• Sweden edition
 
SAAB CASH CRISIS
Swedish dealers to stop selling Saabs

Swedish dealers to stop selling Saabs

Published: 22 Aug 2011 16:39 GMT+02:00
Updated: 22 Aug 2011 16:39 GMT+02:00

So far, the Swedish Enforcement Agency (Kronofogden) has reviewed debts totaling 5.1 million kronor ($800,000) owed by Saab to four different parties.

On Monday, five additional debts totally nearly 3 million kronor are under review by the agency, and within a few weeks, a total of 43 million kronor in unpaid bills is expected to be under review.

Last week the SEB bank announced that there was money in Saab's account, and now the debt collection agency has received information from Nordea and asked the bank to freeze Saab's accounts.

The number of claimants turning to the Enforcement Agency for help in squeezing money from the cash-strapped automaker is growing by the day, with foreign suppliers now joining the hunt to collect on unpaid bills, according to TV4.

At the same time, Swedish auto dealer chain Bilpartner has decided to stop selling new Saabs at it's ten dealerships in Skåne in southern Sweden, the local Sydsvenska Dagbladet newspaper reports.

Last Friday, Holmgrens Bil, which sells cars at seven sites in Småland in south central Sweden, announced its dealers would stop carrying the iconic Swedish brand.

Bilpartner has sold Saab cars since the brand was first put on sale in Sweden and is the country's second-largest Saab dealership.

But now the chain has abandoned Saab amid continued uncertainty about the company's future.

“We've take a time out and removed the cars from our showrooms. It's a shame, but there's no reason to try to sell cars if you don't know if or when they can be delivered,” Anders Carlsson, board chair of Bilpartner, told the TT news agency.

The decision was made last week, and the few Saabs available for test driving were replaced by other brands.

“We haven't canceled our contract with Saab. If production restarts we'll sell Saabs again,” said Carlsson.

On Monday, workers at the Saab factory in Trollhättan in western Sweden were called into work for an informational meeting in a factory which has been idled since the beginning of April.

Fredrik Almqvist, who has worked at the factory since 1995, had hoped the meeting would provide answers to a number of pressing questions.

“But we didn't learn anything. No information about when the factory will start beyond that they hope that it will happen as soon as possible, and that's something we've heard before,” he told TT.

“We also didn't get any guarantee that our salaries would be paid on Thursday.”

While Almqvist remains skeptical about getting paid, Saab spokesperson Gunilla Gustavs told TT that “the plan is to pay salaries” and emphasised that Saab leadership is working on several options for solving its current financial woes.

TT/The Local/dl (news@thelocal.se)

Your comments about this article

17:17 August 22, 2011 by Rick Methven
I picked up my 9-5 Aero from the garage today after fitting new brake discs/pads.

A guy was there with a problem with his New Saab AWD Aero. needed an electric control unit. Sorry they said, even though it is under warranty, we can not fix it because we do not have the part and do not know if we will EVER get it.

The future looks really bleak for the buyers of the new Spyker/Saab owners. A 600,000 car made worthless by lack of a part
17:23 August 22, 2011 by per1970
I cant see thats the case, as SAAB doesnt produce most of there electronics, might be a delay for the garage to get buy SAAB dealers and middle hands, but sure he will get hold of the parts, and in my opinion theres a shame SAAB is going under, its a great car, with a lovely history.
17:52 August 22, 2011 by Rick Methven
All Saab spares for current models come out of the central Saab owned parts subsidiary in Nyköping. Saab owe the parts suppliers loads of money, and so the suppliers will not supply parts until they get paid. They are not going to supply each individual service centre with the odd part here and there for a model that has few owners, it is just not worth it. I have been a SAAB driver for 35 years and am very fond of them. I was nearly tempted to buy a new one, but at the moment, I am glad I did not. Lets hope that some stability can be got and the production can continue. I hat happens then I will buy another SAAB
18:02 August 22, 2011 by CurtInFalcon
Problems with a lack of Saab parts are being reported in the USA too - on the new vehicles. It seems that the suppliers stopped sending parts to Saab Parts after it was discovered that Saab Parts was forwarding the supplies for production rather than for repairs. Whomever owns a new Saab (me included) is seeing a dramtic drop in resale value of their cars due to the financial problems facing the company. Between the lack of parts, poor resale and potential loss of warranty, anyone who had purchased a new Saab is in for a very rough ride.
22:57 August 22, 2011 by swedejane
They were still selling Saabs? Huh...
00:57 August 23, 2011 by Eagle63
I've been driving Saabs ever since the 99 turbo, and lately have been test-driving some competitors. But I came to the conclusion that you really can't replace a Saab; none has the soul and character of a Saab. It becomes part of the family even...

So I decided to hang on to my trusty old 9-5 Griffin and wait for better times to come.
02:04 August 23, 2011 by 2394040
I can't help but feel that GM is still involved in this. I believe they wanted SAAB out of business when they first bought it. Conspiracies do happen; regardless of what some believe.
22:25 August 23, 2011 by Pete Cooper
I am sure if Saab picks up production again with a sound financial plan dealers will come back. Let's keep fingers crossed for that because Saab is a great brand. We've had Saabs in the familty since 1960 and I hope my 6 year old son will be the third generation to drive a Saab in about 12-15 years or so.

