Update: Saab Subsidiary Resolves Bankruptcy Threat

This just in; only a few hours after it was made known that one of Saab’s suppliers submitted a bankruptcy petition against the automaker’s affiliate company Saab Automobile Tools, the Swedish firm issued a short statement saying that it has resolved the issue with Swepart verktyg AB.

Follow the jump to read the official statement from Saab's parent company Swedish Automobile N.V., formerly known as Spyker Cars N.V.

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More Troubles: Supplier Files for Bankruptcy of Saab’s Tool Division

New troubles are brewing for the never-ending roller-coaster that is Saab. On Friday, one of Saab’s many unpaid suppliers, SwePart Verktyg AB, lost its patience and applied for the Swedish automaker’s Saab Tools subsidiary to be declared bankrupt.

This is the first time that one of Saab’s suppliers has made such a move. The Swedish automaker’s parent company, Netherlands-based Swedish Automobile (SWAN), issued a short statement saying that it will try to resolve the problem as soon as possible:

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Saab Further Delays Production Restart Due to Lack of Parts

Saab announced today that it is still in discussions with its suppliers over supply and delivery terms in order to restart production at its Trollhattan factory.

Yet, as the Swedish automaker tries to secure short-term funds, it isn't able to guarantee that production will commence on August 9 as Saab's new plan had initially called for, postponing the date to the end of August.

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Saab 9-6: Subaru-Based Crossover Prototype Comes out of the Closet

Back in the corporate heydays of GM, before the Detroit automaker went bust, the General would re-badge just about anything it could get its hands on if it were to make a fast buck without breaking a sweat.

This lazy corporate mentality was not only limited to GM’s American products but it spread throughout the entire company. Saab and even Subaru were subjected to this crude process, which was mostly limited to swapping badges and grilles.

When GM controlled the fate of Saab and held a 20 percent share of Subaru, the Detroit company's executive gurus came up with the bright idea of re-badging Subaru models as higher-end Saabs and selling them for a premium.

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New Saab 9-4X SUV Arrives in the US, First Model Delivered in Ohio

Saab is still trying to work through its problems, but the Swedish carmaker has some good news from the States. The first examples of the firm’s new crossover, the Cadillac SRX-based 9-4X, have just arrived at US showrooms.

“Our first vehicles are just hitting retailers and our first customer sale took place last weekend at Saab North Olmstead in Cleveland, Ohio” said President and COO of Saab Cars North America, Tim Colbeck.

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EIB Approves Lease of Saab’s Real Estate

The European Investment Bank has finally approved the lease of 50.1% of Saab Automobile’s property to a Swedish Consortium led by Hemfrosa Fastigheter AB for a period of 15 years. The deal is expected to net Saab Automobile 25 million Euros ($41 million). Read more »

Saab Finalizes Deal with Panga Da and Youngman, Announces New 9-1, 9-6X and 9-7

Saab’s parent company Swedish Automobile NV said on Monday it converted the non-binding memorandum of understanding with Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co into a final agreement. However, the deal is still subject to regulatory approval from Chinese and Swedish authorities as well as the European Investment Bank.

In addition to the above agreement, Saab announced the formation of a Sweden-based joint venture company between itself and Youngman called NPJV, which will focus on the development of three new product models.

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More Good News for Saab as Swedes Receive €25 Million Loan

Another day, another new story for Svenska Aeroplan Aktiebolaget –or, as you might know it, Saab. The Swedish company announced on Wednesday that it has entered a €25 million convertible bridge loan from Gemini Investment Fund Limited.

The loan’s annual interest is 10% and the conversion price is €1.38 per share, while Saab can at any time repay the loan, presumably when the expected Pang Da and Youngman Lotus funding is received, without a penalty.

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Saab Secures Further Funding by Leasing its Property

Another day, another chapter in the ongoing saga that is the survival of Saab. After yesterday’s order from a (yet unnamed) Chinese company, which temporarily solved its cash-flow problem, today the automaker announced that it has reached an agreement with a consortium of Swedish real investors led by Hemfosa Fastigheter AB, for the sale of 50.1% of Saab Property for a period of 15 years.

