Saab has actually made it to the AMI. Friend and fellow blogger Mark has taken over the coverage and actually it could have been a good day yesterday. Because the cult brand in the special exhibition of the VDIK can show flag is not self-evident and the result of much commitment. A good friend has already sent the first photo of the sonnet. Yes, she is really at the fair.
If it were not for the cacophony in Sweden that would cause us to write mainly about economics and not about cars and Saab internals. There would be a lot to tell, but that will come later. What about the events in Sweden?
A Swedish friend told me his version of things yesterday and what he says sounds plausible. He sees that it is about money and politics, and both are interconnected. The problem, he says, was some time ago the state-owned Saab Parts AB. That is highly profitable like any car manufacturer. In the after-sales area, the producers get their profits and therefore, rightly, the price for the Saab daughter in Nyköping is not a special offer. 2.2 billion crowns are on the price tag and discount negotiations are not even started. This is legitimate and responsible to the taxpayer.
Buyers who want to pay this price do not seem to exist. And those who would buy are not what the administrators want. A few weeks ago, Mahindra signaled chronic reluctance to pay the full price. It is similar with NEVS. You want some parts from Saab that are needed for electromobility - and - maybe the spare parts business. But better not. Because a car manufacturer who is on board at NEVS wants the spare parts history beyond the consortium for itself.
NEVS would be a real reboot from any Saab tradition. Responsibility for all already produced models would be in other hands. So looks like the continuation of a traditional brand? At the moment everything is in the air and everything is possible. Why the electric car consortium with its ridiculously small bid plays a role only becomes clear at second glance.
To get the best price for the creditors, the package was divided into seven handy packages a few weeks ago. Believing that Mahindra or Youngmann would buy the complete table with all the packages, the administrators saw themselves at their destination. Then NEVS picked the most beautiful packages from the table - which one is not entirely clear - there are different versions. Youngman was unable to provide proof of creditworthiness and was eliminated from the job. Mahindra was very passive. The plan stopped working. So much for our friend from Stockholm.
The situation is not good. But it's not too late yet. Politicians in Sweden are now getting the receipt of a failed strategy in the Saab affair. If one had shown courage and taken the US-style corporation under state custody, then one could quietly look for a buyer for a running company. There would have been no discussion about recoverability. But now we are talking about a company with no production. Politics should look the ugly reality in the eye and realize losses now. The faster the better.
After all, once the state-owned enterprises have been permanently separated from the automotive business, they will continue to lose value. Then the losses will be even higher than currently.
The more time lost the worse for investors and brand. The administrators, so far confidently on the way, will come under pressure soon. The process devours enormous sums and was designed for a near-term end. Any delay puts the funding issue on the agenda. The administrators could see themselves forced to sell in parts. The consequences are clear.
Meanwhile, some nerves in the community are blank. I have seen it in the emotional emails that have fluttered into my mailbox yesterday and today and I understand that. But no matter what our preferences are. Whether we like Indians or Chinese. Or rather turbos than electric cars. We should stay factual and fair and consider what we write. So far this has always worked very well. Even if yesterday's day did not go as hoped. Let's stay cool!