According to sources of Svenska Dagbladet, three bidders on the Saab bankruptcy estate have now been reduced to two.
Last week news came through that the bankruptcy administrators would choose two preferred bidders with whom to negotiate a sale of the Saab bankruptcy estate. Now sources of SvD confirm that only two bidders remain and these two bidders are Chinese Zhejiang Youngman Lotus Automobile and Indian Mahindra & Mahindra. A third bidder, said to be Japanese Panasonic and Chinese BAIC working with Swedish parties, has left the bidding. But a return for part of that consortium could be possible through an alliance with Mahindra.
A factor that could put extra pressure on the administrators to reach a quick sales deal, is the report that Hemfose, which last year bought half of the Saab property company, will demand rent from the administrators from May 15th and forward. Rent that would amount to millions and strain the economy of the estate.
All this now point to a Saab sale done shortly and possibly within the end of May.
A blog fueled by enthusiasm about Saab, the greatest car company between the North and the South Pole. And their cars, which probably is the only cars that would start on a cold and crispy South Pole morning.
Friday, May 11, 2012
Thursday, May 10, 2012
Former Saab managers move on
It's almost been five months since Saab Automobile filed for bankruptcy. In these five months many former Saab employees have found new jobs. In Sweden there is a great demand for engineers and many of the Saab engineers have moved on to new jobs. But also Saab's top management has moved on.
Former Saab Executive Director of Communications, Eric Geers, will start working for Chinese Qoros. Qoros is a new car brand to be launched at the Geneva Motor Show next year. A sedan, a coupé and a SUV will be launched next year. The cars will be produced by Magna Steyr.
"My job will be to build an organization that will handle the information and communication towards Europe," Eric Geers told TTELA.
Also many former Saab engineers, as well as people from Volvo, BMW and Volkswagen have been recruited by the Chinese company. Geers will still live in Sweden, but commute to China.
Also former Saab Vice President Vehicle Product Development, Mats Fägerhag, has gotten a new job. He found his new job a little closer than Geers did. Fägerhag will be in charge of Volvo's new Alliance Office. His jobb will be to handle cooperations and alliance projects in product development.
Former Saab Executive Director of Communications, Eric Geers, will start working for Chinese Qoros. Qoros is a new car brand to be launched at the Geneva Motor Show next year. A sedan, a coupé and a SUV will be launched next year. The cars will be produced by Magna Steyr.
"My job will be to build an organization that will handle the information and communication towards Europe," Eric Geers told TTELA.
Also many former Saab engineers, as well as people from Volvo, BMW and Volkswagen have been recruited by the Chinese company. Geers will still live in Sweden, but commute to China.
Also former Saab Vice President Vehicle Product Development, Mats Fägerhag, has gotten a new job. He found his new job a little closer than Geers did. Fägerhag will be in charge of Volvo's new Alliance Office. His jobb will be to handle cooperations and alliance projects in product development.
Wednesday, May 9, 2012
Saab Sonett V4 steering wheel
I have now owned a 1968 Saab Sonett V4 for one and half week. And I have to say that I am very happy with my purchase. But there are always a few details to improve. At the moment I have laid my eyes on the steering wheel. The car has the 1969 Sonett steering wheel. It's a fairly plain black steering wheel. Three black spokes, a black center and black leather imitation. And because of the age and wear, it needs an upgrade.
What should I upgrade to? So far I have looked at British Moto-Lita steering wheels, Italian Nardi and the Saab Sport&Rally wheel. The Moto-Lita and Nardi wheels are available in both leather and wood and both black and polished rims. The Saab Sport&Rally is a leather wheel with black rims.
So what will be the most fitting to the Sonett interior? I have of course a few opinions of my own, but what do you think?
Saab Sonett V4 interior
Worn steering wheel
What should I upgrade to? So far I have looked at British Moto-Lita steering wheels, Italian Nardi and the Saab Sport&Rally wheel. The Moto-Lita and Nardi wheels are available in both leather and wood and both black and polished rims. The Saab Sport&Rally is a leather wheel with black rims.
So what will be the most fitting to the Sonett interior? I have of course a few opinions of my own, but what do you think?
Moto-Lita Leather
Moto-Lita wood
Nardi Wood with black stripe
Saab Sport&Rally
What steering wheel will look the best?
Thursday, May 3, 2012
Customized Saab Sonett III
Here's a customized Saab Sonett III from Germany. As far as I can understand, this car was once a yellow Sonett belonging to a US soldier stationed in Germany. But one night the car was vandalized. The car was badly damaged with many cracks in the fiber glass body. Heartbroken the soldier sold the Sonett to a used car salesman, but the salesman just let the car deteriorate. It was further vandalized when the front and read windows were smashed in. And now the Sonett was parked outside in the rain and slowly dying.
But this story has a happy ending. The car was then bought by a young man who wanted to build his very own sports car, and the Sonett was a perfect starting point. And so the work began...
The car now has a rear mounted turbo engine from a Saab 900. It is rear wheel drive and as you can see from the pictures the rear is completely redesigned.
But this story has a happy ending. The car was then bought by a young man who wanted to build his very own sports car, and the Sonett was a perfect starting point. And so the work began...
