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Koenigsegg interested in purchasing Saab?

05/29/2009, 10:12 AM

By Andrew Ganz

Though rumors abound as to just who the three top bidders for Saab are, a report out of Sweden today suggests that supercar manufacturer Koenigsegg is a front-runner. Interested in keeping Saab as a Swedish brand, Koenigsegg has apparently lined up financing to purchase the General Motors unit.


Sweden’s Dagens Industri newspaper cites undisclosed sources at GM who say that Koenigsegg and American financier Ira Rennert’s Renco Group are the leading bidders for Saab, though Italian automaker Fiat’s bid is also under consideration.

Fiat is the only confirmed bidder thanks to ebullient CEO Sergio Marchionne’s public expression of interest in acquiring as much of GM as possible.

The newspaper says that Koenigsegg has lined up a group of “very wealthy people” to help finance the purchase. Koenigsegg is part-owned by the Koenigsegg family.

Other potential bidders
Early reports indicated interest from China’s Geely Automobile Holdings, but few reports have surfaced indicating any further interest from the Chinese – especially after GM CEO Fritz Henderson indicated his disinterest in selling Saab to China. There has also been no news of the unnamed German commercial bank that was said to be interested in Saab.

Extension granted
Earlier this morning, a Vanersborg, Sweden, court granted Saab a three month extension from creditors to restructure its operations. Saab had initially been given three months to reorganize beginning in February, but as it has not yet found a buyer, the brand was granted the extension. Saab says it hopes to have a buyer squared away by early summer.

Saab officials have called the reorganization “the most comprehensive” ever done by the courts in Sweden.

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05/29, 10:15 AM

posted by:

idrinorbarsaku

oohhh WHATT? Sweet!!!

05/29, 10:17 AM

posted by:

AutoCritical

Being purchased by Koenigsegg will be fantastic for the brand, its loyal customers/fans, and for the country! I fear with any national brand when they are purchased by companies that may lose focus of the history behind it.

05/29, 10:19 AM

posted by:

AutoCritical

Oh, and it’ll make for some pretty interesting performance Saabs!

05/29, 10:27 AM

posted by:

Go Saab

It could be a marriage in heaven – or just a dream that ends in tears. I’ll go with Fiat as a good partner.

05/29, 10:30 AM

posted by:

Rafa LL

Sounds great. And their styles match. Koengisaab.

05/29, 10:36 AM

posted by:

JakeK66

This is good. It means the brand will be kept alive, in the US too, which I like to see. Their horrible resale value makes them an awesome used car purchase.

05/29, 10:41 AM

posted by:

S2L2SC

Hopefully we will be seeing nicer Saabs as a result of this. GM watered down the brand and dumbed down the products – Saab pretty much lost everything that made their cars unique.

05/29, 11:28 AM

posted by:

Borat

Jake, used cars on the market are for 2 primary reasons: got off lease and expensive to maintain. Since very few of Saabs were leased in the first place, they may not be a bargain as a secondhand car after all.

05/29, 11:40 AM

posted by:

A4

I APPROVE

05/29, 12:10 PM

posted by:

JakeK66

It’s gonna be awhile, S2L2SC, for anything not developed by GM to show up at a Saab showroom. Two models are coming out in the next year, the 9-4X and new 9-5, and both based on GM platforms. The new owner would be nuts to stop these cars from being a part of Saab since they have huge develpement costs already in them, as they are so close to production.

05/29, 12:28 PM

posted by:

JakeK66

@Borat –

I see pretty many of them around the midwest where I work off lease. You get a 4-year warranty to boot, 3 years of covered oil changes, so as long as you keep it under a certain amount of time, 2 years on a 2 year old car, you can get alot of use out of it. I saw a ‘07 Aero 9-3 fully loaded with only 18xxx miles for around $17,000 by my house, I call that a pretty good deal.

05/29, 12:55 PM

posted by:

Scarface03

Seems kind of odd that Koenigsegg would make a play for Saab. Is this strictly a financial investment? Is there any real world tech. from Saab that would beneift Koenigsegg or vice versa?

05/29, 1:24 PM

posted by:

F3INT))AP3X

As far as I see it Saab’s are loved by many but with their never-changing interior design and lack of competitive horsepower ratings they are often overlooked. Koenigesegg cars have completely unique designs inside and out and they are packed full of horsepower. Put these 2 together and you now have 2 winning brands =)

05/29, 1:30 PM

posted by:

beatusmongous

Very interesting twist of fate. Very cool.

05/29, 2:11 PM

posted by:

S2L2SC

@ JakeK66 – I am thinking more in terms of long term model development. It would be nice to see them bring back some of the quirky things that made Saab unique.

05/29, 2:15 PM

posted by:

Kid Icarus

This is great news for SAAB fans! Koenigsegg can return SAAB to it’s glory days of performance.

05/29, 2:24 PM

posted by:

Borat

Jake, I just don’t see large quantities of Saabs any longer. And those that I see are driven by much weirder and upcale folks that made Saab iconic. I could wrong, but for some reason they don’t sell and 4 door sedan does not help (or fuglly wagon with a slush box and Opel sourced V6).

05/29, 5:04 PM

posted by:

Mutant@DCX

Carbon fiber, 1000 hp, and price freeze for every Saab, is win win

05/29, 5:54 PM

posted by:

aggie531

keep it Swedish, keep it looking good and keep it running for a long time and not owned by government motors. (GM)

05/29, 8:44 PM

posted by:

orangecones

could go good.

@jake, isn’t the 9-3 aero just a Impreza WRX with different bumpers? My question is, how does that “deal” compare with an Impreza WRX with 18k miles…

05/29, 11:45 PM

posted by:

saabaru1

orangecones- thats what the 9-2x was, (read my screenname), but it was killed off when GM got rid of its share of Subaru a while ago.

Sounds like a good deal for saab, gm certainly stripped that brand for all it was worth. I doubt they will stick around in the US very long though. Every saab today is a gm car.

05/30, 7:15 PM

posted by:

Bremen_Koenigsegg

Clearly, we all want to see this happen. Being bought by Koenigsegg will instantly undo two decades of GM ownedness (and all the unpleasantness associated with that).

05/31, 8:55 AM

posted by:

AutoCritical

saabaru – do you know if the platform used on the newer saabs are ones from GM europe’s platforms, or a GM Daewoo platform?

 
 
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