About parts: remember that one condition that GM put forward when Saab was sold is a 10 year guaranteed delivery of parts.

I fully agree with Eagle63 (see 2 comments up this column). I actually wouldn't know what to drive if Saab's not around. I have driven many other brands (test drives, rental cars, company cars etc. and there's nothing like a Saab.

One great advantage of Victor Muller...he won't give up easy.
22:03 August 24, 2011 by mkvgtired
@2394040, for what reason? SAAB is such a small company it would not be worth GM's time to buy it, lose billions of dollars, then sell it just to make it fail. They could have killed it while they owned it. Remember GM constantly extending the deadline so they could sell it? If they wanted SAAB gone they would not have sold it. A company bought it that did not have the business experience or the capital to keep a company of that size running. Anyone could have seen this coming at the time of sale.
19:10 August 25, 2011 by spy
2394040

Stop looking for excuses, GM have nothing to do with this.
15:11 August 28, 2011 by tomas R
Hello!

I think that to SAAB is very important to save old clients and do not lose them. It is the hope that client who drives the old SAAB so he will buy the new (or the other) SAAB in the future. For example I am sure that the other my car will be SAAB too!

Best regard to all SAAB enthusiasts and SAAB workers!

tomas (driving SAAB 9000'95, Lithuania)
14:44 August 29, 2011 by chocolatechips
Hello. I'm not a Swede but I like Swedish products like Saab's, Volvo's, etc.. They have a different style and quality. Maybe if Saab develops a smaller car like BMW's 1 Series, Audi's A3 or even cars like Mini's, VW Polo or Audi A1, they can expand their sales. It may not be Saab's style but what can you do? The market has changed I think. For example Volvo S60 has 1.6lt turbo engine with a 180 bhp power or VW has 1.4lt Passat. Even Merc has a 1.6lt C Class. A 9-3 with a smaller engine with a Saab style will sell better. If these can do it Saab can do it. We want to see Saab on the market and hope they can get out of this crisis.
15:54 August 29, 2011 by Rick Methven
@tomas R

"I think that to SAAB is very important to save old clients and do not lose them"

The problem is that the traditional SAAB buyer has been turned away by GM. Up to 1994, there was a dedicated SAAB aficionado who would not buy any other car. We loved the difference in design, the solid bodywork and everything about SAAB cars the 900 and the 9000. In 1994 when GM had bought 50%, they where so keen to put the GM stamp on the brand that they pushed the production of the 'new' 900. It was a heap of crap that the only thing SAAB about it was the logo, the rest was an Opel at the price of a SAAB. Today on the second hand market a 1993 Saab 900 classic is worth twice as much as a 1998 New SAAB. Most of the new 900's & early 93's have rusted away and been scrapped. People thought they where buying SAAB quality and what they got was a heap of Opel rubbish
21:27 August 29, 2011 by tomas R
@Rick Methven from tomas R

Maybe I can see some true in your words. My friends driving SAAB cars say that SAAB 9000 is serious car and SAAB 9-5 is not so serious like SAAB 9000. I do not know. I do not drive SAAB 9-5. I drive SAAB 9000'95. Maybe those words are true? But I think that SAAB will make some decisions and we will have the highest quality SAAB like it was in the past.

Best regards to all SAAB!

tomas (Lithuania)
Today's headlines
Business & Money
US and Japan fuel surge for Volvo trucks
Ed Carbaugh prepares to install parts on a truck engine on an assembly line at Volvo Trucks' powertrain manufacturing facility in Hagerstown, Maryland, March 2014. Photo: Patrick Semansky/AP

US and Japan fuel surge for Volvo trucks

Sweden's Volvo, the world's second-largest maker of trucks, said Friday it saw a spike in profits in the third quarter, boosted by thriving sales in the US and Japanese markets. READ  

Inspectors attacked at rogue doc’s surgery
Cigarettes and beer photo: Shutterstock

Inspectors attacked at rogue doc’s surgery

Inspectors who were sent to shut down a doctor’s surgery in Gothenburg were physically attacked and fled the premises to get help from the police. READ  

Interview
'Too many concerts feel the same'
Sofar hosts secret gigs in Swedish apartments. Photo: Sofar

'Too many concerts feel the same'

Kattis Bjork founded Stockholm's secret gig scene - Sofar - a year ago. The Local caught up with her as she prepared to celebrate the project's anniversary this weekend and revealed the concept will spread to other Swedish cities in 2015. READ  

Police turn Swede’s vodka into water
A Swede loads a car with alcohol in northern Germany. File photo: Drago Prvulovic/TT

Police turn Swede’s vodka into water

Swedish police say they will pay a man 16,000 kronor ($2,200) in damages after much of the alcohol they confiscated from him was stolen, while many of the bottles they returned were filled with water. READ  

Diplomacy
US to get first female ambassador in Sweden
File photo: Athena Center for Leadership Studies