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New Chinese Order Provides Saab with a Temporary Lifeline

Maybe the future of Saab isn’t as dark as it looks, and the voluntary bankruptcy proposed by suppliers isn’t the only solution. Well, at least for now. That’s because the Swedish automaker announced today that an unnamed Chinese company place an order to buy 582 cars, with a total value of € 13 million.

The pre-payment is to be received this week, giving Saab a much needed funding to pay its workers and suppliers. This, however, is only a short-term lifeline for the ailing company and the efforts to secure funds that will guarantee the brand’s future and restart production, which has been halted again since June 8, are ongoing.

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Saab Says it Can’t Pay Workers, Company’s Survival in Doubt

New clouds are forming over Saab as the automaker’s parent company, Swedish Automobile N.V., formerly known as Spyker Cars N.V., said on Thursday it will be unable to pay its 3,800 employees their wages because it has not yet obtained the necessary short-term funding.

Swedish Automobile said it and Saab “are in discussions with various parties” to secure short-term funding, including through a sale and lease-back of Saab’s real estate assets.

Read more »

Saab Production on Hold for at least Two More Weeks

Ailing Swedish car manufacturer Saab will not be producing new vehicles for at least two more weeks until it resolves the problems with its suppliers, the company said on Monday.

"There will be no normal production during weeks 25 and 26 (June 20th-July 3rd)," Saab spokeswoman Gunilla Gustavs told Reuters. "We are still negotiating with all suppliers and we need to get everyone on board at the same time. The weeks of 27-29 (July 4th-24th) are planned to be normal working weeks".

Read more »

Saab 9-5 upgraded for 2012

Against a background of nervous suppliers, production stoppages and Chinese investment, Saab has announced a series of improvements to its 9-5 Saloon for 2012. As expected, it has also confirmed the introduction of the 9-5 SportWagon.



A series of changes are being introduced to make the 9-5 more fuel efficient and environmentally friendly. All engines have been tweaked, and devices such as automatic stop-start and a gearshift indicator are now fitted. The headline result is that the Saloon equipped with the 157 bhp (118 kW / 160 PS) 2.0 litre TiD diesel engine and manual transmission now emits 125 g/km of CO2. Before, the figure was 139 g/km.



Significantly, that means the Saab just betters the 129 g/km of the fleet managers’ favourite, the BMW 520d. However, it should be remembered that the 9-5 still has 23 bhp (17 kW / 24 PS) less than its German rival.

Another important area which has received attention is the chassis, something that was criticised when the 9-5 was first launched. This time around, extensive testing was done on the rough tracks that pass for UK roads to help smooth out the ride characteristics. The result is revised spring rates, dampers and suspension bushings, plus the promise from Saab of a much more enjoyable drive.



Standard equipment levels have been enhanced by the addition of a hard disk satellite navigation system with 8” touch screen, DAB radio and revised interior trims for all variants. Making it onto the options list for the first time are a rear reversing camera and adaptive cruise control.



The SportWagon models will carry a £1,200 premium over their Saloon equivalents, meaning on the road prices will be between £26,995 and £39,195.

Unfortunately the new arrival lacks the visual elegance of the Saloon, especially when viewed side-on. That’s mainly because the upper profile of the doors features a strong rearward down slope, which then results in an odd clash of shapes and a lack of flow towards the back.



Nevertheless, those strange lines conceal a generous enough load bay. Cargo capacity is 527 litres with the rear seats up, rising to 1,600 litres with them folded down.



That’s similar to competitors such as the Audi A6 Avant (565 / 1,680 litres), Volvo V70 (575 / 1,600 litres) and BMW 5 Series Touring (560 / 1,670 litres). But if luggage space is the absolute priority, buyers would be better looking at the Mercedes-Benz E-Class Estate (695 / 1,950 litres) or the Škoda Superb Estate (633 / 1,865 litres).



Dealers are accepting orders for the 2012 Saab 9-5 range now, and the first customer deliveries are expected during autumn 2011.



Related post:

Saab 9-5 range expands

Saab 9-5 upgraded for 2012

Against a background of nervous suppliers, production stoppages and Chinese investment, Saab has announced a series of improvements to its 9-5 Saloon for 2012. As expected, it has also confirmed the introduction of the 9-5 SportWagon.



