Spyker Blog
Saab/Spyker badges hit eBayFiled under: Auctions, Saab, Spyker 
A designer in Portugal has created a decal to celebrate Europe's most recent celebrity wedding. The 2.5-inch, self-adhesive decal is waterproof and UV resistant, and fits Saabs from 2003 to the present day. You can own this instant classic for just $10, and the creator can probably expect a ping from the gents at Spyker in three, two...
[Source: eBay]Saab/Spyker badges hit eBay originally appeared on Autoblog on Tue, 09 Mar 2010 09:29:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | CommentsReport: Saab deal helps put Spyker D12 Peking-to-Paris back on trackFiled under: Performance, SUV, GM, Saab, Spyker, Luxury 
Spyker D12 Peking-to-Paris concept - Click above for high-res image gallery
We're all well aware that the recently sealed deal between Spyker and General Motors means good things for the ailing Saab brand - in fact, without Spyker's eleventh-hour intervention, the Swedish automaker would have been lost to the annals of history. Apparently, though, the Saab tie-up means good things for Spyker, too.
Believe it or not, it was four years ago that Spyker first showed off its Peking-to-Paris luxury SUV at the Geneva Motor Show, and now company head Victor Muller has reportedly announced that the monster 'ute is back on track. Not surprisingly, the finalized handshake with The General is partly to thank for the reinvigorated D12 program.
Consider the years of technical expertise that Spyker gained when it brought Saab on board, not to mention the additional production capability and manpower. It remains to be seen what powertrain Spyker will choose for its hulking SUV, but previous rumors had a supercharged mill from Cadillac underhood. We shall see.
[Source: Autocar]Report: Saab deal helps put Spyker D12 Peking-to-Paris back on track originally appeared on Autoblog on Sat, 06 Mar 2010 12:17:00 EST. Please see our terms for use of feeds. Permalink | Email this | CommentsGeneva 2010: Subaru Impreza XV looks buffer, not any betterFiled under: Budget, Geneva Motor Show, Japan, Crossover, Hatchback, Spyker, Diesel 
Subaru Impreza XV - click above for high-res image gallery
Like the recently redesigned Forester and Outback, the Impreza XV unveiled at the Geneva Motor Show this week gives us yet another Subaru that looks more SUV-like than its predecessor. Subaru pulled this trick off by giving the XV a heftier-looking grille, beefier wheel arches, thicker, more purposeful-looking roof rails and a new, boomerang-look rear spoiler. You'll also notice the little bumperettes up front flanking the new grille.
Don't like the way it looks? Don't worry, as the Impreza XV will not be headed our (U.S.) way. However, you're going to have to learn to live with it should you live in Europe. That won't be too hard to do as the XV ships with your choice of either a peppy 2.0-liter boxer gas engine or torquey turbo-diesle boxer mill, the latter motivator being the power plant that best compliments the new XV's so-so trucky looks.
Geneva 2010: Subaru Impreza XV looks buffer, not any better originally appeared on Autoblog on Wed, 03 Mar 2010 16:59:00 EST. Please see our terms for use of feeds. Permalink | Email this | CommentsFinally Final: Saab sale transfer completed between GM and SpykerFiled under: GM, Saab, Earnings/Financials, Spyker 
2011 Saab 9-5 - Click above for high-res image gallery
After a Mullholland's worth of twists and turns, the sale of Saab Automobile AB to Spyker Cars is complete. The official transfer of ownership from General Motors to the Dutch supercar concern occurred earlier today, and now Saab will get down to the difficult business of becoming profitable.
According to Victor Muller, CEO of Spyker Cars, a man who is fast becoming something of a folk hero in Sweden:
"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."
With a compelling new 9-5 waiting in the wings and a raft of vehicles (9-3X, 9-4) just around the bend, the Swedish automaker's short-term future looks bright, but even before those new products have run their course, the real battle for sustained profitability will begin, with Saab likely needing to partner with a larger automaker to share development costs for new models.
