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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.


  1. Personalised Plates says:

    76.7% is a pretty big drop in production. I’d be amazed if SAAB ever fully recovers. Shame really as my Dad always bought SAAB as a kid and I have a real soft spot for them.

    February 4th, 2010 at 6:25 am