A series of changes are being introduced to make the 9-5 more fuel efficient and environmentally friendly. All engines have been tweaked, and devices such as automatic stop-start and a gearshift indicator are now fitted. The headline result is that the Saloon equipped with the 157 bhp (118 kW / 160 PS) 2.0 litre TiD diesel engine and manual transmission now emits 125 g/km of CO2. Before, the figure was 139 g/km.



Significantly, that means the Saab just betters the 129 g/km of the fleet managers’ favourite, the BMW 520d. However, it should be remembered that the 9-5 still has 23 bhp (17 kW / 24 PS) less than its German rival.

Another important area which has received attention is the chassis, something that was criticised when the 9-5 was first launched. This time around, extensive testing was done on the rough tracks that pass for UK roads to help smooth out the ride characteristics. The result is revised spring rates, dampers and suspension bushings, plus the promise from Saab of a much more enjoyable drive.



Standard equipment levels have been enhanced by the addition of a hard disk satellite navigation system with 8” touch screen, DAB radio and revised interior trims for all variants. Making it onto the options list for the first time are a rear reversing camera and adaptive cruise control.



The SportWagon models will carry a £1,200 premium over their Saloon equivalents, meaning on the road prices will be between £26,995 and £39,195.

Unfortunately the new arrival lacks the visual elegance of the Saloon, especially when viewed side-on. That’s mainly because the upper profile of the doors features a strong rearward down slope, which then results in an odd clash of shapes and a lack of flow towards the back.



Nevertheless, those strange lines conceal a generous enough load bay. Cargo capacity is 527 litres with the rear seats up, rising to 1,600 litres with them folded down.



That’s similar to competitors such as the Audi A6 Avant (565 / 1,680 litres), Volvo V70 (575 / 1,600 litres) and BMW 5 Series Touring (560 / 1,670 litres). But if luggage space is the absolute priority, buyers would be better looking at the Mercedes-Benz E-Class Estate (695 / 1,950 litres) or the Škoda Superb Estate (633 / 1,865 litres).



Dealers are accepting orders for the 2012 Saab 9-5 range now, and the first customer deliveries are expected during autumn 2011.



Related post:

Saab 9-5 range expands

Cadillac drops turbo SRX

Cadillac is discontinuing the turbo versions of its SRX crossover, due to low demand.

Dropping the 300 bhp (223 kW / 304 PS) 2.8 litre V6 turbo motor means that the only engine now available for the SRX is a normally aspirated 3.0 litre V6, which produces 265 bhp (197 kW / 268 PS).



The reason for dropping the more powerful option can’t be because buyers are put off by its fuel consumption. Indeed, the EPA Highway rating of 22 mpg US (26.4 mpg UK / 10.6 l/100km) for the SRX turbo is barely any worse than the 23 mpg US (27.6 mpg UK / 10.2 l/100km) recorded by the 3.0 litre V6 with all-wheel drive.

Rather, it seems that Cadillac got the pricing wrong. Whereas the base non-turbo version with front-wheel drive has a price tag of $34,705 (including destination charges), the cheapest turbo SRX costs $50,790 - almost 50% more.



It’s unclear how this move will affect the forthcoming Saab 9-4X. Due to be launched in North America during May 2011, the 9-4X is based on the SRX and was going to share its engine line-up.



Images © GM Corp.



Related post:

Saab 9-4X unveiled

Cadillac drops turbo SRX

Cadillac is discontinuing the turbo versions of its SRX crossover, due to low demand.

Dropping the 300 bhp (223 kW / 304 PS) 2.8 litre V6 turbo motor means that the only engine now available for the SRX is a normally aspirated 3.0 litre V6, which produces 265 bhp (197 kW / 268 PS).



The reason for dropping the more powerful option can’t be because buyers are put off by its fuel consumption. Indeed, the EPA Highway rating of 22 mpg US (26.4 mpg UK / 10.6 l/100km) for the SRX turbo is barely any worse than the 23 mpg US (27.6 mpg UK / 10.2 l/100km) recorded by the 3.0 litre V6 with all-wheel drive.

