Saab bankruptcy: Youngman is back!

Yesterday was one of the most terrifying days in the history of Saab. A bankruptcy can always be a fresh start, as I have often written in recent months. As soon as the bankruptcy trustees were ordered, the first interested parties knocked on the door.

Saabs in the snow
Saabs in the snow

It is not surprising that Youngman is back on stage (which I won a bet with). The investor from China wants to buy Saab out of bankruptcy and is already in the negotiations. Talks are also being held with GM, Youngman said they are “..very interested in a good relationship with Detroit”. However, the signs have changed. There are no more contracts for licenses and component deliveries, and everything is starting over, which makes it easier for both parties.

Youngman also leaves no doubt that they are ready to spend the winter without production for two years and then make a comeback on the Phoenix platform. Probably the largest creditor of Saab Automobile AB, it is a three-digit million amount accepted, one has good cards to win the contract.

In the run-up, Youngman has already secured the security of the Trollhättan site, while production, development and design remain in Sweden. However, it is said openly, the production will have a lower volume than the last years planned.

Not only Youngman is interested, but also a company from Turkey plays with and another European bidder. Not bad, because since the bankruptcy filing only 24 hours have passed and it looks like more serious buyers heading for Trollhättan.

General Motors showed its ugly face again yesterday. After you tapped the last nail on the coffin, you continued to fire. Saab 9-5 and Saab 9-4x (a topic we will talk about) are 100% licensed products. The Saab 9-3 should also contain 30% GM and the Phoenix platform should be contaminated by 10-15% of Detroit rights.

This is a political warning to anyone who wants to buy Saab. You keep on bunching and let it be seen that you are using GM when you buy Saab. GM, however, must be careful not to overstretch the bow. Depending on who buys Saab, one could get one or two blue eyes on the Potomac River.

While it does not look bad for the factory and the location, we will probably lose the Saab Museum if there is no sponsor. The municipality has indicated that the running costs are not sustainable. Maybe the region Västragötland helps or Saab fans want to donate. Because the historical collection should be preserved for Sweden.

It remains exciting and dramatic. We stay tuned.

Text: tom@saabblog.net

28 thoughts on "Saab bankruptcy: Youngman is back!"

  • You could have saved everything if you had not fallen for these GM (rogue men).
    It will not be the last company to fall for such bad machinations from the US.
    I really see it as a fresh start and that from the ground up.
    I am still confident that SAAB will continue.
    Ruedi

  • ………. Say friends,
    Do you also notice that in this, our story, ALL those involved (except the Chinese) have lined up, like the dog with - I don't want to say with what.
    And that for a long time !!!
    Although - I have known the company for 30 years - that is nothing new at SAAB.

    Gallix

  • I don't see a break as problematic as long as the new owner has financial breath and can develop the new sucessor in peace and quiet without violating GM licenses and the like ... .. think the fans are probably ready to wait after yesterday's shock before finding a successor with GM technology gets… the Saab designers and technicians are sure to develop a great car…. ……… .. Good things take time and with good marketing 2 years fly by and you can possibly order earlier… .. and thus show the new owner your commitment .. and so you build up your customer base piece by piece and also the range of vehicles from ...... ..

  • I do not think things will work with the 2 winter break. Anyone who has completely disappeared from the market for 2 years has a complete new beginning in front of him. There are still customers who know the brand and there is still a dealer structure that works. For half a year, no cars have been produced in Trollhättan and the number of dealers has dropped sharply over the last six months. One can imagine how this will look like after 2 years of zero production. Under a company from Turkey I can not imagine anything that could be good for Saab
    Well, however, I could imagine European manufacturers who might even agree with GM on licenses. You only have to look at the Opel range of vans. 2 Opel Transporter or Vans are products and licenses from Renault and one comes from Fiat. These vehicles are certainly not uninteresting of the numbers for GM and could be of importance in negotiations.

    • Just don't approach everything so negatively - Renault and Fiat / Chrysler will not be among those interested. Here, too, you have enough to do with yourself and don't want to buy in competition for your own products!

      The Turkish prospects are much better suited here (and, incidentally, many large Turkish companies are in very good financial shape) because a globally active vehicle manufacturer would round off the matter there - a situation similar to that of the Chinese.

      Fears that traders would not survive a longer break, again pointing to interim service continuation and (in most remaining operations the case) the second or third contract with other vehicle manufacturers for sale + service. What should not work there?

