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Report: Swedish gov’t. working on freeing up Saab loan

Filed under: Government/Legal, Plants/Manufacturing, Saab, Earnings/Financials

Saab sign at auto show in a blur

The last few weeks haven’t been easy for Saab, as the Swedish automaker has had to stop production twice due to supplier issues. Not just any problems, either, as the suppliers wanted to get paid, and Saab simply didn’t have the cash. That led to widespread speculation that the automaker was destined to shutter only a year after Spyker purchased the company from General Motors.

Now Bloomberg is reporting that the Swedish government is looking into getting a bank loan to float the company for the short-term. The loan will most likely come from Bankas Snoras in Lithuania, which is run by Russian investor Vladimir Antonov, who has attempted to buy into the brand since GM originally put it up for sale.

The Swedish government is fighting for more than just a few thousand, albeit important jobs as well. Sweden backed Saab’s 400 million-euro ($577 million) loan from the European Investment Bank, likely leaving the Swedish taxpayers on the hook for a hefty bill if the automaker goes south.

Bloomberg sources say lawyers are working on a deal that would float the automaker $48 million while the government approves the involvement of Antonov. Once approved, the Russian investor would then add 50 million Euro ($72 million in U.S. funds) to Saab’s coffers in exchange for a 30 percent stake in the company.

We’re thinking this deal will get done and Saab will be able to pay its suppliers. But whether the Swedish government and Antonov are throwing good money after bad is another matter. We’ll continue to follow this situation as it unfolds.

[Source: Bloomberg | Image: Fabrice Coffrini/AFP/Getty]

Report: Swedish gov’t. working on freeing up Saab loan originally appeared on Autoblog on Mon, 11 Apr 2011 13:01:00 EST. Please see our terms for use of feeds.

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Report: Next-gen Saab 9-3 will get through-the-road hybrid tech

Filed under: Hybrid, Sedan, Saab

Saab 9-3

Saab has big plans for the next generation 9-3, and a hybrid variant is apparently in the mix. The Detroit Bureau reports that the hybrid would be of the “through-the-road” variety, enabling torque-vectoring all-wheel drive while also improving fuel economy.

A through-the-road hybrid utilizes a completely independent electric motor that motivates only the rear axle. The system is less expensive than the parallel hybrid tech you’ll find in a Prius, for example, while still potentially providing a low-speed electric-only mode and regenerative braking.

Saab management reportedly told The Bureau that the turbocharged 2.8-liter V6 currently in use in the 9-5 would motivate the front wheels, while the electric motor and clutch assembly would work its magic out back. The new clutch assembly routes power to either of the rear wheels in a fraction of a second, helping the 9-3 stay on course regardless of the conditions. This setup will reportedly improve performance and agility, while negating the need to run a driveshaft from the engine to the rear axle. The end result is a simpler, lighter drivetrain, and we’re sure the overall gains in fuel economy won’t be to shabby, either.

[Source: The Detroit Bureau]

Report: Next-gen Saab 9-3 will get through-the-road hybrid tech originally appeared on Autoblog on Thu, 24 Mar 2011 13:31:00 EST. Please see our terms for use of feeds.

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2012 Saab 9-3 hatchback confirmed – but is a sedan?

Filed under: Hatchback, Saab, Design/Style, Luxury

Saab PhoeniX concept car

Saab PhoeniX Concept – Click above for high-res image gallery

We’re in Washington D.C. this week attending the embargoed long-lead event for the 2011 Saab 9-4X, but that hasn’t stopped us from inquiring about other key new products from the House of Griffin.

We’ve already seen mules of the next-generation 9-3 range undergoing testing, but thus far, we haven’t seen any production bodywork or learned much in the way of specifics. A purist’s return-to-form hatchback model has been rumored for some time now, and thanks to Magnus Hillerborn, Saab’s Vehicle Validation Engineer, Autoblog can now confirm that a five-door is indeed headed into production along with the expected convertible variant. Interestingly enough, what isn’t yet confirmed for the 2012 9-3 is a sedan bodystyle.

The next 9-3 was nearly finalized when Spyker purchased Saab last year from General Motors, but Victor Muller and Co. felt that there was so much work to be done that new chief designer Jason Castriota set immediately to work on making the new car more ‘Saabish.’ The changes are so significant that Hillerborn says he imagines GM executives will be “very surprised” when they see the production car, which is tipped to take design cues from the PhoeniX concept car that debuted earlier this month at the Geneva Motor Show. Hillerborn says that the hatchback will likely be five-door only (presumably a SportCombi wagon variant will follow), though we imagine there are some three-door renderings knocking about in Trollhattan. Hillerborn promises a very sleek and unique hatchback, one that should appeal to traditional sedan buyers as well (read: not bulbous and overtly hatch-like, but more streamlined).