Rather, it seems that Cadillac got the pricing wrong. Whereas the base non-turbo version with front-wheel drive has a price tag of $34,705 (including destination charges), the cheapest turbo SRX costs $50,790 - almost 50% more.



It’s unclear how this move will affect the forthcoming Saab 9-4X. Due to be launched in North America during May 2011, the 9-4X is based on the SRX and was going to share its engine line-up.



Images © GM Corp.



Related post:

Saab 9-4X unveiled

Saab 9-4X unveiled

Ahead of its debut at next month's Los Angeles Auto Show, Saab has released details of the 9-4X crossover. It’s an important model for the rejuvenated Swedish manufacturer as it should help to broaden the brand’s appeal, particularly in the crucial North American markets.

The 9-4X is a legacy of Saab’s past under General Motors ownership, though. Not only does it share a platform with the Cadillac SRX, but it will also be built alongside that vehicle by GM in Mexico.



But the 9-4X’s looks don’t betray those connections, and it features typical Saab styling cues including the wraparound effect windscreen, gently tapering roofline, ‘hockey stick’ waistline and deep front grille. Wheels are 18” six-spoke alloys on entry-level versions, while Aero variants get 20” nine-spoke ‘turbine’ items.



On the inside there’s a driver-focussed dashboard, which Saab predictably maintains is reminiscent of an aircraft cockpit. The cabin is reckoned to be large enough for five adults, and the driver’s seat gets eight-way power adjustment as standard. Meanwhile, luggage capacity in the 9-4X can be increased by folding down the 60:40 split rear seats which, when lowered, gives a completely flat load space without the need to move the seat base cushions or remove the rear head restraints.

Regarding engines, the choice is limited to two V6 petrols, both of which drive through a six-speed automatic transmission and Saab’s XWD all-wheel drive system. First up is a direct injection 3.0 litre unit which, unusually for Saab, is normally aspirated. Without a turbo, it manages an output of 261 bhp (195 kW / 265 PS) which will accelerate the 9-4X from 0-62 mph (100 km/h) in 9.0 seconds.



The more powerful option actually has a smaller capacity - 2.8 litres - but twin scroll turbocharging allows it to produce 296 bhp (221 kW / 300 PS) and 400 Nm of peak torque, which is usefully available between 2,000 and 5,000 rpm. 0-62 mph (100 km/h) takes 8.3 seconds, but this engine is only available with the Aero trim level.



Top speed, fuel consumption and CO2 emissions figures have yet to be released for either engine. There’s also no sign of any diesels yet, although that will probably be rectified by the time the 9-4X makes it to Europe.

It’s claimed that the chassis set-up on the 9-4X will give car-like ride and handling good enough to challenge the current best in class. Furthermore, customers going for the Aero spec will get Saab DriveSense, which changes the behaviour of the dampers according to how the car is being driven and the type of road surface. It also allows the driver to switch from the default ‘Intelligent’ mode to ‘Sport’, ‘Comfort’ or ‘Eco’, the last of which re-maps the throttle pedal and gear change patterns to minimise fuel consumption.



North America will get the 9-4X first, with sales due to start in May 2011. Europe and other markets will have to wait a few months more though, as August is the planned launch date for those territories. Pricing - and presumably news of a diesel version - will be announced shortly before sales commence.

Saab 9-4X unveiled

Ahead of its debut at next month's Los Angeles Auto Show, Saab has released details of the 9-4X crossover. It’s an important model for the rejuvenated Swedish manufacturer as it should help to broaden the brand’s appeal, particularly in the crucial North American markets.

The 9-4X is a legacy of Saab’s past under General Motors ownership, though. Not only does it share a platform with the Cadillac SRX, but it will also be built alongside that vehicle by GM in Mexico.



But the 9-4X’s looks don’t betray those connections, and it features typical Saab styling cues including the wraparound effect windscreen, gently tapering roofline, ‘hockey stick’ waistline and deep front grille. Wheels are 18” six-spoke alloys on entry-level versions, while Aero variants get 20” nine-spoke ‘turbine’ items.



