Currently reading: GM delays Saab decision
Four bidders emerge for Saab; GM's board to meet tomorrow

GM has announced it will delay a board meeting to decide Saab's fate until tomorrow, after it received four last-gasp bids for the Swedish car maker.

GM's board was due to meet today, but postponed its gathering to give it time to mull over the offers. Sources also indicated that, although the board will meet tomorrow, it may not make a final decision on Saab's fate.

Reports suggest the 24 hour delay may have been imposed to give Spyker more time to raise finance for its purchase.

Spyker, the most prominent bidder, is believed to have submitted an improved offer, while two unknown Swedish group are also expected to submit bids.

In addition, Genii Capital, a Luxembourg-based private investment firm, has informed the Swedish government that it intends to submit a bid for Saab. Genii recently took a 75 per cent stake in the Renault F1 team.

“It is a true opportunity and we’re surprised that more investors haven’t identified this opportunity,” a Genii spokesman said. He added that Luxembourg-based Genii “loves brands and Saab is a strong brand on the same level as Porsche and BMW.”

Reports suggest Genii's bid is based on the same business plan as submitted by original bidder Koenigsegg.

GM CEO Ed Whitacre said earlier that he didn’t expect a deal for Saab to be completed. “Just show up with the money and you can have it [Saab], but nobody's showing up with the money,” he said. “I think we've done everything humanly possible.”

Keep checking autocar.co.uk tonight and tomorrow for the latest news on the future of Saab.

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supermanuel 19 January 2010

Re: Saab deadline looms

JezyG wrote:
But has been plagued with reliability issues surrounding EGR valve and flywheel sadly we have suffered both and at low rev's it does not pick up as well as some of the newer CR engines.

Good to know.

JezyG 19 January 2010

Re: Saab deadline looms

supermanuel wrote:

JezyG wrote:
Everything is ok about the car apart from the engine which sadly is a bit of a dog, a not very well developed GM/Fiat lump JTD/CDTi/TiD.

I thought that particular engine was supposed to be fairly good? My friend has a 55 1.9TiD with 120k miles on it and it is still very smooth.

As an engine to drive it is ok and once on the move quite smooth but has been surpassed by newer engines it replaced the 2 litre 123 Bhp DTi engine in 2004 I believe. But has been plagued with reliability issues surrounding EGR valve and flywheel sadly we have suffered both and at low rev's it does not pick up as well as some of the newer CR engines.

supermanuel 19 January 2010

Re: Saab deadline looms

JezyG wrote:
Everything is ok about the car apart from the engine which sadly is a bit of a dog, a not very well developed GM/Fiat lump JTD/CDTi/TiD.

I thought that particular engine was supposed to be fairly good? My friend has a 55 1.9TiD with 120k miles on it and it is still very smooth.