Saab

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Chevy, Ford, Buick, BMW among automakers with cars driving into the sunset

So long, Ford Ranger, Buick Lucerne, Dodge Dakota and Mazda Rx-8. Farewell, BMW Active Hybrid 6, Cadillac DTS and Chevrolet HHR. Nice to know you, Mitsubishi Eclipse, Nissan Altima Hybrid and Volvo S40 and V50. Take care Ford Crown Victoria, Mazda Tribute, Cadillac STS, Honda Element, Lotus Elise and California-based electric car start-up, Aptera. As for Saab and Maybach, both are joining the manufacturers' graveyard. In automotive year when perennial best sellers like the Ford F150, Toyota Camry and Honda Civic maintained their dominance, the ever-evolving auto industry experienced its share of change in 2011 — and losses of friends. More manufacturers began to offer hybrid and electric vehicles. Even iconic brands like Rolls Royce and Ferarri announced plans to

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Saab wings clipped, files for bankruptcy after 65-year lifespan

Saab, the 65-year-old carmaker whose motto was “made from jets,” has now been jettisoned into bankruptcy courts, ending a two-year quest to save the troubled Swedish manufacturer. The decision was made, according to a report in the Irish Times newspaper other media outlets, after its former owner General Motors blocked the latest takeover attempts by Chinese investors. Saab had been in discussions with several potential investors over the last two years. But the deals have fell through. Chinese suitor, Zhejiang Youngman Lotus Automobile had its proposal rejected late last week. Saab chief executive Victor Muller, who handed in the bankruptcy application to a court in Sweden yesterday, described the latest General Motors decision as “the last nail in the coffin

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Another Saab story: Chinese buy ailing Swedish carmaker

Chinese distributor Pang Da Automobile Trade and auto manufacturer Zhejiang Youngman Lotus Automobile have purchased Saab, the struggling 62-year-old Swedish automaker who proudly once marketed itself as "Built From Jets," for $142 million. If the transaction is completed by Nov. 15, it will designate the second time Saab has been purchased in the past two years. General Motors sold Saab to Swedish Automotive in early 2010 as part of its bankruptcy reorganization. Swedish Automotive is a Dutch company then known as Spyker, a high-end brand of hand-made sports cars. But Saab continued to struggle under the new ownership. China has become the largest market in the world for auto sales. Ford Motor sold its Swedish Volvo unit to Chinese automaker

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Saab 9-5, 2011 car review

The redone 2011 Saab 9-5 Saab can hold its own with top European sports/luxury sedans. The Swedish automaker once had a reputation for being a capable but offbeat (by U.S. standards) outfit with a distinguished aircraft design background. I once roared across Sweden in a new Saab turbocharged model on a media trip and toured the plant where Saab built jet fighter airplanes. General Motors bought part of Saab years ago, then purchased the entire outfit —leaving it pretty much alone during most of its ownership. That allowed Saab to continue making cars considered out of the mainstream by many Americans. But Saab was marginally promoted and thus wasn’t on shopping lists of many sports/luxury foreign car buyers. Nevertheless, its

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China's Hawtai invests in Spyker to prevent Saab's demise

Hawtai Motor Group of China seeks to invest about $220 million in exchange for stock to the Dutch carmaker Spyker in order for its Swedish brand Saab to continue plans for its 9-3 to be made in China beginning in 2013. A privately-owned Chinese carmaker, Hawtai makes SUV and passenger cars. Founded in 2005, it’s owned by Zhang Xiugen, among the country’s wealthiest entrepreneurs. Spyker took over Saab about a year ago from General Motors, although GM retains stock. Hawtai will now own about 30 percent of Spyker. Saab’s production has ceased in recent weeks after suppliers stopped delivery of parts because of unpaid bills. The Hawtai deal is the second time a Chinese company has invested in a Swedish

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Saab story: 500 new cars left in US, but Spyker purchase adds promise

The company’s current moniker is “The Well-Built Swede.” But while all of Saab‘s slogans have sounded great, none have proven particularly pertinent. As a result. just how far the carmaker had fallen during its 60-plus years was no more evident than it was during an interview with the Associated Press at the Geneva Auto Show. Saab‘s CEO  Jan Ake Jonsson said the company, purchased last December by Dutch automaker Spyker, has only 500 cars for sale in showrooms across the United States  “That number should probably be 5,000,” Jonsson said. General Motors Corp. sold Saab Automobile AB to Spyker Cars NV for $74 million in cash plus $326 million worth of preferred shares in Saab. The deal was completed last

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Spyker buys Saab in last-minute deal from GM for a reported $400 million

Saab owner General Motors announced the deal without financial details. Several Internet reports, without quoting sources, said the purchase price for Spyker was $400 million, with $74 million in cash. The remainder of the purchase is reportedly in deferred stock shares. Saab is seeking to borrow $564 million from the European Investment Bank, a loan that Sweden announced it will guarantee. Sweden said the EIB and European Commission were still reviewing the loan. Despite a loyal following appreciative of its distinctive style reminiscent of the Jets the manufacturer original made more than 50 years ago, the Swedish carmaker has failed to make money for about two decades. General Motors, which originally purchased half of Saab in 1989, was unable to

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Saab 9-7X, 2006: The Weekly Driver Car Review

My test ride for the week was the 4.2-liter, 6-cylinder 290-horsepower model. An 8-cylinder, 300-horsepower model is also available. More than 30 SUV options are available in the $35,000-$45,000 price range, but the 9-7X’s Saab traditions immediately differentiate the vehicle from rivals. Most noticeable is the Saab trademark center-console-mounted ignition switch. It’s a nice, practical function and a conversation item, for sure. But it’s also a little illogical considering a driver is required to look at the instrumentation panel to see what gear he or she has engaged. Like other Saabs, the automatic all-wheel drive 9-7X has superior design styles. The cargo area is spacious and features a 60/40 rear seat split rear seat  and automatically folding headrests. There are

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