On the inside there’s a driver-focussed dashboard, which Saab predictably maintains is reminiscent of an aircraft cockpit. The cabin is reckoned to be large enough for five adults, and the driver’s seat gets eight-way power adjustment as standard. Meanwhile, luggage capacity in the 9-4X can be increased by folding down the 60:40 split rear seats which, when lowered, gives a completely flat load space without the need to move the seat base cushions or remove the rear head restraints.

Regarding engines, the choice is limited to two V6 petrols, both of which drive through a six-speed automatic transmission and Saab’s XWD all-wheel drive system. First up is a direct injection 3.0 litre unit which, unusually for Saab, is normally aspirated. Without a turbo, it manages an output of 261 bhp (195 kW / 265 PS) which will accelerate the 9-4X from 0-62 mph (100 km/h) in 9.0 seconds.



The more powerful option actually has a smaller capacity - 2.8 litres - but twin scroll turbocharging allows it to produce 296 bhp (221 kW / 300 PS) and 400 Nm of peak torque, which is usefully available between 2,000 and 5,000 rpm. 0-62 mph (100 km/h) takes 8.3 seconds, but this engine is only available with the Aero trim level.



Top speed, fuel consumption and CO2 emissions figures have yet to be released for either engine. There’s also no sign of any diesels yet, although that will probably be rectified by the time the 9-4X makes it to Europe.

It’s claimed that the chassis set-up on the 9-4X will give car-like ride and handling good enough to challenge the current best in class. Furthermore, customers going for the Aero spec will get Saab DriveSense, which changes the behaviour of the dampers according to how the car is being driven and the type of road surface. It also allows the driver to switch from the default ‘Intelligent’ mode to ‘Sport’, ‘Comfort’ or ‘Eco’, the last of which re-maps the throttle pedal and gear change patterns to minimise fuel consumption.



North America will get the 9-4X first, with sales due to start in May 2011. Europe and other markets will have to wait a few months more though, as August is the planned launch date for those territories. Pricing - and presumably news of a diesel version - will be announced shortly before sales commence.

Saab 9-3 Aero Carlsson

Saab has got experience of producing special editions in honour of rally driver Erik Carlsson, having previously named versions of the 900 and 9000 after him during the late 1980s and early 1990s.



Now it has decided to do it again, this time to mark the fiftieth anniversary of the Swedish driver’s first win in Britain’s RAC Rally, which was achieved at the wheel of a Saab 96.



Thankfully, the company has resisted the urge to just bung some fancy alloys and a few other extra bits onto something like a mid-range diesel model. Instead, it appears to have resurrected the limited edition Turbo X from a couple of years ago, as the new edition similarly features a turbocharged 2.8 litre petrol V6, Saab’s XWD all-wheel drive system and a six-speed automatic gearbox.



The result is the 9-3 Aero Carlsson saloon, which turns out to be a very rapid car. With 276 bhp (205 kW / 280 PS) and a healthy 400 Nm of torque, the 0-60 mph (96 km/h) dash takes just 6.9 seconds. But it’s in the mid-range that it really impresses: the 50-70 mph (80-112 km/h) acceleration time is only 6.3 seconds, perfect for overtaking. Top speed is limited to 155 mph (250 km/h).

Erik Carlsson with the Saab 9-3 Aero Carlsson special edition

Naturally, with that powertrain, the Saab was never going to be the greenest of cars. CO2 emissions are 269 g/km, and it’ll only manage a modest 25mpg (11.2 l/100km) on the combined cycle.



But if the 9-3 Aero Carlsson is going to cost a bit to keep fuelled up, potential owners will be consoled by knowing that they probably won’t need to spend any money on optional extras. That’s because Saab seems to have added most of them already.



Standard specification includes satellite navigation, Bluetooth telephone connectivity, Bose stereo, sports suspension with rear body levelling, bi-xenon cornering headlights, 19” alloy wheels, leather interior trim, electric front seats, twin exhaust tailpipes and a rear boot lid spoiler.



So, lots of horsepower and loads of kit… but how much? Incredibly, the 9-3 Aero Carlsson is priced at just £26,495. That’s actually £560 less than a ‘normal’ 9-3 Aero 1.9TTiD 180.



However, anyone interested will have to be quick - only 96 examples will be produced (that number being a nod to the Saab 96 that Carlsson drove back in 1960), and they will be available in the UK only.



