Showing posts with label Saab. Show all posts
Showing posts with label Saab. Show all posts

Friday, July 15, 2011

New Saab 9-4X SUV Arrives in the US, First Model Delivered in Ohio


Saab is still trying to work through its problems, but the Swedish carmaker has some good news from the States. The first examples of the firm’s new crossover, the Cadillac SRX-based 9-4X, have just arrived at US showrooms.
“Our first vehicles are just hitting retailers and our first customer sale took place last weekend at Saab North Olmstead in Cleveland, Ohio” said President and COO of Saab Cars North America, Tim Colbeck.

Wednesday, July 6, 2011

EIB Approves Lease of Saab’s Real Estate


The European Investment Bank has finally approved the lease of 50.1% of Saab Automobile’s property to a Swedish Consortium led by Hemfrosa Fastigheter AB for a period of 15 years. The deal is expected to net Saab Automobile 25 million Euros ($41 million).

Tuesday, July 5, 2011

Saab Finalizes Deal with Panga Da and Youngman, Announces New 9-1, 9-6X and 9-7


Saab’s parent company Swedish Automobile NV said on Monday it converted the non-binding memorandum of understanding with Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co into a final agreement. However, the deal is still subject to regulatory approval from Chinese and Swedish authorities as well as the European Investment Bank.
In addition to the above agreement, Saab announced the formation of a Sweden-based joint venture company between itself and Youngman called NPJV, which will focus on the development of three new product models.

Wednesday, June 29, 2011

More Good News for Saab as Swedes Receive €25 Million Loan


Another day, another new story for Svenska Aeroplan Aktiebolaget –or, as you might know it, Saab. The Swedish company announced on Wednesday that it has entered a €25 million convertible bridge loan from Gemini Investment Fund Limited.
The loan’s annual interest is 10% and the conversion price is €1.38 per share, while Saab can at any time repay the loan, presumably when the expected Pang Da and Youngman Lotus funding is received, without a penalty.

2011 Saab 9-5 2.0T Premium - Short Take Road Test

Saab’s best deal may be a limited-time offer.

2011 Saab 9-5 2.0T Premium


It was just last year that GM shoved Saab off its headquarters’ roof. As the Swedish brand plummeted to its demise, a bird, er, a plane—no, Spyker swooped in and saved it, thus putting Spyker into free-fall. Quite a shame, really, because the 9-5 sedan is by far Saab’s best product in recent memory.
At the bottom of the 9-5 range is this front-drive model powered by a 2.0-liter four with direct injection and a twin-scroll turbocharger. It’s not nearly as quick as the uplevel all-wheel-drive V-6 turbo model—6.3 seconds to 60 mph [C/D, December 2010]—and it loses an ounce of exterior flair without the top-trim Aero’s optional 19-inch wheels, but its competent dynamics and roughly 10-grand-cheaper point of entry make it the deal of the lineup.
The little four delivers its 220 horsepower and 258 pound-feet of torque through a six-speed automatic, resulting in a ho-hum 0-to-60 time of 7.9 seconds. Once moving, though, the 2.0T has no trouble hustling its 3886-pound load through passing maneuvers. The quarter-mile arrives in 16 seconds flat at 90 mph, but those looking to eke out a bit more performance have the option of filling up with E85. Saab claims no change in output with the higher-octane corn juice, but we saw an improvement of 0.2 second to 60 mph and a 0.1-second-quicker quarter-mile. Efficiency is the penalty here; we observed 17 mpg with E85 and 22 overall with gas. The EPA ratings are 18 mpg city and 28 highway (with gasoline).
From the helm, the steering is playful, but the level of  feedback doesn’t quite match the surprising athleticism provided by the strut layout up front and the multilink setup in back. The flat cornering, though, comes at the cost of a stiff ride. While the brake pedal on our test car was spongy, the car stopped from 70 mph in a commendable 166 feet.
The 9-5’s tailored sheetmetal, approachable price, and roomy cabin provide an attractive way to enter the premium segment. But with the company’s small dealer network and financial issues, Saab needs a superhero to swoop in once again.
Source : Caranddriver.com

Tuesday, June 28, 2011

Saab Secures Further Funding by Leasing its Property


Another day, another chapter in the ongoing saga that is the survival of Saab. After yesterday’s order from a (yet unnamed) Chinese company, which temporarily solved its cash-flow problem, today the automaker announced that it has reached an agreement with a consortium of Swedish real investors led by Hemfosa Fastigheter AB, for the sale of 50.1% of Saab Property for a period of 15 years.

