Tag: muller

Muller says Saab could sell $10,000 Chinese autos in States

Filed under: China, Safety, Saab

spyker ceo victor muller

Saab has been in the news quite a bit lately, and mostly for the wrong reasons. But now that the Swedish automaker appears to have secured loans and buy-in from Hawtai Motors in China, Victor Muller and company are looking to go on the offensive.

Automotive News reports that the Spyker CEO is still talking China, but now he’s entertaining the possibility of partnering with a Chinese company to distribute low-cost autos in the U.S. Muller reportedly says that Saab could utilize its dealer networks in the U.S. and Europe to sell $10,000 Chinese vehicles in two or three years. And just because Saab struck a deal with Hawtai doesn’t mean that the Swedish automaker is restricting its plans to its newest strategic partner. Muller pointed out during an interview in Washington, D.C. that there are 120 companies in China, and that Saab is interested in “the one with a strategy.”

There are many hurdles for Chinese automakers to overcome to finally breach the U.S. market, not the least of which is passing federal safety standards. Muller acknowledges that a five-star-rated Chinese vehicle likely won’t happen any time soon, but he says that made-in-China SUVs can be had with tons of features for about $10,000, adding “Do you really worry about a five-star rating? They Look good.”

Hmmm. We’re guessing there will be plenty of buyers who don’t want to drive a vehicle with compromised safety capabilities, but a low price tag could cure those fears. Of course, we also can’t help but wonder how many luxury car shoppers will want to pay premium prices for Saab automobiles if they share showroom space with discount Chinese offerings – the Swedish automaker’s residual values have been problematic enough as-is.

Muller says Saab could sell $10,000 Chinese autos in States originally appeared on Autoblog on Wed, 11 May 2011 14:31:00 EST. Please see our terms for use of feeds.

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Reports: Volvo denies talk of Saab takeover,
Muller looking for partner in China

Filed under: Europe, Saab, Volvo, Earnings/Financials

Saab logo detail

It looks like Volvo and Saab won’t be teaming up to create one Swedish carmaker to rule them all. According to Reuters, Volvo has made it clear that the company has had no talks with Saab about buying the besieged automaker and that none are scheduled to take place. The Swedish newspaper De Telegraf had previously reported that the Swedish government was urging Volvo into talks with Saab about a potential takeover. The move would mean that a government loan previously granted to Saab by the European Investment Bank would have a greater chance of being repaid.

Saab has hit (further) rough waters in recent months with multiple supplier hiccups resulting in production stoppages including instances of the automaker being unable to pay for parts. In addition, sales fell well short of 2010 forecasts, resulting in a further cash crunch. The Swedish automaker has since performed a few economic stunts to get production rolling again, including selling the company’s properties and re-leasing them at a lower cost.

In related matters, Automotive News reports that Saab CEO Victor Muller is looking to broker a deal with a Chinese automaker to help finance the company, although it is understood that Beijing Automotive Industry Holding Co. is not one of those parties. BAIC, you may recall, purchased old Saab assets (the previous generation 9-3 model, among other things) back in 2009 for $200 million, and it also expressed interest in buying Saab from General Motors before Muller’s Spyker stepped in and completed the purchase.

[Sources: Reuters, Automotive News]

Reports: Volvo denies talk of Saab takeover,
Muller looking for partner in China originally appeared on Autoblog on Fri, 22 Apr 2011 13:59:00 EST. Please see our terms for use of feeds.

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Muller looking for partner in China”

Report: Muller to let investors know in May if Saab will go public

Filed under: Saab, Earnings/Financials, Spyker

saab 9-4x grille

In the past year, Saab has gone from a near-death experience to an automaker searching its audience. The Spyker-owned automaker claims it is looking for about 120,000 annual sales, but it expects to be profitable by 2012. While the company has a long way to go before sniffing those meager totals, Saab owner Victor Muller is still thinking about going public in the company’s home market.

Bloomberg reports that Muller says the company will announce whether it will enter the Swedish stock market at its annual shareholder meeting on May 19. You’re probably wondering why a company would discuss going public at a shareholder meeting. The short answer is that Saab is already present and accounted for on the Amsterdam Euronext. And even with very lean sales totals for 2010 while the company struggled to restart production and reinvigorate its supplier chain, the stock is Amsterdam’s third highest gainer of 2010, with reported gains of 63 percent.

While Muller and company are considering whether to enter the Swedish stock market, the reborn automaker claims to have no intention of diluting shares to raise additional funds. Instead, Saab is considering opening up to both stock markets simultaneously with the potential to switch to only the Swedish market for future investment purposes. Muller says the company doesn’t “foresee any share issue at this time, but who knows, maybe in many years it becomes a vehicle for future funding.”

[Source: Bloomberg]

Report: Muller to let investors know in May if Saab will go public originally appeared on Autoblog on Thu, 06 Jan 2011 16:01:00 EST. Please see our terms for use of feeds.

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A Conversation with Saab’s Victor Muller and Jan-Ake Jonsson

Filed under: Saab

Victor Muller of Saab

Victor Muller, Saab Chairman and CEO of Spyker

The news Saab has been making in the past few months – the defection of its sales director, declining sales numbers, worker layoffs – runs counter to the feel-good story of the brand’s very existence. On the other side of that, though, the brand is still here, there’s a resurrected factory in Sweden still pumping out cars, Jason Castriota is still working on an anxiously anticipated 9-3, and the 9-4X – unveiled to general acclaim recently at the LA Auto Show – is just months away from retail.

That’s a lot going on for such a small, and new, company. We sat down with Saab chairman Victor Muller and president Jan-Ake Jonsson to find out what makes the 9-4X a real Saab, how the 9-3 is progressing, and where the 9-2 and ePower rank on the company’s to-do list.

Follow the jump for the story.

[Image: Gabriel Bouys/AFP/Getty]

Continue reading A Conversation with Saab’s Victor Muller and Jan-Ake Jonsson

A Conversation with Saab’s Victor Muller and Jan-Ake Jonsson originally appeared on Autoblog on Wed, 01 Dec 2010 14:58:00 EST. Please see our terms for use of feeds.

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Report: Muller in talks with three automakers about Saab 9-2 revival

Filed under: Saab, Spyker

Eduard Gray’s Saab 92010 Sixten concept – Click above for high-res image gallery

Saab has already talked up its hopes for entering the forthcoming 9-2 in a future installment of the World Rally Championship. But before it can, the 9-2 needs to exist. And before that can happen, Automotive News reports that Saab needs the technology and money from a partner automaker. A recent rumor surfaced that Saab was talking to BMW about building the 9-2 on the Mini chassis. At the same time, another rumor came to light that Saab was discussing using Mini engines for the next 9-3.

Now word has it that Spyker’s Victor Muller is in talks with three companies about getting the help necessary to build the 9-2. Muller hasn’t disclosed the companies’ names, but we assume one of them is BMW. The hook is that the cost of the 9-2 wasn’t included in the turnaround plan, so Saab needs its chosen partner to injects some cash as well. The model has yet to be officially confirmed, of course, so at this point, it isn’t even clear that a teardrop Saab will get off the ground at all.

Gallery: Saab 92010 Sixten Concept by Eduard Gray

[Source: Automotive News – Sub. Req.]

Report: Muller in talks with three automakers about Saab 9-2 revival originally appeared on Autoblog on Mon, 30 Aug 2010 18:26:00 EST. Please see our terms for use of feeds.

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