IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Wednesday, May 11, 2011

Victor Muller explains the cash crunch

Victor Muller recently held a presentation for the press who had assembled in Washington D.C. for the launch of the new Saab 9-4X. TheCarConnection has written a piece on this. Here are some excerpts from the article of what Victor Muller said.

"Everything in Saab was GM—GM financing, GM terms, GM suppliers, and these things of course start to come apart when you become an independent player."
"Unfortunately on the 29th of March we called the bluff of one of our suppliers who said that if you don't do what I want, I'm not going to open the doors of my truck, and if I don't open the doors of my truck, you're not going to get the parts. Well, he was serious, and we screwed up. Because it caused a production stoppage of two hours."
"Within two hours of that stoppage, we didn't have one supplier with a problem. We had 92. And that started to completely unravel it."
"There's only one person to blame for this, and that's me; because I should have been prepared. It should have never happened. But it did."

Then hope a lesson is learned and from here it can only go upwards!