Swedish News Report: "GM Could Have Saved Saab"
Ingvar, Swedish member of TTAC’s Best and Brightest, translates a report in today’s Aftonbladet:
“Aftonbladet can disclose today that Secretary of Industry Maud Olofsson fasttracked GM into the Europan Investment Bank. But GM said no. A source says: GM wasn’t interested in saving Saab.
In the late fall, Maud Olofsson had talks with GM Europe boss Carl-Peter Forster. Olofsson offered GM government loan guarantees if they turned to the European Investment Bank. But his response was lukewarm. It takes too much time to go through EIB, was his answer.
But Olofsson didn’t give up. In early december, she contacted EIB and asked them if they could fast track GM’s eventual case. The answer was positive. But when GM was told, they were only making excuses. There was obviously no interest from GM in pursuing the case, they only kept stalling, a source says.
Between holidays, the Swedish government called in consultants to review the numbers for GM and Saab. They shook their heads in despair, there was no reality in the numbers, a source says. The advice they gave: Forget about Saab.”
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@PUnk "Saab was wringing max boost from tiny fours when Audi was still wetting itself". Back from the Chicago auto show yesterday and this "truth about cars" was never more apparent. Yeah, alot of Toyotas and Hondas stand out(but they cant sell their stuff right now either). Just loads of V6s, averaging 18-25mpg?. All the double parts and weight of the complex variable valve timing gears, catalytics, O2 sensors, etc...for what? Way more 4 & 5 cylinders, diesels, twinturbos and hybrids would in order. GMNA is just SO lost in some "time-warp". The Saabs(12YO 9.5 excepted) and Saturns(Belgian Opels?)and the Corvette were really the only GM standouts. The sooner GMEurope controls its destiny, the better.
It's obvious that GM thought Saab was doomed sometimes last summer, not even worth the time a day, but looking for someone else to pick up the bill of killing off the brand. Criminal conduct? Criminal negligence? They didn't seek out those loans, because they know already then that no loan in the world would have saved Saab anyway. They didn't care, they didn't even give a shit, all they wanted was doing nothing, hope for the best, and when the shit hit the fan, send the bill somwhere else.
"snabster : February 19th, 2009 at 10:51 am (...) SAAB should sell itself to Opel." Ehhh...??? Let me grasp it... so you're suggesting Saab should sell itself to GM ergo in other words GM should sell Saab to itself (GM)? If yes then whatever is that you're smoking there I want a bag of it... :D