As it is, the rumormill has been rife with return-to-form scuttlebutt, including the return of a five-door hatchback bodystyle for the next-gen 9-3 and the possibility of a '50s-era teardrop-inspired 9-2 model that would seem to jibe with Muller's "Real Saab, Saab Saabs" comment. Will the promise of such models be enough to see the Griffin rise triumphantly from the ashes? If the build-up to the handover of the brand is any indication, Saab's revival effort is at least going to be one hell of a spectacle. Official statements from both Spyker and GM available after the jump.
[Sources: Spyker Cars, General Motors]Continue reading Finally Final: Saab sale transfer completed between GM and Spyker Finally Final: Saab sale transfer completed between GM and Spyker originally appeared on Autoblog on Tue, 23 Feb 2010 12:27:00 EST. Please see our terms for use of feeds. Permalink | Email this | CommentsReport: Ousted Russian investor wants in on Spyker-Saab dealFiled under: Government/Legal, GM, Saab, Spyker, Russia 
Vladimir Antonov will soon give up the position of chairman at Spyker because he stood between the Dutch company and its successful acquisition of Saab. Recent reports indicate that a Swedish government investigation tied Antonov and his family to the Russian mafia and money laundering. Those findings helped kill the initial deal between Spyker and General Motors and led to Antonov's subsequent departure.
Antonov has a different take on the story. In a New York Times op-ed called "A Misplaced Fear of Russian Money," he writes that the results of the Swedish investigation were "surreal allegations," and that he'll prove them untrue. He's hired a firm of private investigators to clear his name, and he plans to give his report to all parties involved, including the press, to show that he's just another businessman.
His goal is to get back in on the Spyker-Saab deal; apparently, Antonov sees enough potential there to go through these public motions. Although he's no longer a shareholder, he does remain a lender to Spyker, having tendered the company $100 million to help it buy Saab. That makes it simpler for Antonov to return to the Spyker party, say, if Spyker converts debt to shares, but first he'll have to get past the bouncers in Sweden and the U.S. government.
[Source: Auto News - sub req'd, Saabs United]Report: Ousted Russian investor wants in on Spyker-Saab deal originally appeared on Autoblog on Sun, 21 Feb 2010 09:01:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | CommentsSaab-Spyker is Go: EIB reportedly approves 400M euro loan, Spyker shareholders agree to Saab purchaseFiled under: Europe, Saab, Earnings/Financials, Spyker 
Spyker-Saab is reportedly passing "Go" and collecting $547 million while they're at. According to Automotive News, the €400 million loan courtesy of the European Investment Bank (EIB) has received final approval. There's even more good Saab-related news (that almost feels weird to type) - Spyker shareholders have approved the "we're buying Saab" deal. The large loan is especially big news to Holland-based Spyker and Saab's worldwide legion of rabid fans, for it was essentially the last piece of the puzzle standing in the way of - as Reuters of all publications points out - "[combining] two money-losing enterprises."
Now that they have the loan and the shareholders' blessings, Spyker-Saab is looking to get their fledgling company list on both the London and Stockholm stock exchanges. Spyker CEO Victor Muller was asked if listing the company on the two new exchanges would make it easier to raise cash (duh), Muller replied that the end goal was to be "closer to investors." If we were flip, we might modify that to read "closer to investors' wallets," but we'll just leave it alone and hope that all this money goes into making the next 9-3 the very best Swedish hatchback it can be!
One last thing - perhaps we're getting ahead of ourselves by referring to the new company as Spyker-Saab. According to the Dutch supercar company's press release today, they have postponed changing their name from Spyker Cars N.V. to Saab Spyker Automobiles pending a trademark discussion with aircraft manufacturer Saab AB. That issue is expected to be resolved at the company's next annual meeting on April 22. Official press release after the jump.
[Sources: Reuters, Spyker, Automotive News - sub. req.]
