Saab JMK Blog

SAAB NJ, of Springfield honors Armed Forces with $1,000 discount

We at JMK Saab would like to wish you and your families a safe and happy
Memorial Day weekend!
There are already thousands of dollars in savings on new vehicle leases and purchases - but starting today in addition to these savings we are offering up to $1,000.00 off of any new or pre-owned Saab in inventory.
Offer ends on May 31st Our hours of operation for Sales department over the holiday weekend will be as follows Friday May 27th 8:30 -7;00  Saturday May 28th 9:00-5:00  Sunday – closed  Monday May 30th – Closed  Tuesday May 31st 8:30-7:00
Stop by and test drive a Saab today!

 

Specials Guests Visit JMK Saab

Last week we were honored to have Victor Muller, CEO of Spyker Saab (pictured left) and Jan Ake Jonnson, CEO of Saab Automobile pay us a visit here at JMK Saab. 

Also paying a visit were Adrian Hallmark, Director of Saab Sales and Marketing (Sweden) and Mike Colleran, President and COO of Saab Cars NA.

Victor Muller - CEO Spyker Saab (L) and Jan Ake Jonnson - CEO Saab Cars (R) address the staff of JMK Saab

Of the many special moments occurring during the visit, Mr. Muller seemed to take a liking to our 1973 Saab Sonett III parked in the center of the showroom. Not being able to resist any longer, Victor asked Cathi Maier, General Manager and Dealer Principal, if it was okay to sit in the car. "Victor, after all you have done for Saab, you can sit anywhere you like" was Cathi's response.

The question many of us wondered is whether Victor, being 6'5", would actually fit in the car.  He did, with room to spare.  The smile on his face tells you, this man truly is a car enthusiast.

Victor Muller behind the wheel of Charlie, JMK Saab's 1973 Saab Sonett III

A memorable quote from Victor's address: "

"The war over Saab was not won in Trollhattan, it was won in Detroit. It never would have happened if the American dealers (Saab) would not have rallied so intensely to save the company. It made all the difference."

 

 

Spyker Cars Finalizes Deal to Purchase Saab

Spyker Cars finalizes purchase of Saab

•  Spyker Cars finalizes deal over the purchase of Saab
•  Transfer of ownership has taken place
•  Saab exits liquidation and the management are back in control
•  Transaction signals the start of an exciting new era for Saab
•  Saab+Spyker to operate under parent company Spyker Cars N.V.

Trollhättan, 23.2.2010.  Spyker Cars N.V. today confirmed it has finalized the deal with General Motors Company to purchase Saab Automobile AB.  The transfer of ownership took place at 16.30 CET on February 23.  Prior to the close of the deal Saab exited liquidation and control was reinstated to Jan Åke Jonsson, Saab Automobile’s CEO, and his management team.  Going forward Saab Automobile and Spyker Cars will operate as sister companies under the umbrella of the Amsterdam Euronext listed parent company Spyker Cars N.V. (Ticker symbol:SPYKR).  This transaction secures the future of Saab Automobile and signals the start of an exciting new era for the iconic brand. 

Victor Muller, CEO of Spyker Cars NV said:  “We are delighted - Saab’s future is now secure.”  He continued:  “From today we will be concentrating all of our efforts into reviving Saab and transforming it into a sustainable and profitable company with the confidence to be bold.  We will reinforce the emotional experience between Saab drivers and their cars and we will focus on Saab's historical strengths in the fields of independent thinking, aircraft heritage, ecological performance and motorsport.

“Through this acquisition we add approximately 15 euros per share in equity and 60 euros of assets.  With a well funded business plan in place we are looking forward to working with Saab’s management on the realization of that plan and bringing exciting new products to our customers. Real Saabs, Saab Saabs.” 

Jan Åke Jonsson, CEO of Saab Automobile AB said:  “Today’s announcement is great for Saab’s customers, dealers, suppliers and employees around the globe, the level of passion and support shown to Saab over recent months has been remarkable and this does bode well for the future.  Now we aim to get back to the execution of our business plan, starting with the introduction of the new 9-5 later this year, and with the continued support of our employees and business partners I am confident we will succeed.”

“This transaction represents the successful outcome of months of hard work and intense negotiations, all aimed at securing a sustainable future for this unique brand, and we are pleased with the positive outcome,” said John Smith, GM vice president for corporate planning and alliances.  “This is a great day for Saab employees, dealers and suppliers, and a great day for millions of Saab customers and fans worldwide.”