US to get first female ambassador in Sweden

The United States Embassy in Stockholm is set to get its first female ambassador after the White House announced it was nominating the Iranian-American ex-investment banker Azita Raji to take over from Mark Brzezinski. READ  

Neo-Nazi attacks
Neo-Nazis cleared of knife attack on Nigerian
Police intervene after neo-Nazis attack an anti-Nazi rally in Kärrtorp, December 2013. Photo: Hampus Andersson/TT

Neo-Nazis cleared of knife attack on Nigerian

A Stockholm court has cleared three neo-Nazis of stabbing a Nigerian man in an unprovoked attack. But two of the men will face jail after they were convicted of racial agitation at a riot. READ  

Julian Assange
Assange court ruling expected on Monday
Julian Assange at Ecuador's embassy in the UK. Photo: Anthony Devlin

Assange court ruling expected on Monday

WikiLeaks founder Julian Assange can expect the next court ruling on his case to take place on Monday October 27th in Stockholm. READ  

Stockholm 'sub hunt'
Sweden calls off suspect submarine search
Ships are returning to shore in Sweden. Photo: TT

Sweden calls off suspect submarine search

The core search for a suspected foreign vessel in Swedish waters has been called off. The armed forces said they remained convinced foreign underwater activity had taken place but had not identified an intruder. READ  

Politics
Sweden to get EU 'Christmas present'
Sweden's Prime Minister Stefan Löfven at an EU summit in Brussels this week. Photo: TT

Sweden to get EU 'Christmas present'

Sweden is set to get 1.2 billion kronor ($168 million) back from the EU on December 1st, according to leaked EU documents which suggest that other European countries will have to make large top-up payments this year. READ  

Science
Asteroids leave mark on Sweden
Astroids can leave marks like these. Photo: TT

Asteroids leave mark on Sweden

Some 458 million years ago, Earth was whacked in a double asteroid strike, leaving craters visible in Sweden today, space scientists have reported. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Lifestyle
What's On in Sweden: October 24th - 31st
Gallery
People-watching: October 22nd
Gallery
In Pictures: Prince Carl Philip and Sofia Hellqvist
Lifestyle
Eight things to love about renting a Swedish apartment
National
Vasa ship cannon blasted in Sweden
Blog updates

24 October

Editor’s blog, October 24th (The Local Sweden) »

"Hi readers, Get ready to read our weekly digest of Swedish news in less than 60 seconds. The..." READ »

 

24 October

Is darkness weather? (Blogweiser) »

"I try very hard not to talk about the weather. This has come after a decade..." READ »

 
 
 
National
Sub hunt: Day-by-day
National
Sub hunt: Stockholm islanders share their fears with The Local
Sponsored Article
The best options for oversea transfers
National
Get 20% off unique Swedish homeware
National
Dentist gives free care to Roma beggars
Business & Money
Get your own office in Gothenburg or Stockholm - free for a day
Gallery
Property of the week: Malmö
Gallery
PHOTOS: 'Foreign activity' in Swedish waters
Gallery
People-watching: October 19th
TT
Society
QUIZ: How good is your Swedish?
Lifestyle
What's on in Sweden: October 17th - 24th
Society
The nudity... and nine other things expat men notice in Sweden
Gallery
People-watching: October 15th
Gallery
Your views: Should outdoor smoking be banned in Sweden?
Business & Money
Sweden has 'large hole' in finances
Sponsored Article
Introducing... Finding a job in Stockholm
Society
Monster salmon caught in northern Sweden
Gallery
Property of the week: Lorensberg
National
Scandinavia's child bride
National
Ebola crisis: How is Sweden preparing?
Business & Money
How Sweden is becoming a cashless society
Gallery
Stockholm Burlesque Festival 2014
National
How a little red horse became a symbol for Sweden
Gallery
People-watching: October 12th
Business & Money
The hottest start-ups from southern Sweden
National
What's on in Sweden: October 10th - 17th
National
Stockholm is 'best' region for well-being
Gallery
People-watching: October 8th
National
Five facts to know about Patrick Modiano
Society
My Swedish Career: A French fashionista in Sweden
Society
Swede's anti-bully Facebook tale goes viral
Society
Have you seen Sweden's viral subway cancer campaign?
National
Isis: Swedes linked to Turkish prisoner swap
National
Should Swedes be banned from buying sex abroad?
Gallery
Fredrik Reinfeldt's leaving presents
National
Five Swedish TV shows you shouldn't miss
Gallery
A tool belt, a casserole, and a book. Fredrik Reinfeldt's parliament gifts
TT
Lifestyle
Top five winter festivals in Sweden
TT
National
Sami reindeer herders win mine reprieve
Gallery
Property of the Week: Gamla Enskede
Sponsored Article
How to catch the first lobster of the year
Team SCA
Sponsored Article
All-female SCA team takes off on Volvo Ocean Race
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

979
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se
If you want to drink, that’s your business.
If you want to stop, we can help.

Learn more about English-language Alcoholics Anonymous in Sweden. No dues. No fees. Confidentiality assured.
AA-EUROPE.ORG/SWEDEN