How the mighty have fallen
SAAB were a Swedish company, established in 1937 as an Aeroplane manufacturer.
In 1944 the company took the radical step to move in to automotive production and production of the 92 began in 1947.
Powered by a 750cc 2 stroke engine transversely mounted ahead of the front axle the 92 featured such innovations as a built in safety cell for the occupants.
SAAB has had an interesting journey with ownership being shared by Swedish commercial vehicle manufacturer Scania for 20 years between 1969 and 1989. In 1989 General Motors acquired 50% of the company acquiring the remaining shares in 2000.
GM involvement opened a new chapter in SAABs history.
In the years leading up to GM’s involvement SAAB had developed as a strong, individual, quality brand.
The new owners GM introduced new models with shared platforms from their own models such as the Vectra.
SAAB had been struggling financially for some years previous to GM’s involvement but it is widely felt that sharing platforms with GM diluted the individuality of SAAB cars and some of the SAAB ‘character’ was lost, never to be replaced.
The later cars were considered less reliable and an inferior product but did however generate a profit for SAAB for the first time in 7 years.
As the global economic recession bit hard, GM brands struggled globally and in 2008 GM announced SAAB were under review as a viable brand.
GM entered into talks with various interested parties regarding selling the SAAB brand including Koenigsegg.
In 2009 Koenigsegg made GM an offer to buy SAAB with the backing of Beijing Automotive Industry Holding Co Ltd (BAIC) and a Norwegian investment group.
Unfortunately GM weren’t able to come to an agreement over terms and the deal collapsed.
BAIC did acquire the intellectual property rights and tooling to manufacture the previous model 9-3 and 9-5 along with engine technologies.
GM had allowed SAAB to slip into administration during this time and the brand was finally purchased in early 2010 by Spyker.
Spyker negotiated an agreement with GM which meant that GM would continue to supply parts, engines and even complete vehicles for part of the range.
There were some ambitious plans including re instating some export market territories that had been dormant, new dealerships and potentially shifting production to China.
Unfortunately Spykers plans didn’t come to fruition and sales fell wildly short of the ambitious sales projections In 2011.
The final chapter in SAABs history is a long winded, tumultuous, maelstrom summarised by suppliers refusing to supply due to unpaid invoice, halted production, wages not being paid and Spyker desperately courting various Chinese automotive manufacturers in an effort to secure further funding and resume production.
Spyker came close to brokering a rescue deal but at the 11th hour GM refused to allow the deal with a Chinese manufacturer and stated it would not
continue to supply SAAB and uphold the rights to GM patents and technology if Spyker continued in it’s negotiations with a Chinese manufacturer.
GM said it was not in their interest to allow a Chinese manufacturer to gain access to their technology.
Ultimately this left no way forward for SAAB and sadly the brand closed it’s doors.
Due to Sweden’s bankruptcy guidelines, a party that files can come out of bankruptcy. Therefore this may not yet be the end of SAAB. Never say die.
I’ve driven lots of SAABs over the years and can testify that they are strong, well built cars, very individual.
The 9000 2.3 CSE turbo was particularly quick as an executive express in the late ‘80’s. Just about 150mph and sub 7 second 0-60mph with 225bhp driving the front wheels.
I guess you could say the appeal of the brand was that it filled a niche and not another run of the mill Eurobox.
It is always saddening to see a truly unique marque fall by the way side.
Previous to GM ownership, SAAB made unique, distinctive, individualistic cars that attracted strong brand loyalty.
I am sorry to see them go and hope there will be some kind of resurrection in the future.