Source: Rescue-Saab.com

A Video on Saab's Future

 

General Motors Company and Spyker Cars NV, led by CEO Victor Muller, today confirmed the details of a binding agreement over the purchase of Saab Automobile AB. The transaction is expected to close in February and Saab Automobile will exit the orderly wind down process in line with that timetable. Saab Automobile CEO Jan Åke Jonsson and Spyker Cars CEO Victor Muller give their reaction

GM Reaches Agreement to Sell Saab to Spyker

DETROIT – General Motors and Spyker Cars NV today confirmed that they have reached a binding agreement on the purchase of Saab Automobile AB.

"Today’s announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM,” said John Smith, GM vice president for corporate planning and alliances.

“General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we're all happy for the positive outcome,” Smith said.

As part of the agreement, Spyker intends to form a new company, Saab Spyker Automobiles, which will carry the Saab brand forward.  The sale will be subject to customary closing conditions, including receipt of applicable regulatory, governmental and court approvals.  Other terms and conditions specific to the sale will be disclosed in due time.

The Swedish government is at present reviewing the transaction and the related request for guarantees of a Saab Automobile loan that has been requested from the European Investment Bank.  Assuming quick action, the transaction is expected to close in mid-February, and previously announced wind down activities at Saab will be immediately suspended, pending the close of the transaction.

“Throughout the negotiations, GM has always had the hope to find a solution for Saab that would avoid a wind down of the brand,” added Nick Reilly, president, GM Europe. “We’ve worked with many parties over the past year, including governments and investors, and I’m very pleased that we could come to such a good conclusion, one that preserves jobs in Sweden and elsewhere. GM will continue to support Saab and Spyker on their way forward.”

 

About General Motors:  General Motors, one of the world’s largest automakers, traces its roots back to 1908.  With its global headquarters in Detroit, GM employs 204,000 people in every major region of the world and does business in some 140 countries.  GM and its strategic partners produce cars and trucks in 34 countries, and sell and service these vehicles through the following brands:  Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel, Vauxhall and Wuling.  GM’s largest national market is the United States, followed by China, Brazil, Germany, the United Kingdom, Canada, and Italy.  GM’s OnStar subsidiary is the industry leader in vehicle safety, security and information services.  General Motors acquired operations from General Motors Corporation on July 10, 2009, and references to prior periods in this and other press materials refer to operations of the old General Motors Corporation.  More information on the new General Motors can be found at www.gm.com.

Saab background:  Saab entered the auto business in 1949 with the first model 92.  Its aerodynamic shape and advanced technology drew from the company’s roots as an aircraft maker, and helped create what was to become a loyal and passionate customer base.  GM acquired a 50 percent stake in Saab in 1990, and acquired the balance of Saab in 2000.  As part of its strategy to focus on its four strongest brands in the U.S., GM began seeking a buyer for Saab in January 2009, a concerted effort that led to today’s announcement.

 

Sweden Steps In to Broker Saab Deal, Told by GM Sale Possible

SOURCE: Bloomberg By Ola Kinnander

Sweden Steps In to Broker Saab Deal, Told by GM Sale Possible

Jan. 12 (Bloomberg) -- General Motors Co. told the Swedish government that it’s still considering bids for its Saab unit while winding down the brand, according to a government spokesman.

Swedish officials, including State Secretary Joeran Haegglund, the government’s main liaison to the auto industry, visited GM in Detroit yesterday to explain how Sweden can guarantee a 400 million-euro ($580 million) loan for Saab from the European Investment Bank, the European Union’s lending arm, said Haakan Lind, a government spokesman.

The Swedish representatives held “good” talks with GM officials, Lind said in a telephone interview today. The officials discussed how fast the loan can be guaranteed, depending on which bidder gets to buy Saab, he said.

GM Vice Chairman Bob Lutz said yesterday that none of the offers the carmaker has received so far for Trollhaettan, Sweden-based Saab presents an attractive alternative to shutting the unit and that it will continue the process of shutting down the brand.

“The process continues,” Lind said. “There’s still a chance Saab will be sold.”