      Joachim

    • Thank you, very enlightening the link.

  • after GM claims that their licenses were everywhere but the 9-3 and Phoenix are owned by Saab and not GM, licenses were moved quickly here?
    it's all very confusing.

  • How should employees or dealers live with production stoppages for two years?

    The museum is another tragic element. If everything is exploited, not even this place holds the memory high.

    • The ministers were in Trollhättan today to “listen”; They could not offer any concrete help. Presumably, therefore, they had to hold the press conference in front of the SAAB entrance.
      The museum would be something for the Swedish state! He can get involved there.

      • The question remains what the two politicians actually wanted in Trollhättan - that was most likely just a production for radio and television as well as for the press.

        My point of view (on Anddeu's question) with regard to dealers and employees during a possible “wintering phase”: Most dealers have a second or even third manufacturer as a partner. In addition to SAAB sales, there is also SAAB service - the service department should be busy (as before).

        Most of the SAAB employees would naturally have to be supported in some other way during the winter break. In Sweden there are certainly similarly good benefits for the unemployed as in Germany or perhaps also short-time work benefits - so everything is feasible and at least in this area the Swedish state (government) can now show that it is there at all!

        Joachim

  • then we hope for a great new start soon to be able to buy real Saabs without GM technology

  • Good job for winter holidays: scrape off GM logos from our station wagon and convertible

  • I suspected that, in the background gambled and pulled strings. Now a new phoenix is ​​born
    and like Tom write there will be a run at the Edelschmiede, who knows who will knock. Of course, a company that operates worldwide can just like Talbot or
    Simca disappear. We are looking forward to it
    on new good news and that finally the tapes are running, even with a model ifs must be

    Tom please keep writing and let u always be up to date. Thank you

  • This is a political warning to anyone who wants to buy Saab. You keep on bunching and let it be seen that you are using GM when you buy Saab. GM, however, must be careful not to overstretch the bow. Depending on who buys Saab, one could get one or two blue eyes on the Potomac River.

    what can happen if I buy now a jahrtreswagen?
    what does gm have an influence on?
    Are there no spare parts left?
    the guarantee is probably lapsed anyway,
    So what do you mean by the two blue eyes?

    Carlson

    • It was not about who buys a saab, but saab company! therefore you can probably buy your car without any problems and be happy that you got one! spare parts could sooner be more readily available than they have been recently. Guarantee, yes that is open ... but if necessary it is possible to take out the follow-up guarantee (runs through car guarantee) after the 2nd year from EZ.

  • to the museum:

    Is there something like charitable foundations in Sweden? I can imagine donating something. What amounts would have to be raised?

  • ... these are really parts with core know-how. Probably the 30% is related to the number of parts and not the development effort. I understand that GM is extremely sensitive ... I suspect that an intern at SAAB could develop new ones in an afternoon.

    To be honest: SAAB has also modified many GM / Opel parts in the past, as they did not meet the requirements of SAAB. It's probably going to be a very motivating task to move everything out of the SAAB where GM is headed. And if you look for other partners.

    • With the right amount of money, a lot should be possible ...

  • That looks rosier than yesterday ...
    Tom, you are causing a slight euphoria in the truest sense
    Let us practice patience again and hope for a GOOD result with Youngman.

    I keep my fingers crossed for all the parties that are Pro-SAAB and wish everyone in advance a happy holiday.

  • The 30% at 93, what should that be? The 3 parts in the engine compartment with their logo on it ... ^^

    • The gas cap :-p on the stands, at least in the facelift, GM on it, luckily I have a facelift * happy *

      • on the heat baffles above the exhaust, i.e. attached to the underbody, it also says GM ... unfortunately, unfortunately

      • What? I haven't noticed that there yet ...

        • So I meant the gas cap ...

          @Bleche: Hammer in hand and out with it ... ^^

          • and the whole V6 engine; by Holden from Australia, and the old V6 TiD sloped engine from Isuzu, the 1,9 TiD, the exterior mirror controls, and the steering wheel, and and and

  • I don't understand about the museum ...

    1. Why not set up a (digital) donation box?
    2. Doesn't Sweden have something like “cultural heritage”, “monument protection” etc ... !?

  • What a farce slowly….
    You could have saved a lot from that, right?

    GM is through with me ... and "something of".

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