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Archive for January, 2010

SAAB – SAVED?

After several delays, the ‘on again, off again’ confusion over the future of Swedish car maker Saab has finally been determined, or has it?

Last month General Motors unequivocably announced the demise of Saab. There was horrified reaction to this and some desperate last ditch offers were put into the melting pot in a bid to reverse GM’s decision.

GM relented and re-considered.

Yesterday Spyker Cars announced that they had reached agreement with GM over the transfer of the ownership of Saab.

Terms are agreed and the deal is expected to close in February.

Thus, according to Spyker ” Saab’s future as an independent car maker is assured.”

Spyker will pay General Motors US$74m. in two instalments, to be completed by July 15th 2010.

But the sale is also subject to a loan of 400m. euros from the European Investment Bank, guaranteed by the Swedish Government.

So that all looks positive for Saab dealers, supporters and customers.

But is it sustainable?

Saab suffered a massive loss of production in 2009 over 2008. By ‘massive’ we mean no less than 76.7 percent!!

No business, let alone a highly structured car company, can survive these sorts of losses if such diminished returns continue.

It seems, therefore, that Spyker/Saab have a huge task in front of them if they are to preserve this iconic brand. 

It will be interesting to see the difference between hopes and reality.

11th Hour Saviours Flood In For Saab

Four consortia have made last ditch bids for Saab after General Motors announced its intention to shut down the Swedish car company.

Amongst those involved in trying to save Saab is Bernie Ecclestone, the Formula 1 guru who said that Saab is ‘ a good brand that has probably been neglected by its current owners”. It has not been revealed how much he is personally offering for the purchase.

Spyker Cars have also submitted a modified bid to GM who have said that all four bids will be considered and an announcement regarding the future of Saab will be made next Thursday.

Ten Fuel Saving Hints

Any ideas that can help save you fuel are worth considering.

We’ve assembled ten of them, some obvious, others less so.

Here are our top ten.

1. Buy on the right day of the week.

2.

Don’t buy ethanol added fuel.

3. Pump up your tyres

4. Slow down

5. Keep a clean air filter

6. Idling your engine costs fuel – the 60 secs. bench mark.

7. Turn off the aircon.

8. Maintain your car.

9. Proper start up procedure.

10. Buy a fuel efficient car.

For the full story on fuel saving ideas click here.

Have you any other hints that you’d to comment on?