Continue reading Saab-Spyker is Go: EIB reportedly approves 400M euro loan, Spyker shareholders agree to Saab purchase Saab-Spyker is Go: EIB reportedly approves 400M euro loan, Spyker shareholders agree to Saab purchase originally appeared on Autoblog on Fri, 12 Feb 2010 13:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | CommentsRumormill: Next-gen Saab 9-3 to see return of five-door bodystyle?Filed under: Performance, Europe, Hatchback, Saab, Spyker, Rumormill, Luxury 
Saab 9-3 Sedan - Click above for high-res image gallery
Hopefully, and while Spyker's at it they'll bring back the 900 name. Don't count on that last bit, but according to a report by the Dutch site Auto Internationaal, Saab will be bringing back a five-door (as in hatchback) 9-3. To even the most casual Saab fan, this makes a ton of sense. In fact, Saab's decision (even though it was really General Motors' decision) to end production of the 9-3 hatch in favor of the 9-3 sedan is still both baffling and painful, all these many years later.
The thing is, Saab has always been, and will probably always remain a niche brand. The notion that by dropping the odd five-door (and three-door) body style in favor of a more conventional sedan body, stay a high-dollar front-dollar and poach sales away from BMW is as laughable now as it was back in 2002 when Saab/GM made the switch. Bringing back a five-door is most likely the brand's best shot at salvation.
Besides, five-door, luxury/performance niche vehicles seem to be all the rage. Look no further than the BMW 5 Series Gran Turismo and upcoming Audi A5 Sportback. Let's not forget about the Caddy CTS Sportwagon, either. Not only that, you have a lot of people getting older and richer who spent their formative years in Subaru WRXs, Volkswagen GTIs and MazdaSpeed3s now looking for something a little more grown up and sophisticated. We really can't see any downside to hatch'd 9-3. Now if Saab would only bring back the longitudinal, backwards engine... though probably not, as the next 9-3 will likely be Opel Astra-based.
[Source: Euro Car Blog via Auto Internationaal]Rumormill: Next-gen Saab 9-3 to see return of five-door bodystyle? originally appeared on Autoblog on Thu, 11 Feb 2010 10:29:00 EST. Please see our terms for use of feeds. Permalink | Email this | CommentsBreaking: Swedish loan guarantee for Saab reportedly wins EU approvalFiled under: Europe, Saab, Earnings/Financials, Spyker 
What is thought to be one of the last remaining hurdles for the acquisition of Saab Automobile by Spyker Cars from General Motors has reportedly been cleared - the Swedish government's endorsement of a pivotal European Investment Bank loan has been okayed by the European Union. Bloomberg indicates that the 400 million-euro ($546 million) loan has gained approval because the loan guarantors have found the necessary collateral and "adequate remuneration." It is understood that the loan is conditional based upon Saab using the capital to develop and produce cleaner, more fuel-efficient vehicles.
The EIB itself must still approve the loan in order for the transaction to go through, but the endorsement by the EU is expected to make it easier for the Luxemburg-based institution to make that move.
[Sources: Bloomberg, Autocar | Image: Joe Raedle/Getty]
[Source:
Breaking: Swedish loan guarantee for Saab reportedly wins EU approval originally appeared on Autoblog on Mon, 08 Feb 2010 10:28:00 EST. Please see our terms for use of feeds. Permalink | Email this | CommentsGalpin launches new Spyker dealership in Southern CaliforniaFiled under: Car Buying, Performance, Spyker 
Galpin Spyker dealership launch - Click above for high-res image gallery
Most people think of Ford when they hear the name Galpin. After all, the Van Nuys, CA dealership has been the Blue Oval's number one volume seller for twenty years running. But Galpin sells more than Mustangs and Fusions. Their Premier Collection showroom houses inventory for Aston Martin, Jaguar and Lotus - it's the same place we visited to get up close and personal with the Aston Martin One-77.
Galpin can now add one more to that list. Spyker, the new owner of Saab, has appointed Galpin as its latest dealer and the only one in Los Angeles. The announcement kicked off with a party earlier this week at Galpin's Classic Collection building with various colors of the C8 Aileron coupe and spyder on display.
