Frankfurt Motor Show 2011

Saab pulls out of Frankfurt

In a rare display of carmaker poverty, Saab has pulled out of a major motor show because it can't afford to go.

It says that instead of spending fortunes on a lavish Frankfurt Motor Show stand, it will concentrate on more fundamental issues like keeping its Trollhattan factory going, and paying staff wages.

It is also working on developing the new 9-3 saloon - a car that, if it comes to market in time, might just save the company.

Saab has had a turbulent time over the last few years, and recently looked like it would have to close for good.

However, having been thrown a number of financial lifelines - including selling and leasing back its property - the maker is clinging on.

After being horrendously mismanaged by General Motors, it was sold to Dutch supercar maker Spyker early in 2010.

Spyker is failing, however, because Saab simply isn't selling enough cars: in 2010 it sold 30,000 - a quarter of what it needed just to break even.

Matters looked terminal for Saab in June, when it announced it could no longer afford to pay staff wages. Although loans and the recent sale of 582 cars to a Chinese buyer gave it a stay of execution, it is hanging on by a rusty camshaft.

Over the next few days Saab will be forced by Sweden's Debt Enforcement Agency to pay off some of its creditors to the tune of hundreds of thousands of pounds - a move that could bankrupt it. It's reported that over 100 debt claims against the company have been filed.

 

39 comments

  • bernie78  •  8 months ago
    didnt have much of a prayer when gm baled out on them
  • gavin wye  •  8 months ago
    Over the years I have had many company cars, none a SAAB, because I always came to the conclusion that volume producers offered greater value for money, eg Ford, Vauxhall and even bmw. tHAT IS WHY THEY NEEDED TO BE BOUGHT BY gm. uNFORTUNATELY THEY GOT IT WRONG TOO. Best of luck but I think its all over.
  • nemesis  •  8 months ago
    Its not a question about models. Saab has been mismanaged for so long that it is at the end of its life unless it gets a massive transplant of working capital and there doesn't seem to be anyone champing at the bit to rescue them.Perhaps if they had concentrated their efforts in just one direction and accepted that they would only ever be a niche market supplier they might have survived. As things stand today its thank you and farewell.
  • Nad  •  8 months ago
    Remember quite well the SAAB in the sixty's, they sound like a DKW . Later on the SAAB Sonet models hummm, sporty improvements, fancy but. In the eighteen, yess, love at first site. Drove one 99 Turbo, could catch to what a aircraft pilot could feel.
  • Jean  •  8 months ago
    ili was introduced to saab after part exching my escort calypso convertable which iregret parting withi love my saab but being a woman i wish it was escort size
  • Bill  •  8 months ago
    I worked with saab in edinburgh and i said to my boss, the trouble with saab is that they have never produced a car for women..it's all 9.3,9.5 too many models, but no small car for women. Ok they have the best convertable on the market, but costly, but its a big seller for women...Produce a small car and it will sell....
  • BazBoy  •  7 months ago
    Trouble is that no European manufacturer has a massive captive market, unlike China, India and Japan. We need to think cheap and good again - the manner in which we started. Let the orientals make the expensive stuff and we'll concentrate on the inovative stuff.
  • DAVID  •  8 months ago
    Sell yours cars cheaper Saab ,then your'll get your customers back and new ones...
  • MICHEAL B  •  8 months ago
    they pimp up vectras with body kits and r very boring
  • Tasmanian Devil  •  8 months ago
    Why not sell out russians?There much ready investors
  • M  •  8 months ago
    Tas, If advising Russian investors, I would wait for bankruptcy and buy the lot off the Liquidators and move the entire operation to Russia and build there, Sweden is too expensive and Russian workers could do a good job provided that the materials control is kept under rigid control. Kvant is a possible site.
    • Twilite Rider 8 months ago
      Russia keep materials control rigid?? ...........LMAO ...... besides would shipping costs not kill off sales to Most countries?? .....you need to rethink this one Mike ...
    • george d 8 months ago
      The Fiat 124 /5 was a good car until the Russians got their hands on it & produced the Lada!!! Moskvitch any one??
    • KALVIS 7 months ago
      Owners of Saab allready are russians, the same who owned dutch Spyker
  • George  •  8 months ago
    Just scrapped my wonderful SAAB 900 2.3 after 12 years exceptional service. Reluctantly replaced it with a very poor substitute: Volvo V50 2.0. Another Swedish marque ruined by the Americans. Perhaps SAAB should sell out to the Chinese, be built in Africa and go smaller and electric. Then many more would benefit, including the fairer sex.
  • bigt  •  8 months ago
    saab should go for the suv market as landrover has held it to long ,i have had 5 rrs the last one put me in a wheelchair not good on coustomer quality or service
  • Derek  •  8 months ago
    Shame really... my current car is a Saab 2.2td 9-5 estate which I bought when it was three years old and I've had it almost three years. Best car I've ever owned. Spacious, comfortable and economical - 43mpg around town. Never missed a beat and apart from tyres and brake pads all I've spent is £15 on a split hose. Know-it-all motoring journalists are probably to blame for the failure of the new 9-5 even before it hit the streets. Wish I could afford one.
  • Martin  •  8 months ago
    saabs are a great car to drive as good as my bmw , but its just the looks of some of them .
    cost too ,love my nephews ragtop turbo
  • howie  •  8 months ago
    GO BACK TO SAAB BASICS AND SELL LOADS; DONT TAKE ON RROVER YOU WILL NEVER MATCH THEM OR COME NEAR
  • Twilite Rider  •  8 months ago
    Too bad, SAAB used to make such a good car, now they're going tits up :(
  • bigt  •  8 months ago
    good car i have had 5 in 40 years of driveing should see more think it should go for the suv market
  • Rita  •  8 months ago
    I love the Saab cars. They have a very good safety record and very reliable, also so comfortable to drive. I learnt to drive in a Saab 99 hatchback. We had six in our family. Oh how I wish I could afford another one.
  • Paul  •  Durham, England  •  3 days ago
    was never a fan of saab don't like them never have never will look horrible had nothing to do with aircraft? bye bye saab they used vectra floor pan's so was it a vauxaab or is that saahall