Anyone want to buy a SAAB?

Friday, 14 October 2011 From Issue Vol. XIX No. 41 By  Dr. Iain Corness

Pity those dealers in the world with a showroom full of SAAB’s.  Ever since General Motors gave the company the flick, it has been in diabolical financial troubles since then.

The company was then allied with the Dutch group Spyker, a company that produces luxury sports cars, but that marriage of convenience did not work, and now Swedish Automobiles (the owner of SAAB) hopes it has sold Spyker to an investment group in the US.

Swedish Automobiles also has tried selling itself to a Russian businessman Vladimir Antonov, but that fell through, but a loan given to SAAB by Antonov needs to be paid - which will be done with the proceeds of the Spyker sale.

In the meantime, SAAB can’t pay its bills, the staff can’t get paid, SAAB is staving off bankruptcy proceedings, and it is also trying to appease the Swedish government, and needs approval for financial dealings from GM, which still holds preferential shares.

So there we have it.  SAAB has always produced solid, dependable motor cars, but right now it would be a brave man that buys one.

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