Just heard this from Radio 2.

I really like Saabs, really like the 900 (not the GM, but the gOOSE).

Seriously though, it has filed for bankruptcy 2 times over the last 2 years. Is it going to last? The latest 9-5 looks nice, but is over priced!

Over priced and not that pretty.

GM killed its reputation for simply being an over priced (insert country specific GM car name) under a saab shell.

They have no models in development, so worthless to buy the company.

I thought there was a new 9-3 in development? Shame as I quite like the latest 9-5, even though it looks a tad American!

I thought there was a new 9-3 in development? Shame as I quite like the latest 9-5, even though it looks a tad American!

I think Spyker promised one, but lack of funds meant nothing more than drawings will exist at best.

GM only left the 9-5 as it was so close to launch and was the only value in the firm. Hard to see any big brand buying or any reason too. Safety pioneered by Volvo and Saab is now standard fit and most now have better systems than these 2 had as stand alones.

IIRC and saab does fold, doesnt the auto name get handed back to Saab aero again by default?

Looks like they have given themselves 3 months to get a new source of funding...

Saab Automobile AB Files For Voluntary Reorganization, Saab Automobile Parts AB And Overseas Subsidiaries Excluded

http://newsroom.saab.com/news/news/saabautomobileabfilesforvoluntaryreorganization.5.6b70d8f7131ef59e7497ffe58.html

But that is the main company and not subsidiaries.

Reorganisation proposal not accepted by the court - no realistic plans how to handle cash deficit.

Victor Mueller will appeal... he'll need more than a lot of words, though.

Swedish Business/Industry minister and union reps are 'surprised'. I'm not.

1) not a single car built in five months

2) wages delayed in June, July, August (last payday was Aug 25, not paid yet)

3) outstanding debts to suppliers > £10.000.000

4) > 1.000 cars pre-paid by Chinese dealer chain 'Pang Da' but no cars in stock

5) various debts, e.g. to Russian tycoon Antonov, > £ 50.000.000

6) Real estate (factory buildings &c) already sold (in order to pay July wages)

Mueller's only hope is letters of intent from the above mentioned Pang Da and car factory Youngman to invest in Saab. But those deals are not approved by the Chinese government yet and that can take months... and the govt. may say no.