Monday, June 27, 2011

New Chinese Order Provides Saab with a Temporary Lifeline


Maybe the future of Saab isn’t as dark as it looks, and the voluntary bankruptcy proposed by suppliers isn’t the only solution. Well, at least for now. That’s because the Swedish automaker announced today that an unnamed Chinese company place an order to buy 582 cars, with a total value of € 13 million.
The pre-payment is to be received this week, giving Saab a much needed funding to pay its workers and suppliers. This, however, is only a short-term lifeline for the ailing company and the efforts to secure funds that will guarantee the brand’s future and restart production, which has been halted again since June 8, are ongoing.

Thursday, June 23, 2011

Saab Says it Can’t Pay Workers, Company’s Survival in Doubt


New clouds are forming over Saab as the automaker’s parent company, Swedish Automobile N.V., formerly known as Spyker Cars N.V., said on Thursday it will be unable to pay its 3,800 employees their wages because it has not yet obtained the necessary short-term funding.
Swedish Automobile said it and Saab “are in discussions with various parties” to secure short-term funding, including through a sale and lease-back of Saab’s real estate assets.

Monday, June 20, 2011

Saab Production on Hold for at least Two More Weeks


Ailing Swedish car manufacturer Saab will not be producing new vehicles for at least two more weeks until it resolves the problems with its suppliers, the company said on Monday.
"There will be no normal production during weeks 25 and 26 (June 20th-July 3rd)," Saab spokeswoman Gunilla Gustavs told Reuters. "We are still negotiating with all suppliers and we need to get everyone on board at the same time. The weeks of 27-29 (July 4th-24th) are planned to be normal working weeks".

Thursday, June 16, 2011

Saab UK Announces 2012 9-5 Sedan and SportWagon Amidst Production Halt


If there was ever an award for bad timing, Saab’s UK division would probably be a front-runner this month. You see, there is something fundamentally wrong with announcing pricing and details on a new product when its production has been suspended (even if, as Saab claims, proves to be temporary, in which case, why not wait?).
In any case and with Saab’s future depending on deals that still need to be approved from Swedish, European and Chinese officials, the company gave out UK pricing information on the 2012 model year 9-5 range, which benefits from the introduction of the SportWagon and a series of enhancements, including additional features and further reduced CO2 emissions for all engines.

Saab UK Announces 2012 9-5 Sedan and SportWagon Amidst Production Halt


If there was ever an award for bad timing, Saab’s UK division would probably be a front-runner this month. You see, there is something fundamentally wrong with announcing pricing and details on a new product when its production has been suspended (even if, as Saab claims, proves to be temporary, in which case, why not wait?).

In any case and with Saab’s future depending on deals that still need to be approved from Swedish, European and Chinese officials, the company gave out UK pricing information on the 2012 model year 9-5 range, which benefits from the introduction of the SportWagon and a series of enhancements, including additional features and further reduced CO2 emissions for all engines.

Read more »

Wednesday, June 15, 2011

Vladimir Antonov Withdraws Proposal to Buy and Leaseback Saab Property


The ink has barely dried on Saab’s latest attempt to form a preliminary deal with China’s Pang Da Automobile and Youngman, and the Swedish company is faced with yet another problem as Russian investor Vladimir Antonov has withdrawn his proposal to buy and leaseback Saab property.
"The property sale is now being discussed with external investors," said Lars Carlstrom, Antonov's representative in Sweden. However, Carlstrom noted that the Russian banker was still interested in becoming a shareholder in Saab’s parent company Spyker Cars NV.

Saab Releases First Official Photo of 2011 9-5 SportCombi


Following a preliminary release earlier today, Saab has issued the first official photograph of its 9-5 SportCombi. The estate version of the 9-5, which will carry the SportWagon moniker in certain markets including the UK, will get its public debut at the Geneva Motor Show in March.
Saab has not yet released detailed information on the engine lineup, but buyers should expect to see a similar mix of turbocharged diesel and gasoline motors (depending on the market of course) to the sedan variant when it arrives in the market this Fall.
For the time being we only have a single official picture of the 9-5 SportCombi / SportWagon, but Carscoop reader Torben just sent in several renderings of the car sourced from the patent drawings filled in the U.S., which you can check out after the jump.

