Saab News: Youngman stays tuned!

Actually, Sunday is not the day for economic news from Sweden. But with many Saab fans worried about our brand, there are updates whenever they happen. Rachel Pang has spoken out in the press, stressing that she still sees Youngman as a buyer in first place.

Rachel Pang in Sweden
Rachel Pang in Sweden

That time is short, has been recognized by Youngman and therefore submitted a proposal for further production in Trollhättan before Christmas. Within the next two weeks, we would like to have another meeting with the bankruptcy trustees.

Youngman has invested millions in Saab in the past and has always kept its word. Therefore, it is gratifying that Rachel Pang is still on board after it has become very quiet around the Chinese in recent days. Rightly you see yourself in the first place, because you already own some rights to the Saab PhoeniX platform, which was pledged as collateral for loans in part by Muller to Youngman.

Rachel Pang has recognized the situation, and hopefully the bankruptcy trustee honors the commitment of the Chinese! To make more timely decisions, the better for Saab and the staff.

Text: tom@saabblog.net

13 thoughts on "Saab News: Youngman stays tuned!"

  • What an accumulation of pseudo-nonsiders and back-thinking people.
    Nothing of what has been speculated here has come and will come.
    SAAB has been bankrupt for a long time - not only, but also because of a pronounced administrative ignorance and mental immobility in Sweden (and at SAAB).
    GM just wanted to let the shame of failure and social obligations stick to the shoe.
    You probably (with the approval of the US-friendly Swedish government) were looking for a stupid person to leave standing in the rain.
    SAAB is history and the crumbs are eaten by the greedy (not the cutest).

    gruß
    Gallix

  • It's interesting to read how everyone here is involved with our favorite brand. One is in favor of the Chinese, the other against. Every one of us on the blog knows the quality Saab cars have always had. And I hope, Saab should survive, no matter which buyer it is, that this is aware of this and continue to place quality and safety in vehicle construction at Saab at the top. Anyway, Youngman has been completely behind Saab, invested a lot and always kept his word. When we hear China, everyone thinks of the cheapest plastic toys loaded with pollutants that are unusable after first use. But it works differently. Maybe a bad example, but when I look at my Braun razor, it does not bother me at all that it was produced in China. I just trusted the name when I bought it, and I did not see where it was produced. It is much more important, should there be a buyer who is aware of the premium brand, and also produces quality cars again accordingly.

  • I am in favor of a button “please send an email when the drama is over”, where I can then enter my email address, you can't take it anymore. 🙂
    Oh, I would be happy if the brand survives, it would be for the workers, the dealers and in the end for me if I would come to the Saab someday.

    Greetings from Saxony

  • The one with the rights to what makes GM and GM more real is a double-edged sword.
    On the one hand, the Americans tend to demand unimpeded trade, on the other hand, they usually only want one way.
    First, GM refuses because of nationality.
    This could have serious consequences for the US (not just for GM), which, in turn, depends on Youngman's status of the Chinese government.
    Read through the speeches of the last CPC party congress.
    China has enough power today to wreak havoc in the western world.
    (Do you have any idea what they are bunkering at USA government bonds ??)
    Punitive tariffs might also be an answer (see steel war a few years ago)
    Since you have quickly turned from the US side.
    Saying 50% import duty on GM products to the PRC, we are sure to reconsider your opinion.
    And Momenta swims its power so synonymous with other manufacturers of it.
    Even in Rüsselsheim should not everything go so smoothly.
    Maybe we're faster on 2009's point than some think.
    Yes and the Chinese, I think they want to get in the door with a brand, sure to set foot in Europe.

    Best regards
    gunter

  • Unfortunately yes. Just as the EIB has collateral and would be serviced in case of recovery, Youngman also has rights to the platform. If this were sold Younman would definitely be involved in the result.
    In that sense, Youngman is, in fact, in the first place, whether that's good for SAAB or not, that's one of the questions.

  • Hello M850,

    is that really the case with the Phoenix platform?

    Quote from "SAAB bankruptcy: consequences, opportunities, perpetrators" from December 19.12.11, XNUMX:
    “The era of Swedish Automobile, Youngman and Pang Da is definitely over today. Everyone has lost money on a large scale, and Victor Muller is also faced with a financial mess. All license agreements are also invalid, including the agreement with BMW. "

    What rights does Youngman really have?

  • Maybe you are right. But what our dear Tom once again understood as the only one is that Youngman has parts of PhoeniX as security.
    With that, the guys from Youngman are at the forefront and have a fat trump in their hands. I think we can not be too picky about the SAAB rescue, right?

  • Youngman is history, the investments are gone and must be seen as apprenticeship.

    Youngman had a year to work with SWAN and GM to bring a viable solution. They played for a while and were hoping that the starting price would drop. The unfair 100% games with Hr. Lofalk have driven GM into total blockade. The bankruptcy of SAAB was the result.

    Why on earth should Youngman be allowed any precedence? So that they vegetate then at least 2 years without any GM toleration with only one series. What impact this has on personnel and dealer inventory, I do not like.

    Anyone looking for a solution with 3 series together with GM should be clearly favored. That's better for the brand, for the employees and the dealers. The origin of an investor is not relevant.

    Youngman can only be the last chance for SAAB. The first chance for a fresh start is not Chinese.

  • Hello Klaus. We do not know the current proposal from Rachel Pang. But it's sort of like written by Saab900. For the 9-3 is expected with approval from Detroit, since the base is considered obsolete. With it one would like to secure a production, until in two years the new, license-free models come.

  • I think they just want to build the 9-3 and do without 9-4x and 9-5. With the 9-3, the factory is to be secured until SAAB has developed its own products.

  • The Chinese are all over the world to put their (soon worthless) dollars into real assets. Especially in technology made in europe. Recently there was a nice report about the Chinese shopping spree at solar and wind energy companies. The oil sheikhs have already done that at VW and BMW.

    You get two “valuable” things in this way. Good vehicle construction and production technology from Sweden and a good name. And they also want to get involved in vehicle construction. But here you won't get that far with an aggressive pricing policy. You need a good name.

    Which vehicle brands in the world have the best image: Audi / BMW / VW / Mercedes / Volvo and of course Saab

    Even if the French (Renault / Peugeot) or Skoda build good cars, the perceived (and paid) value of a BMW & Co is higher. Therefore, the Chinese continue to build the Volvos in Sweden. Nobody will buy a China Volvo. And certainly not a Chinese SingSang or something.

    The question now arises, what the Chinese the technology is worth. Even if you have to start from scratch, you think you will be able to make a profit later on. And money have enough, at the end of the chain there is behind the state anyway.

    I could well imagine that you are doing the things at Saab like Volvo did, assembling the vehicles in Sweden and producing the components in China or elsewhere.

    Let's wait, it will stay exciting.

  • Hello Tom.

    What I do not understand is why the Chinese are holding on to the Saab purchase (I think that's great), knowing that GM does not want to sell to China.
    Please answer me this question.

    Thank you for your great blog and best regards from Styria

    Klaus

  • At least for Sunday a good message.

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