Genii Capital, the Luxembourg-based private-equity firm that agreed to acquire a majority stake in Renault SA’s F1 team last month, submitted a cash offer for Saab on Jan. 7. Dutch supercar maker Spyker Cars NV also submitted an offer, a revision of its Dec. 20 bid. Other bidders include a group headed by Jan Nygren, a former Swedish deputy prime minister, and a Wyoming-based investor group headed by Merbanco Inc. President Chris Johnston.

Saab restarted production in Trollhaettan yesterday after a four-week holiday break. Saab’s 3,500 workers today are scheduled to leave the factory “for a short while” to show their outrage with the wind-down process, Paul Aakerlund, an IF Metall union representative on the Saab board, said in a telephone interview.

To contact the reporters on this story: Ola Kinnander in Stockholm at +46-8-610-0714 or okinnander@bloomberg.net

 

Saab Enthusiasts, It All Comes Down To This:

January 7th Deadline!

Beyond the obvious business of JMK Saab servicing and selling the Saab brand for so many years, there is an enthusiasm for the brand in each of us. The average employee at JMK Saab has over 10 years of time invested in Saab. 

With the recent roller coaster ride we have all been through, that enthusiasm and passion for the brand is what has kept us all going.  Unfortunately, there is not much we can do in persuading the outcome of whether this brand lives or dies.  Other than this:

If you truly want to see the brand survive and flourish under new ownership, please take an important moment to read the material contained at saabsunited.com.  Steven Wade (Swade at Saabsunited) has not given up the fight and has compiled information and useful links to government officials where you can potentially make a difference.

You can visit saabsunited.com by clicking here. The clock is ticking faster than we would like but ticking nonetheless.

Another site run by Ryan Emge, is saabhistory.com.  Like Steven, Ryan commits much of his personal time to Saab.  He is participating with the "Save Saab" group drive to GM headquarters in Detroit.  You can view the information by clicking here.

Whatever the outcome, I would personally like to thank both Steven and Ryan for their ongoing commitment to the brand we love so much.  

Spyker and GM in last ditch Saab talks

Published: 21 Dec 09 17:52 CET

Spyker and GM in last ditch Saab talks

The head of Dutch sports car maker Spyker met with General Motors on Monday afternoon in a final attempt to convince the US auto company to sell Saab Automobile, the iconic Swedish brand facing an imminent wind-down.

"GM is holding new meetings with representatives for Dutch sportscar maker Spyker in Stockholm today," Swedish public radio reported on its website.

Spyker announced its renewed bid on Sunday, two days after GM broke off talks with the Dutch group and said it would begin winding down the iconic loss-making brand.

Spyker's new bid was to expire at 11pm CET on Monday.

"An announcement about the negotiations could be made during the day," Swedish radio said.

It said one of the main reasons GM had resumed talks with Spyker was that the Dutch group had addressed GM's hesitations over Spyker's Russian investors.

Swedish daily Svenska Dagbladet reported earlier on Monday that Spyker's main investors, Vladimir and Alexander Antonov, were no longer behind the Dutch group's bid for Saab.

SOURCE: AFP/The Local (the local)

Unions urge GM to review new Saab bid

Published: 21 Dec 09 07:31 CET

Swedish union leaders are urging GM to consider Dutch sports carmaker Spyker's new offer for Saab.

The head of the influential IF Metall union called on the US auto firm to examine the renewed bid for Saab, which employs about 3,400 people in Sweden.

"I understand the frustration felt by everyone who is dependent on Saab, to be thrown between hope and despair is terrible. GM must now respond with a serious examination of the new bid," union chairman Stefan Löfven said.

General Motors said on Friday that it would close Saab, based in western Sweden, after it failed to agree upon a sale with the Dutch carmaker.

The bid "demonstrates there is a significant interest" in Saab, Löfven said, calling on Sweden's centre-right government to get involved in the talks with GM.

GM has been trying to sell the unit since the beginning of 2009. Swedish luxury carmaker Koenigsegg, a company which builds around 18 cars a year, pulled out of a deal to buy Saab last month, citing costly delays.

Like Koenigsegg, Spyker is also a niche premium car manufacturer.

In 2008, it sold just 37 cars worldwide with prices starting at $290,000). Saab sold just over 93,000 cars worldwide last year.

According to media reports, Saab's closure could lead to more than 8,000 job losses, including subcontractors and others dependent on the carmaker.

