il3ana: Saab 9-5

Showing posts with label Saab 9-5. Show all posts

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.

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".

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.

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.

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.

Saab is back in the business of making cars again -at least for now- almost two months after production came to a halt on April 6 when the company’s suppliers stopped deliveries of parts in protest over unpaid bills. The Swedish company was able to restart production after receiving €30 million (US$42.8 million) in advance on a deal it has signed with Chinese car distributor Pang Da Automobile.

The China company’s CEO, Mr. Pang Qinghua, visited the Trollhättan factory today together with CEO and Chairman of Saab Automobile, Victor Muller, and witnessed the first vehicle to roll off the assembly line. Saab said around 100 cars were built today but plans to “increase the daily production rate in the coming weeks in parallel with the full re-establishment of the supply chain”.

Saab is in trouble. With mounting debts and limited capital investment, the Swedish company is a prime candidate to go the way of the dinosaurs. The troubled automaker has not built a single vehicle since the 1st of April, and a much touted deal with China’s Hawtai Motor Group has fallen through. They did however sign a Memorandum of Understanding (MoU) with another Chinese company called Pang Da Automobile Trade Co. Ltd, earlier this week, but we will have to wait and see if the deal goes through.

In light of this, I’ve thought up four plausible (though unlikely) scenarios for Saab. These range from the hugely cynical all the way to the brazenly optimistic. After all, isn’t it better than Saab has some future rather than no future at all? Without further ado, here are your options:

When they are not trying to save Saab or put down anyone who dares express a different opinion or even report the news about the Swedish automaker and its people (I’m referring to this article where the author forgot to mention Muller’s quote on the safety of Chinese cars, and which we wrote about here), the guys over Saabsunited get to spend some time at their favorite brand’s Trollhattan factory.

In this video, the Saab-loving crew were given the chance to get a first view of the new 9-5 saloon police interceptor as it was being prepared, and which is said to receive its initial public outing this weekend. Follow the jump to watch the clip.

The Swedish government offered Saab conditional backing for a deal to free up cash for the company (see previous story here), whose production lines have been stopped for two weeks as Saab didn't pay suppliers. "We have decided to allow the Debt Office to conclude an agreement with Saab," said enterprise minister Maud Olofsson during a news conference on Friday.

The government has approved a proposal from the Debt Office to allow Saab to sell real estate, including the production plant, to Russian financier Vladimir Antonov and then lease it back from him. The minister said this deal would bring €30 million to Saab in the first phase, although the real estate was worth much more than that.

Saab just can't seem to catch a break. After moving from the General's formerly overcrowded pocket into the hands of Spyker, the once-quirky brand is now doing all it can to bring production back online after failing to pay suppliers.

The gist is this: Saab received 400 million Euros (~$580 million) from the European Investment Bank so it could keep on ticking. Sweden guaranteed the loan, meaning whatever Spyker's resolution calls for must get the go-ahead from the Man.

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.

Hat tip to Torben for the drawings!

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Saab's All-New 9-5 SportCombi to Debut at Geneva Motor Show

We've been fielding rumors of an estate version of the all-new Saab 9-5 series for some quite time now, but today, the Swedish automaker made it official announcing that the world premiere of the SportsCombi will take place at the 2011 Geneva Motor Show in March.

"The launch of the 9-5 SportCombi is a much-awaited next step in the roll-out of our new product offensive," said Saab Automobile CEO Jan Ake Jonsson. "It will take Saab back into the large wagon segment where we have established a strong presence in many key markets with our previous offering."

While Saab is keeping official photos out of sight for now, it did release some preliminary details on the 9-5 SportsCombi. According to the Swedes, the premium estate model will come equipped with many practical features. These include an adaptable multi-fold floor, flexible U-rail load space configuration and under-floor stowage with a sealed wet storage compartment, a programmable powered tailgate, and 60/40 split rear seatbacks that fold down almost completely flat without having to reposition the seat squab or remove the head restraints.

Turbo engines, Saab's XWD all-wheel-drive system and an array of features such as, adaptive cruise control, Bi-Xenon adaptive lighting, key-less entry and starting, tri-zone air conditioning and a Pilot Head-up Display which projects information on the windshield, will also be available.

Saab said the 9-5 SportCombi will arrive in the US in the Fall of 2011.

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Saab to Offer Hirsch Performance Products for 9-3 and 9-5 Models in the USA

Current and future Saab owners in the U.S. looking to tune their cars with factory approved upgrades will be happy to learn the Swedish automaker announced today that Hirsch Performance aftermarket products will be available for its 2007-11MY 9-3 and 2010-11MY 9-5 cars through select Saab dealers in the States starting in spring 2011.

The Switzerland-based tuning firm has a longstanding relationship with Saab and already offers dealer-installed performance upgrades in other parts of the world including Europe.

Hirsch Performance's aftermarket offerings include a variety of products ranging from software tweaks that boost output by 30HP and sports springs, to comprehensive aero kits with carbon fiber parts, alloy wheels and interior appointments such as aluminum pedals, leather sets and carbon trims.

John Anderson, director of aftermarket sales and new business for Saab Cars North America, commented:

"Saab has had a long relationship with Hirsch in Europe and now we can offer performance enhancements for Saab customers' vehicles in the US. The advantage to Hirsch Performance parts is they are installed at authorized Saab dealers, do not affect the warranty or emission system performance of the vehicle and are high quality systems designed especially for Saab cars. Installation of the Hirsch Performance parts within 60 days of sale of the new vehicle will give the consumer the same warranty as a new vehicle, an advantage for our customers."

Saab said pricing information and participating dealers for the Hirsch Performance parts will be available on the firm's US website in the near future.

*All photos are from Hirsch Performance's European lineup

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