Don't expect the Dutch supercars to fly off Galpin's showroom floor, though. Just 45 cars were sold worldwide last year, with the United States accounting for less than half that total. That said, Beau Boeckmann, President of Galpin, has realistic expectations for 2010. He hopes to maintain ten percent of the North American market share, which would currently equate to just a couple of cars each year. Hit the jump for the press release from Galpin or click on our gallery of live shots from the event below.
Photos by Drew Phillips / Copyright (C)2010 Weblogs, Inc.Continue reading Galpin launches new Spyker dealership in Southern California Galpin launches new Spyker dealership in Southern California originally appeared on Autoblog on Sat, 06 Feb 2010 12:55:00 EST. Please see our terms for use of feeds. Permalink | Email this | CommentsSpyker releases more details on Saab purchase, promises new 9-3 for 2012Filed under: GM, Saab, Earnings/Financials, Spyker
The long saga of Saab has generated a lot of headlines for us in the past few months. The latest was word that the deal between General Motors and Spyker was initially rejected because of the fact that one of Spyker's investors was tied to the Russian mafia. It wasn't until the Antonov Group was bought out, allegedly, that the deal proceeded.
Today we received a press release from Spyker giving a few more details about its rationale for buying Saab, and it hints of what's in store for the brand now that the tiny Dutch supercar maker has agreed to purchase this Swedish stalwart. Spyker says that they want to rebuild Saab's global reputation, repositioning the brand as "an independent performance-oriented niche car company with an industry-leading environmental strategy." Spyker also says that it is committed to allowing Saab to run its own business plan under its own management. That business plan has been analyzed by Spyker and its advisers, Booz & Co and KPMG Transaction Services. Even the Swedish Government and the European Investment Bank signed off on the blueprints.
Spyker plans to rename the company, swapping the current Spyker Cars N.V. for Saab Spyker Automobiles NV ("Saab Spyker"). The two branches will continue to run separately, with Spyker marching forward with their exotic lineup and Saab developing "three to four model lines." Key news includes:
- 9-3 - All-new sedan, hatchback, sports estate, X and convertible models in 2012
- 9-5 - Sedan, sports estate and X models due summer 2010
- 9-4X - for both the U.S. and European markets due early 2011
- 9-1 - a fourth, smaller car line that would require more funding if it gets greenlighted
Spyker is anticipating sales of 100,000 to 125,000 Saabs a year with production continuing in Trollhättan. The 9-4X, however, will be built in Mexico. While the sale should be final in February, Spyker expects to work with GM for a bit longer, gradually reducing their GM dependency as they transition to other suppliers down the road.
Saab and Spyker should both benefit from the deal by sharing engineering know-how, assets and technology. Spyker gets access to a network of 1,100 Saab dealerships around the world, and merchandising, promotion & event sponsorship can be combined. Even parts and components will be engineered to be common in both lines of cars. It strikes us as a pretty ambitious plan, though they seem like they're off to a good start having already secured the $1 billion they think they need to ensure Saab's future. You can read even more details in the presser after the jump.
[Source: Spyker Cars]Continue reading Spyker releases more details on Saab purchase, promises new 9-3 for 2012 Spyker releases more details on Saab purchase, promises new 9-3 for 2012 originally appeared on Autoblog on Tue, 02 Feb 2010 11:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | CommentsReport: Spyker investor Antonov's alleged ties to organized crime nixed earlier Saab dealFiled under: Government/Legal, GM, Saab, Spyker 
Saab - A History in Pictures - Click above for high-res image gallery
When Koenigsegg dropped out of the running to purchase Saab from General Motors, there apparently weren't many automakers interested in rescuing the Swedish brand from the abyss. The only company with any serious interest, Spyker, seemed to be a long-shot to bring the brand into its portfolio. Of course, we now know that other investment groups were in the running, but Spyker came out on top to purchase Saab for $75 million and a closet full of clogs. But just like the winding road that led to the sale, the story doesn't simply end there. According to several reports, the deal could have been done a month sooner were it not for the involvement of the Russia's Antonov group.
