million in a deal with GEM Global Yield Fund Limited, securing its funding for the time being. Saab’s Trollhättan plant...
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It’s an understatement to say that Sebastian Gupta’s parents are proud of him. What started as a summer project in 2010 has become $40,000 that’s been donated to a women’s center. The happy recipient was the Houston Area Women’s Center, and the $40,000 was raised from the sale of a rebuilt 2000 Saab 9-5 the...
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Swedish Automobile, owner of financially-stricken Saab, is being pressured by European suppliers to declare bankruptcy, hoping the threat will pressure the automaker to pay back debts. Saab production came to a halt in April, with suppliers refusing to deliver components because they were not being properly paid. Spanish auto panels maker Matrici S. Coop prepared a bankruptcy request,...
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Typically a Saab news story nowadays is either to do with financial woes or plant shut downs, however, thanks to the company’s recent injection of investor cash, both these issues will be dealt with by the end of August. With plans to move forward, Saab is now talking about the future, with an eye on...
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The Saab 9-6X concept was unveiled six years after being axed. The first pictures of the concept have hit the web and was unveiled at the company’s museum in Trollhättan. The 9-6X was based on the Subaru Tribeca and was slated for production but the vehicle was shelved when GM sold their 20 percent minority stake in Fuji...
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Another week and another episode in the Saab drama is upon us. Now news comes that this ailing Swedish brand has halted production on building any new cars until Aug. 9, 2011. The delay is caused by suppliers, who want Saab to clear its debt with them before they provide any further parts. Saab has...
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Having just signed a deal with two Chinese partners, Saab chief Victor Muller has immediately shown he knows how to work the media. Rather than sit quietly, Muller has already announced plans to build three new models, while a new joint-venture arrangement secures medium-term funding for the production of Saabs current lineup. Two of the...
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Swedish car firm Saab has been in the news much more than even they would have liked to in recent months, mostly because the company seems to be on the verge of bankruptcy on a weekly basis. But while its CEO Victor Muller is looking for the money train to keep the company on track,...
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A used car dealer in New Jersey is trying to make a profit off of John F. Kennedy Jr.’s Saab 900 by selling it for $100,000 on eBay. For those of you that think the price is fitting, a 1994 Saab 900 in excellent condition and low miles typically would sell for about $4,700 on...
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According to an official release by Saab Automobiles, Russian businessman Vladimir Antonov is still very much interested in pour money into the ailing automaker, but was awaiting clearance from the Swedish National Debt Office.
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Union employees working for Saab are growing impatient after the automaker said it could not pay wages to its workers because it had not yet obtained necessary short-term funding. The unions have threatened legal action that could end in bankruptcy for the automaker. The IF Metall and Unionen groups will send a formal demand for payment...
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Saab’s ongoing drama will remain at a standstill for another two weeks. Saab’s Trollhattan factory in Sweden, has not produced vehicles for most of April and May because of issues regarding paying suppliers. The factory bounced back in late May, but was quickly forced to stop production when part supplies ran out yet again. “There will be...
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The drama involving Saab is on-going and doesn’t seem to show any signs of slowing down. It seems every time the company starts production, something will cause the production line to stop, whether its money related or parts supply related, and often both. Saab was hoping to have some stability back in their lives after...
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Saab halted production yesterday at its Trollhattan plant in Sweden after operations were disrupted by problems with supplier deliveries. Saab resumed production on May 27 after shutting down from April to May due to non existent operating capital. Suppliers became worried about receiving payment and stopped supplying the Swedish plant. Saab began a deal with Chinese car distributor Pang Da...
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Saab will finally gain some stability, as the company will resume production tomorrow at its Trollhattan, Sweden, assembly plant. The facility has been idle for about six weeks. Saab’s owner, Dutch automaker Spyker, has been unable to secure the much-needed financing to pay off its suppliers, but the automaker says it has reached agreements that...
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As part of Spyker’s capital-raising efforts for its ailing Saab brand, the Dutch automaker is entering into talks with Chinese automotive company Pang Da, and will have to rename itself as Swedish Automobile N.V. as part of the deal. In return, Saab will get a $42 million cash payment, ostensibly to help pay Saab’s substantial...
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Vladimir Antonov is a man on a mission. Namely, he wants a sweet piece of the pie known as Svenska Aeroplan Aktiebolaget; but the forces that conspire against him include the Swedish government and federal investigators. So you think any support he gets against his powerful foes would be a credit to him, right? But what a long, strange...
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Saab has been surrounded by general corporate uncertainty and financial trouble over the last few weeks. The failed deal with China’s Hawtai Motor and Saab’s $100 million payment mishap with its parts suppliers have taken a toll on the Swedish automaker however the company may have a second chance. Saab announced on Thursday that it...
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Since “All My Children” and “One Life To Live” have been canceled, soap opera fans can turn to Swedish car-firm Saab for their weekly dose of drama. Saab has seen its fair share of ups and downs in the last year and a half. General Motors almost left it for dead when a take-over deal...
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Somewhere, somehow, we think Samuel Hubinette may have something to do with this crazy Viper-powered Saab 9-3. Hubinette, known as “The Crazy Swede” and campaigned a Dodge Viper in many successful bouts of tandem drifting in his days, so it’d only make sense that this Saab 9-3 with a Viper V-10 would have to do...
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Saab appears to have yet again found a savior in China, announcing a joint venture with Pangda Automobile Trade Co., the largest distributor of vehicles in the world’s largest car market. The deal will see Pangda purchase 30 million Euros ($42.5 million) in Saab vehicles, with a second purchase of 15 million Euros ($21 million)...
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It might start to be a real sob story over at Saab, if the Swedish automaker can’t find a partner to help finance operations and help get production restarted. News of a most recent deal with Chinese automaker Great Wall might be little more than a rumor, with the Associated Press now reporting a Great...
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With the apparent collapse of the deal between Hawtai and Spyker, the Dutch parent company of Saab is now courting Chinese automaker Great Wall in an apparent bid to find a partner for the ailing Saab brand. Hawtai was apparently unable to get the necessary approval to complete a transaction with Saab worth 150 million...
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