Saab's history as an automaker dates back to the 1940s, when the first cars were produced by the Swedish aircraft maker Svenska Aeroplan Aktiebolaget or SAAB. GM acquired Saab Automobile in 1990.

Despite General Motors' announcement on Friday about its impending closure of Saab Automobile, Dutch sports carmaker Spyker saidon Sunday it had made a second purchase attempt.

"The Spyker leadership has submitted a renewed offer in the hopes of securing a future for Saab, its employees and the brand – despite the announcement that the winding down of Saab would begin," the company said in a statement.

Spyker said it hoped "the renewed offer would remove each of the obstacles that were standing in the way of a swift transaction."

"We have made every effort to resolve the issues that were preventing the conclusion of this matter and we have asked GM and all other involved parties to seriously consider this offer," said Spyker chief executive Victor Muller.

Muller said he was confident a deal could be done by the December 31 deadline set by GM to complete the sale. Spyker's new offer remains valid until 5pm Eastern Time on Monday (11pm CET), the company said.

SOURCE: AFP/The Local (http://www.thelocal.se/23958/20091221/)

Swedish crisis talks on Saab amid doubts over Spyker bid

STOCKHOLM — Swedish government officials and unions held crisis talks on Saab's fate on Monday as analysts expressed doubts about a renewed bid by Dutch sportscar maker Spyker for GM's loss-making unit Saab.

The meeting took place just hours before Spyker's new bid was to expire at 2200 GMT on Monday.

"We have to try every possibility to save Saab," Swedish Enterprise Minister Maud Olofsson told Swedish radio a few hours before the meeting, adding however that she was sceptical about Spyker's chances of succeeding in saving Saab.

Swedish government officials, Saab management, union representatives and local officials from Saab's hometown of Trollhaettan in southwestern Sweden were taking part in the emergency talks on the future of Saab, as well as that of the town of 55,000.

Swedish news agency TT reported GM officials would not be at the meeting.

GM has been trying to sell the loss-making unit since the start of the year.

Saab employs about 3,400 people in Sweden. According to media reports, Saab's closure could lead to more than 8,000 job losses, including subcontractors and others dependent on the carmaker.

But Saab's fate remained in limbo Monday after Spyker announced its renewed bid.

The surprise announcement came two days after Saab's American owners General Motors broke off talks with the Dutch group and said they would begin winding down the iconic brand.

One of Sweden's most respected auto industry analysts, Matts Carlsson, said GM was probably not interested in selling Saab at all, suggesting the US carmaker would rather shut down Saab because of fears over future competition.

"They are probably figuring that they would rather take the cost associated with shutting down (Saab) so as to not end up with competition in five, ten years," Carlsson told Swedish public radio Monday.

GM's reaction could be interpreted as a message to Saab employees "we don't want to have to face you in a future competition situation," Carlsson said.

GM decided earlier this year to hold onto German brand Opel after initial plans to sell it. Both Saab and Opel have in recent years been manufactured on the same platform.

Another analyst, Haakan Matson, was also sceptical about the new bid, noting that Spyker's new offer was only valid until 2200 GMT on Monday.

"That the buyer has set a time limit, is, according to me, strange and unserious," he wrote in a column in Swedish business daily Dagens Industri.

Swedish newspaper Svenska Dagbladet meanwhile reported Spyker's Russian investors Vladimir and Alexander Antonov were no longer behind the Dutch group's bid for Saab -- reportedly one of the sticking points in the negotiations with GM.

And Dagens Industri and Swedish news agency TT said Spyker was not the only bidder in the race for the brand.

They quoted Saab enthusiast website Saabsunited which said US investment firm Merbanco had also made a new bid for Saab with an unidentified Swedish consortium.

Merbanco was one of three firms, along with China's Beijing Automotive (BAIC) and US holding company Renco Group, identified as possible bidders for Saab after Swedish luxury carmaker Koeninsegg withdrew its bid for the brand on November 24.

GM rejected Merbanco's earlier bid, Dagens Industri said.

On Sunday, the heads of Sweden's influential IF Metall and Unionen unions, along with Sweden's main engineers' association, sent an open letter to GM's board.

"We believe that further alternatives should have been given more attention ... We appeal to the Board of General Motors to most thoroughly investigate the new initiatives," they wrote.

SOURCE: The Local