SR International is among several international news agencies to report that the Swedish government was under the strong suspicion that the Antonov group has strong ties to the Russian mafia. The Antonov family is allegedly tied to organized crime and money laundering, and the English government has blocked the family from investing in the UK because of similar suspicions. The Swedish government then reportedly informed America's FBI of their findings, a move that lead to the U.S. government telling the GM board to stop the sale of Saab to Spyker on December 18. Hans Lindblad, state secretary at the Swedish Ministry of Finance, has reportedly confirmed the situation, adding that the discovery gave the Swedish government more time to help broker a deal.
In the end, Spyker was able to purchase Saab from GM only after the Antonov group was bought out of its interest in Dutch specialty automaker. And we thought the Saab tale couldn't get any weirder... or convoluted.
[Sources: SR International, The Local]Report: Spyker investor Antonov's alleged ties to organized crime nixed earlier Saab deal originally appeared on Autoblog on Mon, 01 Feb 2010 15:32:00 EST. Please see our terms for use of feeds. Permalink | Email this | CommentsReport: Saab 9-5 sales will start in U.S. in the second quarterFiled under: Sedan, Performance, Europe, Plants/Manufacturing, GM, Saab, Spyker, Luxury 
Coming to a Saab Spyker dealer near you by Spring - Click above for high-res image gallery
We had an interesting chat with a Saab mechanic in Hollywood yesterday. Naturally, he was overcome with great joy over the fact that Spyker saved Saab. What made the conversation interesting was his asking us if there will be a 2010 Saab 9-5? Dunno. Er, didn't know. But that was then. Today we feel pretty confident that there will not be a 2010 Saab 9-5. kind of exactly how there's no 1983 Corvette, minus the haggard sales saga.
However, according to a report by Edmunds Auto Observer, there will in fact be a 2011 Saab 9-5. Spyker is set to ramp up production of the new car in April and begin selling Saabs to us American types at some point during the second quarter. Did we say Saabs? We meant to say Saab Spykers, as the new cars may be called. Regardless, anything introduced to the market during May or June of a given year will be labeled as next year's model. Hence, the 2011 Saab Spyker 9-5.
The Auto Observer is also confirming that the Saab (Spyker) 9-4 will also go on sale at some unspecified future date. The 9-4 and 9-4X are based on General Motors' Theta Premium architecture - the same platform used by the Cadillac SRX. Since so much parts sharing will be going on (the 9-5 will come with at least three General Motors engines), GM will continue supplying parts to Saab Spyker for many moons, and as such have a vested interest in the new company doing well. Not too well of course, as Saab will now be free to compete head-to-head with GM brands Buick and/or Cadillac.
One last thing, and this is a plea from our Saab mechanic friend more then anything else: here's hoping Saab Spyker has the good sense to remount Saab motors longitudinally and backwards, rather than sideways, especially when a new 9-3 shows up, as that set up really is a trait of the Griffin.
[Source: Auto Observer]Report: Saab 9-5 sales will start in U.S. in the second quarter originally appeared on Autoblog on Wed, 27 Jan 2010 16:41:00 EST. Please see our terms for use of feeds. Permalink | Email this | CommentsVideos: Saab and Spyker CEOs talk about the sale, workers celebrate in TrollhättanFiled under: Videos, GM, Saab, Spyker
The latest chapter of the Saab saga appears to be a happy one, with Spyker coming up with a winning bid during the 11th hour and saving the proud Swedish automaker from closure at the hands of General Motors. After the jump are a few videos related to the deal, including a 10 minute video of the Spyker/Saab press conference, with Saab CEO Jan Åke Jonsson and Spyker CEO Victor Muller talking about how the deal was done, and where the two companies go from here. If you click through, you'll also find jubilant footage of the celebration in Trollhättan, where workers were given the day off as the liquidators were told to go home.
All is not wine and roses, however, as Spyker will doubtlessly have its hands full trying to fill up Saab's product pipeline after the current crop of GM-derived new models (9-5 sedan and Sportcombi, 9-4X, 9-3X) wear thin, so it will be interesting to see how they go about developing their next generation of products.
