F1 supremo reported to be part of consortium bidding for car maker
7 January 2010

F1 supremo Bernie Ecclestone is part of consortium tabling a late bid to save Saab.

The billionaire is backing the bid led by the Luxembourg-based investment group Genii Capital, which recently bought 75 per cent of the Renault F1 team.

Ecclestone, said: “It's a good brand that has probably been neglected by the current owners. We don't own it yet, so let's see what happens.”

In a press release, Genii Capital said Saab "has a tremendous brand value in a number of key automotive markets as well as an innovative image" and stressed the importance of "VOIP and GPS location based services" in future Saab models.

Genii is reported to be modelling its business plan on Koenigsegg's effort, which fell apart when finance was not forthcoming.

Koenigsegg had said it would make Saab profitable by 2012 by increasing production to 105,000 vehicles a year.

Spyker has also confirmed it tabled an improved offer for Saab late last night.

Victor Muller, CEO of Spyker Cars said: "We have continued a constructive dialogue with GM over the acquisition of Saab. We believe the Saab brand has lots of potential and would be keen to close a deal as quickly as possible." Two Swedish consortiums are also said to have tabled bids for Saab.

One is headed by Haakan Samuelsson, a 58-year-old Swede who quit as chief executive officer of German engineering and truck manufacturer MAN in November, and Jan Nygren, a former Social Democratic cabinet minister and ex-deputy chief executive of defence material group Saab.

The group's business plan aims to scale down Saab to building 45,000 to 50,000 cars a year, and would not require a loan from the European Investment Bank.

The board of Saab's parent company GM is set to meet on Thursday to discuss the company's future.

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Comments
24

7 January 2010

Well, whatever you might say, it hasn't been a dull process this!!!

7 January 2010

Nah, I'm sure he's set aside all his spare cash (divorce settlement aside) to buy the sorry remains of Donington from the Wheatcrofts. And no, of course he didn't deliberately give Simon Gillett enough rope; what kind of operator would do that?

  • If you want to know about a car, read a forum dedicated to it; that's a real 'long term test' . No manufacturer's warranty, no fleet managers servicing deals, no journalist's name to oil the wheels...

7 January 2010

[quote Autocar]VOIP and GPS location based services[/quote] Yes, that's what I've always felt Saab needed...

8 January 2010

Guys, the US Media is reporting today that it looks like SAAB is done. The consortium doesnt have enough money, etc..... to make the deal.

8 January 2010

[quote HyundaiSmoke]

Guys, the US Media is reporting today that it looks like SAAB is done. The consortium doesnt have enough money, etc..... to make the deal.

[/quote]

I'm surprised to see you back so soon.

8 January 2010

Yeah, Im always around.

Buick has pretty much replaced SAAB in the US and Opel has in Europe,and Foreign sales are not sustainable. SAAB is a regional brand in the US, it does well in coastal States, and Liberal Middle American Cities like: Minneapolis, Dayton, Chicago, Columbus, Atlanta, Cleveland, Memphis, Dallas, and Austin.

8 January 2010

Bernie bids for SAAB and gets his to "Friend" Flav run it.......

Well, SAABS are supposed to be safe in crashes, deliberate or otherwise....

8 January 2010

I can't imagine GM signing a deal where they have to pay Bernie £20million every 2 weeks whilst his ragtag bunch of mates indulge in sado masochistic car crash fantasies. But you never know!

8 January 2010

I'm very surprised no Chinese company has made a bid for Saab.....

If you're talking about it from a strategic perspective, Saab is a much better buy than Rover would have been. On the surface (at least) it developed better fit and finish and technologies on its own than Rover, and in terms of safety its products was on par with both Volvo and Mercedes in terms of similar levels of design and engineering. If was introduced as a brand in China, I'm sure it would appeal to a number of people a whole lot better than their domestic brands.

Save Saab somebody....it would be a shame to have it 'thrown away' like it seems to have now.

8 January 2010

Can someone explain the context to the photo of Bernie?

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