Saab production stop: The press in Germany and Switzerland about Saab

Production break at Saab
Production break at Saab

The ascent and descent from Saab continues. Last week we were optimistic that we could only write about great cars from Sweden in the future, this week we have the sometimes cruel reality again. We do not yet know whether the production stop is due to any missing small parts or whether a new, major problem is starting. "Saab's time of suffering knows no end," writes the Reuters, We agree, this sentence completely meets our mood today.

Next you write today: At the Swedish car manufacturer Saab, the bands are once again silent. Important components are currently missing for further production, said a company spokeswoman. "It's enough if a rubber strip is missing and the belt stops," she explained at the company headquarters in Trollhättan. Whether the production can be resumed this week, she did not want to say yet. It is currently negotiating with the approximately 800 suppliers. The share of the Saab parent company Spyker Cars from the Netherlands dropped by about ten percent on the Amsterdam stock exchange.

The beleaguered Swedish car manufacturer had to stop its production for around seven weeks in April and May because suppliers were holding back important components as a pledge for unpaid bills. The 2010 sold by the US company General Motors to the Dutch sports car manufacturer Spyker Swedish cult brand suffered from the beginning under major liquidity problems. Several attempts to find a Chinese partner this spring failed. Only last month, Saab found in the Chinese car dealer Pang Da a partner who wants to invest in the Swedish company.

Pang Da announced that it would acquire 24% stake in Dutch Saab parent company Spyker Cars for 65 million euros. In addition, the Chinese company wants to buy for 30 million Euro Saab cars. An option to purchase additional vehicles worth 15 million euros was also signed. In addition, Spyker and Pang Da want to form a joint venture for the distribution of Saab in China.

The bunch, a publication from Bern says "the ailing Swedish car manufacturer Saab is facing new problems." The tense financial situation of the Swedes is also precisely registered in Switzerland. One continues to write about Saab like this:

After the temporary solution of liquidity difficulties, the group now has to cope with bottlenecks in the supply of components. On Wednesday, Saab had to stop his tapes for the second consecutive day. Already in April and in May, they stood still for six weeks. "It's hard to make any predictions," said Saab spokeswoman Gunilla Gustavs on the timing of a resumption of production. Saab owner is the Dutch Spyker Group. Saab had only on 27. In May, the bands hit again after the Chinese car dealer Pangda had jumped the company to the side. Despite the Pangda financial injection Spyker continues to fight for fresh money such as a loan of about 30 million euros from the European Investment Bank (EIB). The Saab spokeswoman described the financial situation of the group as "tense".

"Oh dear: Saab stops production again," wrote the autoblog yesterday, placing the producer in the most negative of all drawers. The authors filed their Saab article under the heading “bankruptcy” and find very clear words. Autoblog continues to write

Saab has been going up and down for weeks. Saab's production lines stood still for many weeks due to lack of funds. After a new investor was recently found in the Chinese car dealer Pangda, production started up again on May 27. But on Tuesday, June 7.6th. As the Reuters reports, production at Saab had to be stopped again because ..., ... parts for the production of Saab cars are missing. And why are parts missing? Because some suppliers are still waiting for Saab's outstanding payments! No money - no goods! Accordingly, Saab still seems to live from hand to mouth. "We will resume production on Wednesday," announced a spokesman for Dutch Saab owner Spyker. But that sounds a bit like whistling in the forest.

Text: tom@saabblog.net

Sources: The federal government, Handelsblatt, Autoblog