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Saab is aiming to become “fully independent” this year, and it could achieve its goal within the next six months.

Following a meeting yesterday with Swedish unions, Saab managing director Jan Ake Jonnson said, “We explored, and will continue to explore, all available options for funding and/or selling Saab and it was determined that a formal reorganisation would be the best way to create a truly independent entity that is ready for investment.”

Owner General Motors wants to divest ...Read the full article

The Swedes are really good when it comes to restructuring like this.  Look at their handling of the financial crisis in the 90's and you will see just how good they are.  The rest of the world is now looking towards the "Swedish Model" that came out of that crisis to solve the current problems.  Although the government have said they don't wish to get involved, I believe they will be presented with a thorough well thought through restructuring that will see them invest somewhat in the company.  I think the British based Auto companies should take note.

GM's less than tender mercies are clear for all to see. If HMG wants to keep Ellesmere Port open then its going to have to come up with some major incentives for doing so. On the plus side, this does mean that there is at least a chance that future Saabs will be built around the brand's traditional priorities, rather than a pie-chart presentation given by some mid-ranking marketing exec in Detroit.

GM want rid of SAAB.

GM want substantial subsidies / ownership of Vauxhall / Opel from Germany.

Why don't GM just cast off both GME and SAAB, and why don't the European government pick up the running and subsidising of the company?  After all, what is the European Union / government all about?  Instead of ploughing all its money if to BS laws, rules and regulations, is it not time they did something constructive for Europe?

TegTypeR:

Why don't GM just cast off both GME and SAAB, and why don't the European government pick up the running and subsidising of the company?  After all, what is the European Union / government all about?  Instead of ploughing all its money if to BS laws, rules and regulations, is it not time they did something constructive for Europe?

Well said mate. But the EU project isn't about coherent industrial policy, it's about control. It's staffed by flaky bureaucrats and not entrepreneurs. All its instincts are control, control and lowest common denominator homogenisation of disparate, millennia old European cultures, from Celts to Turks. The EU isn't about wealth generation it's about wealth taxing and money for its elite officials. Consider the EU Competition Commissioner, Neeile Kroes, rather than taking the Yanks to task for their overtly protectionist, illegal trade policies she is attacking a cornerstone of the wealth creation of its largest member economy, Volkswagen. She is intent on taking the German government to court over the VW Law and fine them heavily. The EU will be seen for what they are - a tax and control millstone, obliterating national differences - at this time when the European peoples most need them to help stand up for real European interests, jobs and industry.

How on Earth can anyone seriously think, that Saab can survive. In the situation they are, it would be almost impossible even in boom times for it to succeed.

They have no volumes, 75.000 units per annum is nothing. The current line-up is hopelessly aged and uncompetitive, R&D is largely dismantled. And no cash to move the production of the all-important 95 in house. Even if they could, they would need years of continous investment in new models and technologies to regroup as an independent manufacturer. Saab is finished, and not even the Swedish goverment can do anything about it.

@horseandcart

One of the few really good things about the European Commission is that it has been pretty pro-competition in its often very tough enforcement of the European single market - in particular, it is very hot on illegal state aid, and it's this stance that actually gives the UK (and its motor industry) a chance against bastions of protective sentiment like France, Germany and Italy.

In fact, I'd go as far as to say that the best chance of survival for Ellesemere Port post any GM crash is for the European Commission to block the inevitable German Opel-only rescue plan involving lots of state aid that freezes out non-German GME plants.

As for the "Swedish Model" - I think I'd rather have one of those than a Saab.

I keep my fingers crossed... I'm not sure whether any car company bigger than Morgan can survive independent, but let's hope they won't follow the path of Rover.

What makes Saab stand out from the crowd is that it still has massive brand appeal, or even affection, despite blatant GM dismanagement in recent years. But to stress that, I'd love to see a modern version of one of the iconic Saab models, say 99 Turbo, I mean a mild neo-retro model, a rival to BMW 1-series, and the like. What do you think?

Picture courtesy of Channel4.com:

 

 Great. Just when I'm in a position to afford a (2nd hand) saab convertible (in my opinion one of the best looking 4 seat convertibles around), I'm going to have to wait and see if the company will still be around in six months. I think a lot of people in this position are just going to say sod it an spend an extra grand on an audi instead.

 If they don't want to haemorrhage sales / brand loyalty in the next few months I think a few well chosen words about parts availability and continuity may be in order, regardless of what actually happens to the company.

Saab is basically finished, if the Swedes rescue a car company it will be Volvo that Ford wants to dump.  Maybe some Saab Volvo collaberation on development but Sweden and the rest of us don't need two Swedish car companies.

As for Vauxhall, it will be gone if the British Gov't won't give GM any money,  The German gov't will bail out Opel, the german unions are very powerful, so you will be buying Opel's or maybe Australian Vauxhall's if the Aussies give GM money.  Your currency (the pound) is stronger than the euro and the Aussie dollar so it does not make sense for GM to continue to build the car for the UK market only, when it can built the same car in euros for all markets.

Would you adam and eve it. The saving of Saab may come out of... Dresden. Would be appropriate for a phoenix out of the ashes no?:

http://www.rescue-saab.com/

 

frankpcb:

Your currency (the pound) is stronger than the euro and the Aussie dollar so it does not make sense for GM to continue to build the car for the UK market only, when it can built the same car in euros for all markets.

 

The pound strong against the Euro? Haven't you been watching the news lately. The pound is very weak at present and is likely to get weaker if the Bank of England starts "printing money". In theory the weak pound is one of our few advantages when it comes to exporting goods, including Vauxhalls. The problem is people have stopped buying cars worldwide because of lack of credit, weak pound or not.