Press Release: Saab GB Files For Administration

Trollhättan, Sweden: Swedish Automobile N.V. (Swan) and Saab Automobile AB (Saab Automobile) announce that Saab Great Britain Ltd (Saab GB) filed for administration with the High Court in London today.

The board of Saab GB is of the opinion that administration gives the company and creditors the necessary legal protection until the required funding for the company has been secured. The appointment of the administrator is effected by the directors of Saab GB. Once appointed, the administrator will take on the management powers of the directors.

Swan received a conditional funding commitment from Youngman for the payment of the wages of the employees of Saab Automobile and for the continuation of the activities of Saab GB. Saab Automobile and Saab GB have not yet received this funding.

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25 Comments

  1. I’m sorry, but this really does feel like the beginning of the end.   Talking to my local Saab dealer this morning, they have zero hope for the future and are just counting the days until final wind up.   So, so sad…. 🙁

    Can you give us ANY hope at all Steven?…..

  2. “Let Saab Go” should be a campaign to finally let the brand slip into bankruptcy and give up.  There is no way out, no magic solution, no Phoenix to rise from the ashes.  The Chinese companies are not playing fair, as demonstrated by no funding forthcoming.  Saab have not built a car for months.  The damage to the brand is complete.  The Swedish government are not interested in the future of the Saab car manufacturer.  Time to accept it and let everybody involved move on.

    1. Absolutely not.  100% ironclad guarantee that people involved here will not give up as you suggest.

      If this brand goes, there will not be a Mini-style resurrection of the company name and a fairytale ending.  It will be gone for good.  And there are too many people involved with this company who are determined that that won’t happen.  We won’t go until the last option is exhausted.

      Confidence is down for Saab at the moment, for obvious reasons.  And it’ll be a long road back.  But it’s never impossible and the one way to ensure ourselves of certain extinction is to give up.

      1. Whilst I salute your obvious commitment Steven and agree with your assertion that there will not be a Mini-style resurrection and the company will be gone for good, I do not think it will be down to whether people in Trollhatten give up or not, the decision will be out of their hands.  There are simple financial facts looming large which cannot be ignored forever.  Saab are a car company that has not built a car for most of 2011, if we exclude the ones that the much maligned GM built for them in Mexico.  A car company that does not build cars and shows no signs of imminently building any is not going to do very well.  This is the elephant in the room.

        My posts may come across as gloating but I am a Saab fan who has loved all but one Saab I have driven, despite the faults.  However, I do believe that it would be fairer to all involved if the emphasis moved from “how can we save our non-car building car company?” to “how can we wind this down with the best outcomes for loyal Saab employees?”  Saab employees have given their all but they will have to move on to seek employment in a post-Saab world and should be assisted in doing so by the company they have long-supported.  That goes for staff at the factory in Sweden but also throughout the dealership and support network around the world..

        1. We are under no illusions, believe me.  The decision may well be taken out of our hands.  No-one disputes that.  My only contention was with the notion of giving up.  There are still solutions available if the parties can agree and no-one’s going to give up whilst that’s the case, unless it’s taken out of our hands.

      2. My truest hope is that those who may be buying Saab hear your words and recognize how long a road it’s really going to be and are (this time) ready to fund that road, without the rosy projections that really got us in this mess in the first place…

  3. “The product is good”.  I read this frequently from Saab supporters and I myself was a supporter for a long while.  I love my 93 convertible, despite the trials of faith it gives me.  

    Their cars are superb when they work but too many models have had problems that have not been tackled by the company but which are very common, such as range/neutral safety switches on their automatics failing, the SIDS displays etc.  In many markets, they are expensive to repair or replace.  The failure of the company to deal with these over the years led to an erosion of confidence and a preference on the part of buyers to head to alternative models in a similar price range.  Saab tried to price themselves up to BMW, Audi, Mercedes but did not have the quality to match.  PItched at the VW level may have offered greater success.

    I will be getting rid of my 93 within the next 12 months because spending 50% of its market value per year keeping it on the road is not sustainable.  I will miss it, but at the end of the day it’s just a car and sadly not good enough.  Much like the company.

        1. My 2008 9-3 as pictured is also in great shape. The 2005 and 2006 9-3s on the street in Lubbock look great. Maybe it’s our local dealer or our weather. When I start thinking about new cars, I just get my 9-3 a car wash. My 9-3 looks as good as anything on the new car lots. Maybe you should start thinking of your Saab as a piece of Art. Just a thought.

          1. I did for a while.  I drew up a list of things that I would do as a progressive replacement programme to keep it fresh and running well, including even thinking about replacing the driver’s seat which is slightly worn.  However, the ‘surprise’ crucial failures that keep cropping up, and the cost to rectify them, are making it harder to keep the faith and passion and my interest is moving towards a non-automotive project instead.

    1. I ran into another Saab owner at a gas station today.  We both LOVE our cars. 
      It’s outstanding that complete strangers share such a strong bond for a brand we love and are committed to.

      We both hope the Saab re-org goes well.

  4. I expect everything will be behind us by next Years SOC. Swade if your there you can take my car out for a test drive on the AutoX course (If you are there and if there is a AutoX Course) haha.

     

  5. Well, I for one am still not going to accept that no deal for Saab cannot be struck. If partial Chinese ownership in combination with European ownership can happen, then it must. GM have to allow Saab to survive. The Chinese duo must be happy with an initial partial stake in Saab. There has to be some European based investment interest. As Swade keeps on reiterating, and I absolutely agree with him, Saab’s products, heritage and prospects for a future are just too damn great to be allowed to die! The Swedish Government should be utterly ashamed of itself. Come on! I want to see my New 95 estate on my driveway. I will be ever so proud! Don’t let the   most inspiring car company, that has many incredible things still to do, disappear. 

  6. As a rider to my previous post, having just watched VM on Swedish TV, the thought occurs as to why GM doesn’t re-think its position on Saab. Surely it can see that there is a profitable future for Saab. With all the support shown over the last year and a half by Saab fans across the world. No other car company has this passionate following and loyalty. GM you are making a big mistake! The writers of automobile history will not be kind to you. GM, you can save Saab on your own!

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