Tuesday, June 14, 2011

Vladimir Antonov Withdraws Proposal to Buy and Leaseback Saab Property


The ink has barely dried on Saab’s latest attempt to form a preliminary deal with China’s Pang Da Automobile and Youngman, and the Swedish company is faced with yet another problem as Russian investor Vladimir Antonov has withdrawn his proposal to buy and leaseback Saab property.

"The property sale is now being discussed with external investors," said Lars Carlstrom, Antonov's representative in Sweden. However, Carlstrom noted that the Russian banker was still interested in becoming a shareholder in Saab’s parent company Spyker Cars NV.

Read more »

Monday, June 13, 2011

Saab Signs Three-Way Deal with China’s Pang Da and Zhejiang Youngman Lotus Automobile


Lately, it seems whenever there’s a problem with production at Saab’s Trollhattan plant, the Swedish automaker’s parent company Spyker Cars N.V. announces a new deal with a Chinese company.
Today, Spyker signed a non-binding memorandum of understanding (MOU) with two Chinese firms, Pang Da Automobile Trade Co., Ltd (Pang Da) and Zhejiang Youngman Lotus Automobile Co., Ltd. (Youngman), which if approved by regulators, could see the company falling into the control of Chinese hands. We'll remind you that Saab had previously signed a deal Chinese firm Hawtai but it failed to go through Chinese regulators.

Saab Signs Three-Way Deal with China’s Pang Da and Zhejiang Youngman Lotus Automobile


Lately, it seems whenever there’s a problem with production at Saab’s Trollhattan plant, the Swedish automaker’s parent company Spyker Cars N.V. announces a new deal with a Chinese company.

Today, Spyker signed a non-binding memorandum of understanding (MOU) with two Chinese firms, Pang Da Automobile Trade Co., Ltd (Pang Da) and Zhejiang Youngman Lotus Automobile Co., Ltd. (Youngman), which if approved by regulators, could see the company falling into the control of Chinese hands. We'll remind you that Saab had previously signed a deal Chinese firm Hawtai but it failed to go through Chinese regulators.

Read more »

Friday, June 10, 2011

Coffee and Cars: Eric Leong’s Saab Nespresso Concept


Industrial design student Eric Leong, who we first heard about with the 2015 Toyota Prius study, has taken two famous brands, Sweden’s Saab and Switzerland’s Nestlé and melded them. The result is the Saab Nespresso Concept, a four-seat sport coupe with some clever design touches. Outwardly it looks like a cross between the 2008 Saab 9-X Air BioHybrid Concept and Toyota’s FT-86 Concept of 2009, but it’s on the detail side of things were Leong’s idea really shines. Read more »

Thursday, June 9, 2011

Saab Temporarily Suspends Production Again while it Seeks Parts


The on-off production drama over at Saab’s Trollhättan facility in Sweden continues as the troubled automaker said Wednesday that it temporarily halted production due to a lack of components from its suppliers only two weeks after resuming making cars following a seven-week shutdown.

Saab said that it anticipated production hiccups in the start-up phase, as the supply chain still is not fully operational with some suppliers holding back until they get paid and others trying to re-stock.

Read more »

Sunday, June 5, 2011

This is what Happens when a Limousine, Convertible and Yacht Meet


In today's highly competitive auto market, one would think there are no new niches left to explore. Well, it's pretty true, except for imaginative individuals like the crew from Sweden’s Gray Design, which also penned the Saab supercar.

Enter the world of the Strand Craft Limousine Beach Cruiser, a vehicle that looks like a crossover between a limousine, a convertible and a yacht – yes, you read correctly, a yacht. Essentially a beach shuttle, the Stand Craft has been conceived for luxury hotel chains willing to offer their clients premium service. More specifically, to carry six passengers from the hotel to the nearest beach as fast and as comfortable as possible.

Read more »

Wednesday, June 1, 2011

China’s Pang Da Places a New €15 Million Order for Saab Vehicles


Chinese distributor Pang Da Automobile is pumping more cash into Spyker NV's ailing Swedish unit Saab by placing a new order for 630 vehicles valued at €15 million or US$21.5 million. This latest order comes after an earlier one last week for 1,300 cars worth €30 million (US$43.2 million) and is part of a broader deal in which Pang Da agreed to buy a 24 percent stake in Saab’s parent company Spyker for €65 million (US$93.5 million).

The Swedish automaker said that as with the first order, Pang Da will pay the additional €15 million order up front with the funds expected to be received by the end of this week. Delivery of the vehicles ordered by Pang Da will start in the fall of this year.

Read more »