Chery, the Chinese automaker that until recently formed a joint-partnership with Detroit automaker Chrysler LLC, has indicated that it is not interested in acquiring any of Detroit’s automotive assets, namely General Motors-owned Saab and Ford-owned Volvo. GM and Ford put Saab and Volvo up for sale last week in a last-resort bid to earn much-needed cash.
Earlier today, state-owned Chinese media outlets reported that Chery’s chairman indicated he was not interested purchasing either of the two Swedish automakers. China’s automakers have been strongly rumored as potential suitors for both brands.
Chery was recently infused with a $1.45 billion bank loan from the China Import-Export Bank. It has said that it will use the loan to improve its product quality rather than try to expand its brand portfolio.
Fellow Chinese automaker Dongfeng is apparently also monitoring Detroit’s situation, but it has not indicated whether it will make a bid for Saab, Volvo or any other asset Detroit is attempting to shed. Shanghai Automotive Industry Corporation and Changan have both expressed interest in Volvo, though it is not known how serious either company is.
12/09, 11:21 AM
posted by:
idrinorbarsaku
thank god!!
12/09, 1:08 PM
posted by:
howsmydriving
Maybe Volvo and Saab could be sold for scrap?
12/09, 1:21 PM
posted by:
andy
…so there wont be any kung foo fighting over saab?.. damn
12/09, 1:21 PM
posted by:
Borat
some sign of intelligent life out there
12/09, 1:36 PM
posted by:
HoosierHero
Is that the rebadged Subaru Impreza pictured they have??
12/09, 2:56 PM
posted by:
yarddog82abn
NOW THIS IS NOT FUNNY FOR THE SWISS…..
12/09, 3:17 PM
posted by:
andy
hoosierhero, the impreza wrx was the re-badged saab 92, but i think thats the 9-5 sport combi anyways
12/09, 4:43 PM
posted by:
inline6
Hoosier,
The pictured car is the 2006-09 Saab 9-5 SportCombi, which is based on a mix of the old Saab 9000 platform and the Opel/Vauxhall Vectra platform of the late ’90s. The Subaru-based Saab was the 2005-06 Saab 9-2x.
yarddog,
Saab and Volvo are based in SWEDEN. The Swedes/Swedish are from Sweden. The Swiss are from Switzerland. Look at a map once in a while.
12/09, 4:56 PM
posted by:
Mutant@DCX
Sweden is a densely populated country. It is popular for its traditional windmills, tulips, cheese, clogs (wooden shoes), delftware and gouda pottery, for its bicycles, and in addition, traditional values and civil virtues such as its classic social tolerance. Being an old parliamentary democracy, the country is more recently known for its rather modern, liberal policies toward drugs, prostitution, homosexuality, and euthanasia.
12/09, 5:01 PM
posted by:
A4
well if i was chery i certainly wouldnt want my cars getting any safer than they already are.. cough cough
and yeah the swiss? wtf?
12/10, 9:36 AM
posted by:
mazdaman
So Chery doesn’t want to purchase a Swedish auto company previously owned by an American auto corporation. That’s fine. Most Americans don’t want to own a rolling death trap designed and assembled by an incompetent Chinese auto company. I say we’re even.
Good luck with that whole improving quality thing…