In the meantime, Spyker could benefit from Saab a lot faster than the other way-around, though, as it should be able to leverage a portion of the Swedish automaker's 1,400 dealerships worldwide to expand its global reach. Muller says that even leveraging 10 percent of the Saab dealers will be significant. Hit the jump to watch the fascinating videos for yourself.
[Source: YouTube]Continue reading Videos: Saab and Spyker CEOs talk about the sale, workers celebrate in Trollhättan Videos: Saab and Spyker CEOs talk about the sale, workers celebrate in Trollhättan originally appeared on Autoblog on Wed, 27 Jan 2010 15:00:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | CommentsAutoblog Podcast #163 - Paukert Re-ReduxFiled under: Podcasts, Hybrid, Government/Legal, Plants/Manufacturing, Audi, BMW, Ford, GM, Mercedes-Benz, Nissan, Saab, Toyota, Spyker, Rumormill 
Click above for the Autoblog Podcast in iTunes, RSS or listen now!
Episode #163 of the Autoblog Podcast is here and Chris Paukert once again adds his insight as he's fast becoming the fourth regular member of the crew. First up we peek into the Autoblog Garage, occupied this week by a Nissan Versa, Audi S4, and a Mercedes-Benz S400 Hybrid. Topics follow, with our first drive of the 2011 BMW 5 Series starting us off before we move on to Ed Whitacre's new status as official General Motors CEO and get all misty about the uncertain fortunes of Saab (glad that's been cleared up.) Toyota's most recent recall for its throttle issue, the 2011 BMW 335is, and rumors of a 50th anniversary edition Ford Mustang with independent rear suspension finish us off before we take some questions and call it a night.
Until next week, hit up Joystiq and Engadget - there's going to be big Apple Tablet news soon! Let us know what you think of our podcast by dropping us an email at Podcast at Autoblog dot com, reviewing the show in iTunes, filling out our survey, or even leaving us a voicemail on our Google Voice line 734-288-8POD (734-288-8763). Thanks for listening!Continue reading Autoblog Podcast #163 - Paukert Re-Redux Autoblog Podcast #163 - Paukert Re-Redux originally appeared on Autoblog on Tue, 26 Jan 2010 17:15:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | CommentsBREAKING: GM reaches agreement to sell Saab to Spyker!Filed under: Europe, Government/Legal, GM, Saab, Earnings/Financials, Spyker 
What a long, strange trip it's been. Every thriller must have an endgame, although whether the guy gets the girl in the end or just plain "gets it" is often in doubt right until the final frame. This afternoon, after a most improbable and tortured saga, General Motors has finally agreed to sell Saab to Spyker Cars.
The tiny Dutch supercar manufacturer and its backers have outlasted all comers, including everyone from Koenigsegg to investment consortium Merbanco to a joint bid by Genii Capital and Formula One mastermind Bernie Ecclestone. More significantly, they've endured GM and its negotiators, submitting and re-submitting a series of bids to finally bring together the winning package.
Complete details of the transaction have yet to be fully disclosed, but it's understood to include Spyker giving GM $74 million up front, along with allowing The General to pocket a further $326 million in preferred shares from the new Spyker-owned entity. The deal requires that the Swedish government agree to guarantee a 400 million-euro loan from the European Investment Bank (EIB), a step that is expected to be consummated in February.
As part of the agreement, Spyker chairman Vladimir Antonov has agreed to step down, a move reportedly key to GM's interests in keeping its intellectual property sequestered from Russian hands.
With Saab's operations already partially "wound down" from GM's liquidation moves following the collapse of the earlier Koenigsegg deal, it will be interesting to see how quickly Spyker can get the Swedish marque's operations back up to speed, including delivery of the 2011 9-5 sedan, a promising vehicle range that was likely the linchpin holding the whole deal together.
Interestingly, after this protracted and very public battle, Saab may actually have more visibility and consumer goodwill built up than it has in decades. Whether this will translate to additional sales or fall by the wayside remains to be seen. General Motors could also potentially see a bit of public cordiality from seeing this process through, as it will also have proven that it can successfully spin off one of its properties, something that was in doubt after the caving-in of the Saturn sale to Roger Penske and what looks to be an increasingly tenuous sale of its Hummer brand to China's Sichuan Tengzhong. Click through to the jump for the official press release from General Motors.
