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Saab dealers: we'll help pay for Spyker deal

TT/The Local · 5 Feb 2010, 09:40

Published: 05 Feb 2010 09:40 GMT+01:00

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The dealers say they can provide up to 180 million kronor to save the carmaker, according to business daily Dagens Industri.

The offer was formally approved by a meeting of the board of the Swedish association of GM dealers, and is intended to help strengthen Spyker's hand in the ongoing talks over Saab.

"We have no doubt that Spyker can manage the financing on its own. But if we can help out if we are asked," said Lars Åke Sundén, CEO of the Biva dealership in Linköping.

Peter Hallberg, CEO of the Swedish GM Dealers' Association said that Saab dealers believe that there was "strong substance" in Spyker's business plan. They did not feel that they were taking an "imminently significant" risk by making the offer, he added.

Story continues below…

Spyker has to raise 180 million kronor by the summer. Victor Muller, the company's CEO, has said he doesn't expect to have any problems finding the cash.

TT/The Local (news@thelocal.se)

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Your comments about this article

11:41 February 5, 2010 by Rick Methven
"We have no doubt that Spyker can manage the financing on its own. But if we can help out if we are asked," said Lars Åke Sundén, CEO of the Biva dealership in Linköping.

I bet if Biva does give Spyker money my service cost is going to go up
13:56 February 5, 2010 by spy
Rick Methven

I think this is more of a symbolic show of support from the dealers. Obviously Victor Muller has many financial options as he has secured a billion dollar car company - a measly 24million is no obstacle. In the big scheme of things I don't think your servicing costs are going to go up as a result of this offer but good of you to identify the possible pitfalls as usual.
14:24 February 5, 2010 by sagar
also the worker should agree that they will work more, take less holidays till the company returns to profitablitiy ... the board members will have just allowances ...
15:35 February 5, 2010 by 2394040
I'm thinking that the SAAB saga is a never-ending saga.
15:36 February 5, 2010 by Beermatman
I'm a new comer to both this newspaper and indeed Sweden so maybe I should keep my mouth shut, but when I read a "measly" 24 Million is no obstacle then I start to shudder. No disrespect is meant but I think people forget that it's not just 24 Million, but another 24 Million!

Congratulations to the SAAB Dealerships at least they are standing up to be counted. Where are all Saab's suppliers and what about all the employees don't they realise that if this deal fails Sweden will not only loose this prestigious brand but a lot of skilled people will be out of work.

I've spent many years promoting famous names and famous brands and I've come to realise that it's the doers and not the talkers that change things.

I always remember the song "talking is cheap people follow like sheep" Get up and do something to save this brand now! Wishing and hoping wont get it done, all power to the Dealerships. Good on you.

Excuse me while I put this soap box away.


17:34 February 5, 2010 by spy

In personal terms I realize that 24 million dollars does not come along everyday but in the purchase of a billion dollar car company 24 million is a pittance. Victor Muller has queues of organizations lining up to finance this small amount but he does not need to pay this instalment for some time so he can afford to hold off and get the loan with the best terms.

I agree fully with your comments over the dealers showing their support for the Flying Dutchman - well done to them for throwing this message out in the face of the pathetic reporting of this topic in the Swedish media.
19:17 February 5, 2010 by Beermatman

I find that Swedish marketing and Swedish media are very conservative and a good publicity stunt would do the world of good for both the dealerships and SAAB themselves.


20:50 February 5, 2010 by spy

I find the Swedish media to be a joke - most of them print sensationalist stories without sources. They have the professionalism of poor Italian tabloids (with a couple of notable exceptions; Dagens Nyheter to name one). Saab's predicament has been a lazy journalists dream and pretty much every crap hack has filled an enormous amount of pages during the last 12 months on this topic, and they usually contradict themselves week by week. Foreign media laugh at the standard of Swedish reporting as it is shallow and unsophisticated.

Another thing that is worth noting is that we have seen the average motoring journalist, who is barely qualified to write a car review, now 'analysing' and writing the auto industry - frankly most are too thick to even scrape the surface of big business. If you want to know what is going on then you need to follow the FT or Bloomberg, they double-source, they are well connected, their journalists heve more than a handful of brain cells and they understand business.

Also with respect if I worked for a company in Saab's position and a consultant suggested a PR stunt, off the back of this kind of media interest and unprecidented media coverage, I would show him the door immediately.
23:48 February 5, 2010 by GLO
Well Done Dealers.. Now where are the Unions... After all its only your Jobs?????
05:12 February 6, 2010 by porksteak
Keep going. Saab is worth saving.

Saturn slipped into the afterworld without a sound. Hummer I would put out of it's misery myself.

This is a deal GM needs to move forward.
15:48 February 6, 2010 by mark mitchell
As a Saab dealer in the states we are waiting and hoping the brand will have life. We hope that indead the players will make the nessisary consestions to keep Saab going.Victor seems to be a bright guy and in it for the long haul. As most know who are in the industry right now the financing part is the most fragil! The financial community is as cold as Febuary in Stockholm.Hopefully the next days will gain a possitive results. For the Saab dealers in the states it is the differance of having on going concerns,in our case 38 years as a Saab dealer, with income coming in for our showrooms, service and parts rooms vs empty buildings being taxed and maintained with no income. The US is cluttered with such buildings from other failed auto brands. The dealers in the states have spent countless hours lobbying Government officials.The head count regarding job loss in the states would be in the thousands so naturally all were concerned.Prayers are appreciated!
17:02 February 6, 2010 by spy
mark mitchell

I am sure that all will be resolved this month, hang in there!
01:42 February 8, 2010 by Twiceshy
thelocal poster with nickname spy, 18:00 February 2 2010:

"Spyker has the money to complete this transaction and will do this month."

thelocal poster with nickname spy, 17:34 February 5, 2010:

"Victor Muller has queues of organizations lining up to finance this small amount"

In just 3 days, the change in opinion from this one poster who has all but outright stated to have all the insider information on the SAAB deal...
09:54 February 8, 2010 by spy

You have been a busy fool. I stand by both comments which are not mutually exclusive.

I also note that between you and your 'special freind' repat_expat you said that Saab would be a) sold to the Chinese and b) would never be sold at all and would die! So why don't you give us some more of your superb business analysis.
09:58 February 8, 2010 by Twiceshy
Actually I don't remember saying that, though other people may have said so.

However, I do remember saying that I don't see this as a profitable deal or as creating a profitable Saab.
11:04 February 8, 2010 by miss79
again this problem...why not sell to any mobsters.. i am sure moderates are happy!after all is all about the money..not the quality..
02:56 February 11, 2010 by repat_xpat
@twiceshy: Nice of you to add quotes & dates to support your case. It would be good to provide links too. Not sure if you are right that Spy flip-flopped, but its good to have data for others to review.

@spy: Please be so kind as to use actual quotes with references (links) when you refer to my comments. Can you provide these now? Thank you.
08:53 February 11, 2010 by spy

I am surprised you dare comment on a Saab story after you ranted for weeks to anyone who would listen that Saab would not be sold only to be proved very wrong. I would have guessed that you would now be more than a touch embarrassed especially as you were so vociferous in your incorrect hypothesis.

And I will not be wasting my time cutting links and quotes in order to convince you of the blindingly obvious. To coin a phrase I have met a lot of hardboiled eggs in my time but you are at least 20 minutes.
01:16 February 12, 2010 by repat_xpat
Didn't think so spy. Thanks anyway.
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