A modestly retouched 2011 9-3 range debuted in Geneva alongside the PhoeniX showcar, but it will only have to hang on for about a year before the all-new generation appears. A traditional 9-3 sedan is under consideration and would likely help move some units in the U.S., but it apparently has not yet been signed off on, meaning that the five-door will form the heart of the range. With Saab’s sales in a slump in nearly all of its world markets, one thing is for sure: the new 9-3 can’t arrive soon enough.

Gallery: Saab PhoeniX Concept: Geneva 2011

Saab PhoeniX Concept

Gallery: Saab Phoenix Concept

2012 Saab 9-3 hatchback confirmed – but is a sedan? originally appeared on Autoblog on Wed, 23 Mar 2011 19:30:00 EST. Please see our terms for use of feeds.

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Report: Saab to use new modular platform for next 9-3

Filed under: Saab, Rumormill, Design/Style

Saab 9-3

According to Autocar, Saab is itching to go modular. The company is apparently walking away from plans to significantly update its plan to run a much-modified General Motors Epsilon I architecture in favor of a new strategy that includes a clean-sheet design. Autocar cites unnamed sources inside the company’s headquarters who have indicated that engineers are currently whittling away on a versatile platform that will form the basis of everything form a diminutive 9-2 to a lengthy 9-7 and everything in between. That includes the confirmed-for-production 9-3, 9-5 and 9-4x. Autocar believes that the rumored 9-1 will use different bones.

That all sounds good, but the news runs completely against the grain of everything we’ve heard about the company’s production plans so far. Victor Muller, the company’s CEO, has previously told Autoblog that the 9-3 successor will be based on a much-modified version of the Epsilon I architecture that’s so thoroughly altered that Saab will be able to claim the chassis as its own intellectual property. As the next 9-3 is part of Saab’s fully funded business plan, we have trouble seeing the Swedish automaker going to the considerable added expense of developing an all-new, from-scratch platform – particularly when global sales of the firm’s current range have been slow to take off.

[Source: Autocar]

Report: Saab to use new modular platform for next 9-3 originally appeared on Autoblog on Wed, 16 Mar 2011 15:30:00 EST. Please see our terms for use of feeds.

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Saab hires Saabs United blogger Steven Wade as social media guru

Filed under: Etc., Hirings/Firings/Layoffs, Saab

Steven Wade has been cranking out blog posts about all things Saab for the last six years at the helm of Saabs United, a blog he helped create. Eventually, the strains of a family, full-time job and keeping Saabs United afloat meant that selling the site was necessary. Meanwhile, ‘Swade,’ as he is known, decided to quit his day job to focus on his love for all things Saab.

With the day job out of the way, the newly unemployed Wade has now been picked up by Saab to handle social media duties as the company tries to connect more with its customer base. Needless to say, this is a huge step for Wade, who will be helping Saab connect with its loyal base of customers and fans on an intimate level.

We can’t think of a better man for the job, given Swade’s immense talent, knowledge of Saabs, of love for the brand. Good luck and Godspeed. The automaker’s official statement is yours for the reading after the jump. Thanks for the tip, Johan!

[Source: Saab via Saabs United]

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Saab hires Saabs United blogger Steven Wade as social media guru originally appeared on Autoblog on Tue, 15 Mar 2011 18:32:00 EST. Please see our terms for use of feeds.

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Report: Russian investor Antonov believes Saab will miss 2011 sales target

Filed under: Saab, Earnings/Financials

Saab logo

Russian investor Vladimir Antonov says that Saab will miss its sales target of 80,000 vehicles this year. According to Reuters, Antonov helped Spyker buy Saab last February, and is looking at taking over Spyker’s sports car operations. Antonov also said that missing the sales goal would mean capital problems for Saab.

Victor Muller, CEO of Saab-parent Spyker Cars, dismissed Antonov’s statements as bogus. According to Reuters, Muller called Antonov’s comments “complete nonsense,” and said that Spyker was staying with its sales goals for Saab.

Spyker is in hot water, too, operating at a loss last year and looking for investors, including Antonov.

Antonov told the Swedish press that he sees Saab moving closer to 65,000 cars for 2011. Saab brass say the company is on target to make its sales goal, but are more concerned with sticking to its new business plan than meeting a specific sales target. According to Reuters, Saab moved 31,696 cars in 2010, after cutting its sales goal from 45,000 to 30,000.

[Source: Reuters | Image: Chris Paukert/AOL]

Report: Russian investor Antonov believes Saab will miss 2011 sales target originally appeared on Autoblog on Thu, 10 Mar 2011 14:32:00 EST. Please see our terms for use of feeds.