There aren’t too many all-wheel drive compact saloons on the market with more than 250 bhp, so direct competitors for the 9-3 Aero Carlsson are somewhat thin on the ground.



Vauxhall has the Insignia VXR 4x4 which, with its 320 bhp (239 kW / 325 PS), can boast quite a bit more power than the Saab. It’s also quicker - 0-60 mph (96 km/h) takes 5.6 seconds - but it also costs more. The list price is £33,125 and leather is extra, but the current ‘Vauxhall Internet Only’ price of £28,350 indicates that there’s plenty of room to haggle.



Another potential rival is the Audi A4 Saloon. However, to get all-wheel drive and similar performance levels to the 9-3 Aero Carlsson, buyers would probably have to go for the 3.2 FSI S Line quattro tiptronic. That version costs £35,910, almost £10,000 more than the Saab, although that’s before any of the options needed to match the spec of the 9-3 have been selected.

Saab 9-3 Aero Carlsson

Saab has got experience of producing special editions in honour of rally driver Erik Carlsson, having previously named versions of the 900 and 9000 after him during the late 1980s and early 1990s.



Now it has decided to do it again, this time to mark the fiftieth anniversary of the Swedish driver’s first win in Britain’s RAC Rally, which was achieved at the wheel of a Saab 96.



Thankfully, the company has resisted the urge to just bung some fancy alloys and a few other extra bits onto something like a mid-range diesel model. Instead, it appears to have resurrected the limited edition Turbo X from a couple of years ago, as the new edition similarly features a turbocharged 2.8 litre petrol V6, Saab’s XWD all-wheel drive system and a six-speed automatic gearbox.



The result is the 9-3 Aero Carlsson saloon, which turns out to be a very rapid car. With 276 bhp (205 kW / 280 PS) and a healthy 400 Nm of torque, the 0-60 mph (96 km/h) dash takes just 6.9 seconds. But it’s in the mid-range that it really impresses: the 50-70 mph (80-112 km/h) acceleration time is only 6.3 seconds, perfect for overtaking. Top speed is limited to 155 mph (250 km/h).

Erik Carlsson with the Saab 9-3 Aero Carlsson special edition

Naturally, with that powertrain, the Saab was never going to be the greenest of cars. CO2 emissions are 269 g/km, and it’ll only manage a modest 25mpg (11.2 l/100km) on the combined cycle.



But if the 9-3 Aero Carlsson is going to cost a bit to keep fuelled up, potential owners will be consoled by knowing that they probably won’t need to spend any money on optional extras. That’s because Saab seems to have added most of them already.



Standard specification includes satellite navigation, Bluetooth telephone connectivity, Bose stereo, sports suspension with rear body levelling, bi-xenon cornering headlights, 19” alloy wheels, leather interior trim, electric front seats, twin exhaust tailpipes and a rear boot lid spoiler.



So, lots of horsepower and loads of kit… but how much? Incredibly, the 9-3 Aero Carlsson is priced at just £26,495. That’s actually £560 less than a ‘normal’ 9-3 Aero 1.9TTiD 180.



However, anyone interested will have to be quick - only 96 examples will be produced (that number being a nod to the Saab 96 that Carlsson drove back in 1960), and they will be available in the UK only.



There aren’t too many all-wheel drive compact saloons on the market with more than 250 bhp, so direct competitors for the 9-3 Aero Carlsson are somewhat thin on the ground.



Vauxhall has the Insignia VXR 4x4 which, with its 320 bhp (239 kW / 325 PS), can boast quite a bit more power than the Saab. It’s also quicker - 0-60 mph (96 km/h) takes 5.6 seconds - but it also costs more. The list price is £33,125 and leather is extra, but the current ‘Vauxhall Internet Only’ price of £28,350 indicates that there’s plenty of room to haggle.



Another potential rival is the Audi A4 Saloon. However, to get all-wheel drive and similar performance levels to the 9-3 Aero Carlsson, buyers would probably have to go for the 3.2 FSI S Line quattro tiptronic. That version costs £35,910, almost £10,000 more than the Saab, although that’s before any of the options needed to match the spec of the 9-3 have been selected.