[Sources: General Motors, The Wall Street Journal, Bloomberg]Continue reading BREAKING: GM reaches agreement to sell Saab to Spyker! BREAKING: GM reaches agreement to sell Saab to Spyker! originally appeared on Autoblog on Tue, 26 Jan 2010 13:10:00 EST. Please see our terms for use of feeds. Permalink | Email this | CommentsReport: Dutch securities agency suspends Spyker share trading, Saab deal may be announced later todayFiled under: GM, Saab, Spyker 
We have some news to report about the on-again-off-again saga that surrounds the fate of Saab. The Netherlands' securities agency has suspended trading of Spyker shares, which we're told usually happens before a big announcement is made. We're also hearing reports that Swedish news channels are quoting Spyker chief Victor Muller as saying an announcement will definitely be made later today.
From what we can gather, the deal on the table is that Spyker will give current owner General Motors $75 million while allowing the U.S. automaker to retain $100 million in Saab liquidity. GM will also reportedly get $325 million in preferred shares of Spyker-owned Saab.
Regardless of what's announced, we're hoping this circus comes to an end soon. That probably won't happen. If the Spyker deal doesn't happen, the Genii group led by Formula One boss Bernie Ecclestone will bid for the Swedish luxury brand again, according to reports, despite having withdrawn its bid on Monday.
Stay tuned, as one way or another we'll have news concerning Saab's future later today.
[Sources: Autocar, WhatCar?, SaabsUnited | Image: David McNew/Getty]Report: Dutch securities agency suspends Spyker share trading, Saab deal may be announced later today originally appeared on Autoblog on Tue, 26 Jan 2010 10:40:00 EST. Please see our terms for use of feeds. Permalink | Email this | CommentsReport: GM/Spyker near agreement, Spyker chairman to step down?Filed under: Europe, Government/Legal, GM, Saab, Earnings/Financials, Spyker 
Could the Saab endgame - no, the real endgame this time - finally be under way? Bloomberg is reporting that financial terms have been agreed to, in principle, between General Motors and Spyker, and that what remains between the two are sorting out production issues. Beyond that, there are still a couple of catches: Vladimir Antonov, Spyker's Russian backer and company chairman, will reportedly have to leave the company and the Swedish government must agree to guarantee the €400 million ($500 million U.S.) loan from the European Investment Bank.
The money deal is that Spyker gives GM $75 million, GM keeps another $100 million in current Saab liquidity, and The General receives $325 million in preferred shares from the new, Spyker-owned Saab company. That last deal would keep GM in the Saab game, which is perhaps an issue of technology made feasible by Antonov's departure.
The two companies continue to work on the deal in Stockholm. In the meantime, Saab engineers can go on prepping that 9-5 Sport Combi, and if Spyker pulls this off, it will have proved its "Nulla tenaci invia est via" motto and then some.
[Source: BusinessWeek via My Smart Trend | Image: Andy M. via Saabs United]Report: GM/Spyker near agreement, Spyker chairman to step down? originally appeared on Autoblog on Sun, 24 Jan 2010 15:12:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | CommentsReport: Spyker last bidder GM considering for Saab... or is it?Filed under: Europe, GM, Saab, Earnings/Financials, Spyker
To paraphrase the once great weekend update anchor Chevy Chase, "Generalissimo Saab is still dead" and appears likely to stay that way. Bloomberg reports that Spyker is the last bidder standing to pick up the Swedish brand from General Motors, although Genii Capital and partner Bernie Eccelstone apparently haven't given up yet. At this point, according to the news service, Spyker is the only party in active talks with The General as the process of shutting down Saab has already begun. Genii hopes to reopen talks with GM this week.
