We at Saab intend to survive

Yesterday the newspapers had stories of impending doom, predicting a bankruptcy filing by Saab some time later that day. This journey we’re on is quite literally hour-by-hour at the moment, so I’m sure there were reasons for the papers to believe that the story was feasible at some point. But please don’t believe for a moment that anyone here at Saab wants to throw in the towel.

As you’ve seen via today’s news, our Chinese partners, Youngman, have transferred some funds to our accounts to help us fulfil some of our obligations. We are still working on securing vital funding needed to pay staff wages and continue with the reorganisation process, a process that we will petition for the continuation of this week.

Our discussions with our partners and stakeholders continue and our executive team are still working around the clock to see this company survive and continue into the future. We know that if we can clear the obstacles immediately in our path, that we have the people and the product to succeed. Clearing those obstacles is what we’re working on right now.

As always, thanks for your support. We know it’s been a roller-coaster and it may continue that way for a little while yet. But please know that we’re determined to succeed, and as you can see from the payment received today, we have supportive partners working with us to make sure we have the best chance possible to do so.

You may also like

19 Comments

  1. Throughout the entire GM-scrapping/selling-Saab story I’ve quoted Winston Churchill many times and I’ll do it yet again:
    “You can always count on Americans to do the right thing – after they’ve tried everything else.”

    But this cat & mouse game has been played well past its due date now.
    Although Saab most definitely has the knowledge, its credibility as a company is being chewn away with every day that passes.

    It’s almost as if GM’s “We are closing Saab, we’re winding it down” statement still stands.
    Make up your mind guys. And that ALSO goes for our Chinese friends !

    1. It took Belgium 540 days to find a government. And finally, when ultimate doom was around the corner, we found one within a week.
      So yes, the implausible remains possible. Let’s hope a solution for Saab arrives a bit faster 🙂

      “-You can’t just turn on creativity like a faucet. You have to be in the right mood.
      -What mood is that?
      -Last-minute panic.”
      Calvin & Hobbes

    2. Bart:  I think we in the U.S. get more things right than we do wrong!  But you make a good point about GM.  Personally, I think they should have folded Saturn into Saab and kept the Saab franchise.  GM had no imagination or common business sense—-they had no ability to think outside the box.  They became followers instead of leaders.  If they folded Saturn into Saab, the small Opel Saturn could have been a 9-1 or 9-2.  The Sky sports car could have been the Sonnet.  They would have had more dealers in better places—-an immediate broadened product line for Saab—-and the restyled Saturns sold as Saabs would have played very well to the young urban market that GM is missing in the U.S.  Oh, and a leader like Winston Churchill wouldn’t have time for GM—-but if he found himself in charge, he would have made GM profitable and thriving without a bailout!  

  2. Well, that’s all great but I ordered an 9-5 estate back in May and my fleet manager informed me that after many months of waiting, time’s up.  I have asked time until Friday at which time I hope Saab will be able to confirm that production will re-start.  Any vague hopefull news won’t do this time, I fear.  For God’s sake, I’ve been driving on worn-out summer tires in heavy rainfall today because i’ve been postponing any labour or costs on my current MY07 9-5 which I should have returned to the lease company 21k km ago, fearing that such costs would trigger a request to bring the car in and this would mean I have to cancel my longstanding order for the new one.  If I don’t have a confirmation of a restart of the production this Friday, I’m afraid it’s all over for me.

    1. Fvbourgo,

      News today is that Saab’s reorg hearing in the District Court won’t take place until Monday.  That hearing will either allow or disallow the continuation of our reorganisation process (i.e. there is little likelihood of a production announcement on that day).

      It’s painful to me that we’re not able to fill your order in the time that you require and I thank you for holding out this long.  But if Friday’s your hard deadline, then we might have to look forward to your next lease cycle.

  3. Today, I bought a used 9-5 aero, XWD, TTID, with all euipment thats possible. The car was a democar and had just run 12000 km. It was realy nice to drive it home to Gothenburg. Unfortnatly I have to cancel my order of a new 9-5 SW. But I couldnt wait:). 

  4. I appreciate the efforts that have been made by Saab AB in the last months to find the money to pay the salaries and restart the production. Even more I appreciate the role of Youngman. They have to accept a limited role because of the veto of GM. It’s really great to see that they, knowing there limited position, give Saab the money for shortterm survival.

  5. Jeremy Clarkson from UK’s Top Gear said he hated Saab drivers because they all have that smug look of satisfaction! He is so right. 
    I bought a 2006 9-5 2.3t Vector Sportkombi yesterday….you should see my smug satisfied face 🙂 
    I’m praying Saab make it through this. 

Leave a Reply

Your email address will not be published. Required fields are marked *