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Video: Chris Bangle hassles Saab designer Jason Castriota over PhoeniX concept

Filed under: Coupe, Geneva Motor Show, Etc., Videos, Saab, Design/Style

chris bangle and jason castriota

Chris Bangle and Jason Castriota discuss Saab PhoeniX – Click above to watch video after the jump

In the left corner, from Wausau, Wisconsin, we have Christopher “Flames are Surfacing” Bangle. In the right, from the mean streets of Greenwich, Connecticut, stands Jason “Let Me Out of My Birdcage” Castriota. Alright, gentleman… we know you are both highly accomplished automotive designers, but we want to keep this thing clean. Gloves up, and come out swinging!

The controversial former BMW head and new Saab stylist were caught chatting about the Swedish automaker’s new PhoeniX Concept on the Geneva Motor Show floor by CarDesignNews. Known for being an instigator, Bangle questions Castriota about what makes the swoopy coupe a Saab. The ensuing “conversation” is filled with awkward fake-smiles and restraint. Click past the jump to see the footage along with a separate video walkaround of the concept by Castriota himself.

Gallery: Saab PhoeniX Concept: Geneva 2011

Saab PhoeniX Concept

[Sources: CarDesignNews via Jalopnik, Saabs United]

Continue reading Video: Chris Bangle hassles Saab designer Jason Castriota over PhoeniX concept

Video: Chris Bangle hassles Saab designer Jason Castriota over PhoeniX concept originally appeared on Autoblog on Wed, 02 Mar 2011 16:40:00 EST. Please see our terms for use of feeds.

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Geneva 2011: 2012 Saab 9-5 SportCombi is one sharp cargo-hauler

Filed under: Wagon, Geneva Motor Show, Saab

2012 Saab 9-5 SportCombi

2012 Saab 9-5 SportCombi – Click above for high-res image gallery

We’re glad to see that the Saab 9-5 SportCombi is looking good once again. During the General Motors-influenced mid-2000s, the 9-5 took on a bit of a weird shape (those chrome-ringed Dame Edna headlamps were just awful), and thus, the subsequent wagon variant wasn’t nearly as special as the generation that debuted in the late-1990s. That all changes now, as Saab has officially pulled the wraps off of the SportCombi of the new 9-5, and might we say, hubba hubba.

Aside from the addition of some rear windows and some sheetmetal, nothing significant has changed in the 9-5’s transition from a sedan to a proper station wagon. Both the 2.0-liter turbocharged inline-four and 2.8-liter turbo-six will still be on hand, with the larger engine paired to the automaker’s XWD all-wheel-drive system. Look for production to start later this year.

Gallery: 2012 Saab 9-5 SportCombi: Geneva 2011

Gallery: 2012 Saab 9-5 SportCombi

2012 Saab 9-5 SportCombi

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Geneva 2011: 2012 Saab 9-5 SportCombi is one sharp cargo-hauler originally appeared on Autoblog on Tue, 01 Mar 2011 18:57:00 EST. Please see our terms for use of feeds.

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Saab 9-3 Convertible Independence Edition officially revealed prior to Geneva debut

Filed under: Convertible, Saab

Saab 9-3 Convertible Independence Edition

Saab 9-3 Convertible Independence Edition – Click above for high-res image gallery

A couple of days after reports of a special edition Saab 9-3 surfaced in celebration of the company’s independence from General Motors, the automaker has confirmed its particulars and corrected a few details along the way.

The 9-3 Independence Edition celebrates not only Saab’s liberation out from under the GM umbrella, but also the 25th anniversary of the company’s first convertible. It’s based on the Aero trim model, but while earlier reports suggested it could get the 220-horsepower 2.0-liter turbo from the 9-5, the special edition is actually driven by a 1.9-liter diesel four with 180 horses and a six-speed automatic.

Amber Orange metallic is the dominant color, coating the exterior and highlighting the cabin with trim on the parchment leather sport seats and stitching on the steering wheel. There’s also grey piping on the floor mats and carbon-look leather on the instrument panel, levers and handles. And while those special 18-inch wheels may look like they’ve got five spokes, but actually have twenty.

Only 366 examples of the Independence Edition will be made in all – one for each day of this year and another to kick off the next. Follow the jump for the press release and check out the pair of images in the gallery below.

Gallery: Saab 9-3 Convertible Independence Edition

[Source: Saab]

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Saab 9-3 Convertible Independence Edition officially revealed prior to Geneva debut originally appeared on Autoblog on Wed, 23 Feb 2011 16:01:00 EST. Please see our terms for use of feeds.

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