The Spyker bid reportedly includes having GM continue to hold a stake in Saab - a stipulation that the U.S. company will probably be averse to. Another problem could still revolve around handing over intellectual property to Russia, just as it did with the aborted attempt to sell Opel to Magna (the largest shareholder in Spyker is Russian chairman Vladimir Antonov). Given Saab's continued lack of financial success over the years, it's hard to see how Spyker (which has had its own problems to sort through) could make a go of it. With any luck, we'll know the outcome of this sad saga this week, although we'd be less-than-surprised to see things drag on for a while yet.
[Source: Bloomberg | Image: Joe Raedle/Getty]Report: Spyker last bidder GM considering for Saab... or is it? originally appeared on Autoblog on Sun, 17 Jan 2010 18:06:00 EST. Please see our terms for use of feeds. Permalink | Email this | CommentsReport: Spyker would preserve Saab product plans, could sell own supercars in select dealersFiled under: Car Buying, Concept Cars, GM, Saab, Spyker 
2006 Saab Aero-X Concept - click above for high-res gallery
In a far-reaching interview with AOL Autos this morning, Spyker Cars CEO Victor Muller revealed some interesting tidbits about his company's plan for Saab if they can successfully negotiate for its purchase from parent company General Motors.
In a product plan that sounds distinctly like those previously floated by Saab executives in Sweden, the Dutch supercar builder would have Saab rebuild its brand around the 9-3, new-for-2010 9-5, and the 9-4X crossover. An entry-level 9-1 model would not be a consideration, although Muller admits he'd still love to build a production version of 2006's celebrated Aero X concept (shown above). If Saab were to go that route, Spyker's experience in building low-volume supercars would clearly be an asset in bringing it to market.
In news that will surely be welcomed by Saab dealers and customers, Muller says Spyker has decided it would not pursue plans to winnow Saab's U.S. dealer network from 218 showrooms to 137. In fact, the Dutch businessman suggests that it would be reasonable to expect Spyker to sell its own cars within Saab showrooms in the future (they are presently distributed through Bentley and Lamborghini outlets). Down the road, Spyker's supercars could benefit from Saab's all-wheel drive expertise, among other things.
Naturally, all of this future product discussion will be moot if Spyker and its investors can't get GM to hand over the keys to the perennially embattled brand. A newly extended deadline for sales negotiations to be completed was set by GM on Wednesday, and we should know not long after January 7 what fate awaits the brand.
[Source: AOL Autos]Report: Spyker would preserve Saab product plans, could sell own supercars in select dealers originally appeared on Autoblog on Thu, 31 Dec 2009 14:56:00 EST. Please see our terms for use of feeds. Permalink | Email this | CommentsAutoblog Podcast #158 - 'Twas a few days before ChristmasFiled under: Detroit Auto Show, Podcasts, Audi, BMW, Buick, Chevrolet, Chrysler, GM, GMC, Spyker, Rumormill
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'Twas a couple nights before Christmas, and in the Autoblog house, Paukert and Shunk got Roth off the couch... For episode #158 of the Autoblog Podcast! What better way to get into the holiday spirit than an hour and a half of new Podcast? It's fresher than egg nog this week, as the trio chews on the return of the 5.0 in the Ford Mustang, Audi's more sane torque numbers for the E-Tron, and what may yet be a Christmas miracle: Spyker's dogged pursuit of Saab. Rounding out the sextet of topics are the Alfa Giulietta and its potential as a Chrysler, the BMW Z4 GT3, and General Motors' plan to bring the Buick Regal GS to the North American International Auto Show in Detroit, where it will also debut a Chevrolet Orlando-based vehicle called the GMC Granite.
For the long holiday drives, our colleagues at Joystiq and Engadget do fine work. Let us know what you think of our podcast by dropping us an email at Podcast at Autoblog dot com, reviewing the show in iTunes, filling out our survey, or even leaving us a voicemail on our Google Voice line 734-288-8POD (734-288-8763). Thanks for listening!Continue reading Autoblog Podcast #158 - 'Twas a few days before Christmas Autoblog Podcast #158 - 'Twas a few days before Christmas originally appeared on Autoblog on Tue, 22 Dec 2009 18:17:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments |
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