The car now has a rear mounted turbo engine from a Saab 900. It is rear wheel drive and as you can see from the pictures the rear is completely redesigned.
Wednesday, May 2, 2012
Indian Mahindra said to be favorite to buy Saab
As reported earlier today, the Saab bankruptcy administrators will now start negotiations with two of the bidders for Saab. These two bidders are said to be Chinese Youngman and Indian Mahindra. And according to Swedish Radio P4 Väst, Mahindra is the favorite of the two.
Swedish Radio reports that the negotiations with the bidders will start this week, but so far neither Youngman nor Mahindra have arrived in Sweden for negotiations. To Swedish TV SVT Pang Qingnian of Youngman last weekend said that they are not in a hurry.
"We can wait. There is no hurry. This kind of deal can not be hurried," Pang Qingnian said.
Eventhough Mahindra now is said to be "in pole position", the winning bid will probably be the highest bid. Pang Qingnian would not say how much Youngman is willing to pay.
"This is not the right time to talk about amounts. We have placed a bid, but if the administrators want to discuss it with us, then we will be available."
Swedish Radio reports that the negotiations with the bidders will start this week, but so far neither Youngman nor Mahindra have arrived in Sweden for negotiations. To Swedish TV SVT Pang Qingnian of Youngman last weekend said that they are not in a hurry.
"We can wait. There is no hurry. This kind of deal can not be hurried," Pang Qingnian said.
Eventhough Mahindra now is said to be "in pole position", the winning bid will probably be the highest bid. Pang Qingnian would not say how much Youngman is willing to pay.
"This is not the right time to talk about amounts. We have placed a bid, but if the administrators want to discuss it with us, then we will be available."
Two preferred bidders to be chosen shortly
In an interview with Swedish TV, SVT, Pang Qingnian of Youngman said last weekend that the Saab bankruptcy administrators will decide on two preferred bidders within two weeks and then enter into negotiations with these two bidders. Earlier the administrators have said that the goal is to have a deal before summer.
To SVD Pang Qingnian confirmed that Youngman wants to acquire the complete bankruptcy estate and that all former employees are welcome back to Saab.
In other words, hang in there folks, looks like a decision will be reached shortly!
To SVD Pang Qingnian confirmed that Youngman wants to acquire the complete bankruptcy estate and that all former employees are welcome back to Saab.
In other words, hang in there folks, looks like a decision will be reached shortly!
Tuesday, May 1, 2012
Last leg of my trip to buy the Sonett
Today I have traveled the last leg of my trip to buy and transport home a Saab Sonett. At seven o'clock in the morning the Hurtigrute ship arrived in Trondheim, the third largest city in Norway. Trondheim is best known for the Nidaros Cathedral, founded in 1070 on the burial ground of Saint Olaf of Norway, and a destination for pilgrims coming from all of Northern Europe.
On this early Tuesday May 1st (a public holiday in Norway) the roads were more or less deserted. I drove through the city without stopped for traffic even once. The journey took my south east and my first break was on the Dovre mountain pass.
On the top of Dovre the mountain tops were still covered in snow, but fortunately the road was dry and free of snow and ice. The weather was wonderful. Blue sky and a warming sun.
Driving over Dovre was actually a small detour. The reason for the detour was located in Grimsbu. From Dovre I drove down Folldal and came to Grimsbu. And I am very glad I made this detour, or else I wouldn't have this next picture to show you.
From the classic BP gas station in Grimsbu, I drove straight home. And after eight hours in the car, with only a handful of 10-15 minutes breaks, I have to say that I am surprised how comfortable the seats and the sitting position in the Sonett is! I am really starting to love this car. But let's talk more about the Sonett loving in a later post.
Ps: In case you wondered if the Sonett came from the two day sea journey unharmed, I'm pleased to say yes. When I went down to the car deck to get the car, the seaman at the car deck told me that they had had to moved the car a little back and forth in order to place fenders around it. Thank you Hurtigruten, for taking such good care of your goods, and of your guests as well. I promise I will return for another journey!
On this early Tuesday May 1st (a public holiday in Norway) the roads were more or less deserted. I drove through the city without stopped for traffic even once. The journey took my south east and my first break was on the Dovre mountain pass.
Dovre mountain pass
On the top of Dovre the mountain tops were still covered in snow, but fortunately the road was dry and free of snow and ice. The weather was wonderful. Blue sky and a warming sun.
Top of the mountain pass Dovre
Driving over Dovre was actually a small detour. The reason for the detour was located in Grimsbu. From Dovre I drove down Folldal and came to Grimsbu. And I am very glad I made this detour, or else I wouldn't have this next picture to show you.
Fill her up with leaded premium fuel, please
From the classic BP gas station in Grimsbu, I drove straight home. And after eight hours in the car, with only a handful of 10-15 minutes breaks, I have to say that I am surprised how comfortable the seats and the sitting position in the Sonett is! I am really starting to love this car. But let's talk more about the Sonett loving in a later post.
Ps: In case you wondered if the Sonett came from the two day sea journey unharmed, I'm pleased to say yes. When I went down to the car deck to get the car, the seaman at the car deck told me that they had had to moved the car a little back and forth in order to place fenders around it. Thank you Hurtigruten, for taking such good care of your goods, and of your guests as well. I promise I will return for another journey!
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